DataVisor reports increased fraud rates in social networks

A key takeaway from DataVisor's Report shows that the social space has been hit especially hard and may be fast becoming the fraudulent space. According to their data fraud within social networks showed the highest increase as more consumers logged on, and many were unsure how to detect legitimate communication from fraudulent messages within the space, Bizreport reveals.

Researchers note that up to 90% of financial fraud attempts are account takeovers, and those numbers continue to rise. However, the number of attempted attacks using new account creation or transactions are trending downward. Other interesting findings from the report include:

• Desktop fraud rates are 7.4%, mobile platform fraud rates are 0.5%;

• 50% of fraudulent users are using the Windows platform;

• 34% of fraudulent users come from web/desktop browsers and 26% from mobile browsers;

• 'Rooted' and 'Jailbroken' devices have a 22x higher rate of fraud attacks.