Online retail fraudsters have significantly increased their criminal operations globally.
Cyber criminals have been hyperactive in the realm of online retail, ramping up their illegal activities worldwide in the past year. This alarming revelation comes from Lexis Nexis Risk Solutions, a US data security service provider, in their recent annual report detailing the evolution of cybercrime.
Despite a relatively moderate seven percent increase in online purchases during the same timeframe, the number of human-initiated attacks on e-commerce transactions skyrocketed by a whopping 59 percent. These attacks, are not linked to previously programmed computer networks, also known as "bots", by the criminals.
The overall growth in human-initiated attacks, which includes those upon online trading as well as banking transactions and computer and online gambling, is predicted to be at 19 percent.
The evaluation is derived from the company's own data from their verification platform, known as the "Digital Identity Network", which analyzes 92 billion online transactions in total. North America is the most typical region for these digital crimes, with the most common mode of attack being the takeover of an online account using stolen credentials, encompassing nearly 29 percent of all cases.
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In the year under review, online trading activities became a prime target for cyber fraudsters, witnessing a staggering 59% surge in human-initiated attacks. This unwelcome trend has made North America the most affected region, with account takeovers using stolen credentials accounting for nearly a third of all cases.
Source: www.ntv.de
