News Flash: Jump in Mobile Fraud Attacks

The number of mobile fraud attacks worldwide rose 24% year-on-year in the first half of 2018, according to ThreatMetrix’s analysis of the 17.6 billion digital transactions monitored by its Digital Identity Network. That trend partly reflects the growth in mobile transactions – over the past three years the proportion of mobile transactions of all digital transactions has almost tripled, according to ThreatMetrix.

In all, mobile transactions — including account creations, logins and payments — accounted for 58% of all transactions in the first half of 2018. However, mobile purchases are still far less risky than those placed on desktops, according to ThreatMetrix’s data, which shows that only one-third of all fraud attacks target mobile transactions.  Alisdair Faulkner, Chief Identity Officer at LexisNexis Risk Solutions, which owns ThreatMetrix, said: “The key point of vulnerability, however, is at the app registration and account creation stage. To verify users at this crucial point, organisations need to tap into global intelligence that assesses true digital identity, compiled from the multiple channels that their customers transact on.”

For more, see the ThreatMetrix press release