Cyber-Criminals Found a Home on Social Media Sites
Cyber-Criminals Found a Home on Social Media Sites
Since 2011, cyber-criminals have found a haven in social media, where they perpetrate fraud. In the past six months, their numbers have increased 70 percent.
More Cyber-Crime on Social Media
Members of cyber-crime-related groups on social media platforms grew 70% in six months—from 179,447 to 305,677 individuals.
Geographic Hotspots
The geographic hotspots for fraud on social media channels are located in Brazil, Russia, China, India and Southeast Asia, Latin America and Nigeria.
Top Industries Affected by e-Commerce Fraud
Online money transfers: 19%, Travel and hospitality: 15%, Business services: 13%, Electronics: 10%
Time to Investigate Fraud
70% of retailers take days, or longer, to investigate the source of fraud activity on their website.
Mobile Is the New Target
60% of all fraud originates from a mobile device, and 45% of transaction volume originates from a mobile device.
Ransomware Attacks
One in 20 malware attacks involves ransomware.
Global Impact of Phishing
A new phishing attack is launched every 30 seconds. The annual cost of phishing to global organizations is $9.1 billion.
Mobile to Outpace Web Transactions
In 2017, for the first time, mobile transactions will outpace web transactions, and fraud will continue to grow rapidly.
Biometric Authentication Will Take off
Biometric authentication will become popular with mobile users. Fingerprint, voice and eyeprint, combined with risk-based transaction monitoring, will dominate for authentication and fraud management.
