25th May, 2018 2 Min read
Book a Demo
The number of fraudulent transactions originating from a mobile app during the first quarter has increased by 200 per cent since 2015, according to RSA Security. Analysis from the team also indicated that abuse of social media platforms is a growing problem, with social media replacing the dark web as the top hacker marketplace.
Reduce your AWS costs by over 50%
Discover your Cloud Saving Potential – Answer just 5 simple questions. AppsFlyer, Playtika, Lufthansa, IBM, top leading companies are already using our FinOps services.
‘Appy hunting – The proportion of fraudulent transactions carried out on a mobile app has jumped from just 5 per cent in 2015 to 39 per cent in the first quarter of 2018 – the volume of fraudulent transactions has risen by 680 per cent overall and by 63 per cent since Q1 2017.
Down goes the desktop – Use of traditional web browsers for fraudulent transactions is on the decline, dropping from 62 per cent to 35 per cent since 2015.
Burner phones rife – 82 per cent of observed fraudulent e-commerce transactions originated from a new device in Q1 2018, as hackers try to avoid detection.
New profiles and devices used for cash out – Fraudsters used a new account and new device in 32% of all the fraudulent transactions seen during the quarter, suggesting that many are attempting to use stolen identities to create “money mule” accounts as part of their cashing out process.
Phishing remains at #1 for cyber criminals – Despite being one of the oldest online fraud tactics, phishing accounted for 48 per cent of all fraud attacks observed in Q1 2018.
Trojans still siphoning credentials – Financial Trojan malware was present in one in every four fraud attacks observed in Q1 2018.
Cards being compromised – RSA recovered more than 3.1 million unique compromised cards and card previews from reliable online sources in the quarter – these all include CVV numbers.
Read more: Help Net Security
EX.CO is a video technology platform that enables publishers to monetize video content on websites.
Justt is a chargeback mitigation startup based in Tel Aviv. Chargebacks, as defined, are demands by a credit card provider for a retailer to reimburse losses on fraudulent or disputed transactions. Justt’s objective is to assist merchants worldwide in combating false chargebacks using its proprietary artificial intelligence technology.
The cloud used to be viewed as a place of significant cost savings: rather than purchasing and maintaining dozens of server stacks, organizations could outsource this and purchase compute power on an as-needed basis. In the ensuing rush to cloud architecture, however, many companies simply lifted-and-shifted their old financial bad habits. The sheer speed of […]
Cloud computing has transformed more than individual app architectures: it’s granted both start-ups and market leaders an equal platform for innovation. New products are no longer dependent upon complex revenue-draining in-house server stacks. Instead, cloud-native disruptors such as Uber and Airbnb have been able to harness the once-unthinkable degrees of agility, scalability, and cost-efficiency that […]
Schedule a call with our experts. Discover new technology and get recommendations to improve your performance.