Posted September 12, 2018
Mobile Fraud Reaches 150 Million Global Attacks in First Half of 2018 with Attack Rates Rising 24% Year-Over-Year, Reveals ThreatMetrix
58% of digital transactions now originate from mobile devices
Mobile attacks are increasing, with one third of all fraud now targeting this channel
The United States saw a pronounced rise in mobile attack rates at 44% year-over-year, compared to 24% globally
85% of transactions on social networks and dating sites now come from mobile devices, where identity spoofing is rife
Bots are booming: 1H 2018 registered a total of 2.6 billion bot attacks, with a 60% step up from Q1 to Q2 2018
SAN JOSE, California – Sept. 12, 2018 – ThreatMetrix®, a LexisNexis® Risk Solutions Company, today released new cybercrime insights from the first half of 2018, revealing a sharp rise in fraud attack levels on mobile transactions. As consumer behavior increasingly embraces mobile for virtually all online goods and services, fraudsters are starting to close the gap on this channel.
These latest findings are based on the analysis of 17.6 billion digital transactions on the ThreatMetrix® Digital Identity Network® during the first half of 2018. The network also detected and stopped 361 million cybercrime attacks in the same period.
Mobile Becomes the Go-To Digital Channel
The rise of mobile is undisputedly the key change agent in digital commerce currently. According to ThreatMetrix data, in the last three years the proportion of mobile transactions versus desktop has almost tripled. Mobile transactions, which include account creations, logins and payments, reached 58% of all traffic by the middle of 2018.
Mobile fraud rates have tended to lag behind the channel’s overall growth, however in the first half of 2018 mobile attack rates rose 24%, when compared to the first half of 2017. In the United States mobile attack rates experienced a far higher growth rate of 44% for the same period.
Globally, one third of all fraud attacks are now targeting mobile transactions. This means that although digital companies do need to prepare for increasing attacks, mobile remains the more secure channel compared to desktop.
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