“The battle between the ‘good guys’ and the cybercriminals will continue to intensify with consumers’ personally identifiable information in the wild.”
That’s the perspective of Alisdair Faulkner, Chief Products Officer for ThreatMetrix.
A perspective that is well grounded.
The 2014 holiday shopping season was a record-breaking one in terms of online transactions, with “Cyber Monday” online sales exceeding $2 billion for the first time in history – and a significant portion of that total came from transactions utilizing mobile devices. And as that usage expands, so does the rate of attacks on it.
Those are the findings of the latest ThreatMetrix Cybercrime Report, which is based on incidents detected by the ThreatMetrix Digital Identity Network between October 2014 and March 2015. Among the representative key market trends, the ThreatMetrix report identified 4 key insights:
- Trust is critical for conversion and customer loyalty. 74 percent of holiday transactions originated from existing accounts as consumers returned to their favorite merchants.
- Impersonation (“spoofing”) attacks continue to rise driven by the billions of breached identities in the wild and the prevalence of crimeware tools. ThreatMetrix identified more than 11.4 million fraud attempts during peak holiday shopping periods.
- Mobile usage continues to grow, accounting for up to 31 percent of transactions. With more than 20 million new mobile devices being added to the ThreatMetrix Digital Identity Network every month, this trend is expected to continue.
- More Android devices were identified this period compared to before. ThreatMetrix expects this trend to continue as emerging markets increasingly do business via more affordable Android devices. Despite more Android devices being added, iOS devices accounted for two-thirds of mobile transactions.
The Q1 ThreatMetrix Cybercrime Report dives further into details related to three major categories: Transactions & Attacks, Top Attack Methods, and Mobile.
TRANSACTIONS & ATTACKS
The report analyzes attack origins by geography, including the Top 5 attack originations and target countries. Transactions are analyzed by industry, across the eCommerce, financial services and media sectors.