Cybercrime has reached its highest-ever levels, with 144 million attacks detected over the last 90 days, and a 45 per cent increase in cybercrime in the Asia Pacific region year-on-year, according to the ThreatMetrix Cybercrime Report for Q2.
According to the report, cybercriminals are increasingly targeting emerging digital business models, such as ridesharing apps and media streaming organisations.
A major driver in the increase in cybercrime is the rise of new account origination fraud, which has risen 30 per cent since Q1. Stolen data obtained through security breaches is being used to apply for new loans or create banking and eCommerce accounts, as well as to perform large-scale identity credential testing and attacks on less tradition industries. Media companies have been more affected by this trend, with a 527 per cent increase in new account origination attacks.
“Highly organised criminal gangs have set their sights on disruptive, mobile-heavy industries like media streaming and ridesharing. As new business models take the digital economy by storm, innovative methods of monetising stolen credentials found on the dark web are emerging,” said Vanita Pandey, vice president of product marketing and strategy, ThreatMetrix. “With ridesharing apps, for instance, fraudsters are taking trips using stolen credit cards or propagating two-party fraud by using a fake driver account and ‘accepting customers’ using stolen credentials.”
This quarter’s report also saw Japan join the list of top five attack destinations for the first time.
The ThreatMetrix Q2 2017 Cybercrime Report can be downloaded here.
