2019 could be the worst year ever for holiday retail cybercrime

Online fraud increased 30 percent overall in the third quarter of this year and bot-driven account registration fraud is up 70 percent as cybercriminals test stolen credentials in advance of the peak holiday retail season. These are among the findings of the latest Fraud and Abuse report from Arkose Labs, its analysis of over 1.3 billion transactions spanning account registrations, logins and payments, reveals that one in five account openings were fraudulent. Digital account registration has become the identity testing mechanism for fraudsters, as evidenced in the sharp increase in account creation attacks. Even when an account creation attack fails,… [Continue Reading]