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Cybercriminals Increasingly Harnessing Stolen Identity Data to Launch Global Attacks

March 04, 2020 / Security magazine

A new report by LexisNexis® Risk Solutions, Cybercrime Report covering July 2019 through December 2019, reveals how fraud has increasingly become borderless on a global scale. As the report analysis shows, cybercrime is a well-organized, global endeavor powered by networks of fraud. While consumers enjoy access to goods and services from all over the world, fraudsters are able to harness stolen identity data to launch corresponding cross-border fraud attacks, says the report.This global, networked pattern of cybercrime is further reflected in mobile attack rate growth, which is heavily influenced by a global bot attack targeting mobile app registrations, adds the company. Fraudsters are migrating attacks to exploit the mobile channel: Of the 19 billion transactions recorded by the LexisNexis® in this six month period, for the first time, mobile attacks outpaced desktop attacks, with a 56 percent growth in the mobile attack rate year-over-year.