Online Fraud Report 2018: Fraudsters Move From Reddit to Blockchain

RSA has released its Fraud Attack Trends report for Q1 of 2018. The report reveals that newsjacking has become fraudsters’ favorite way of empowering phishing attacks, among other things.

A recent news that fraudsters leveraged to incite a major phishing campaign was the relaunch of Canada’s Interac payment network. Researchers also expect to see a significant rise in phishing scams that involve fake messages about the EU’s General Data Protection Regulation, with the enforcement already in action. Any popular news item of global significance should be expected to enter the realm of fraud thinking.

The Ever-Increasing Need of Fraud Analysis

The distribution of major fraud tactics and attacks can help organizations understand the current trends being employed. As each type of fraud attack requires differing levels of resourcing and technical competence, this statistic, tracked over time, can provide a glimpse into the change in preferred attack vectors in order to help organizations respond more effectively.

For the first quarter of 2018 (January 1- March 31), RSA observed and analysed a number of fraud trends. Apparently, phishing is still prevalent as it accounted for 48 percent of all cyber attacks observed by the company in the given period. Canada, the United States, India and Brazil were the top three countries with highest number of phishing attacks. Trojan horses designed for financial fraud accounted for one out of every four attacks. The mobile ecosystem continues to be targeted as well.

The first three months of 2018 had 55% of all transactions taking place in the mobile channel, with 65% of fraud transactions using a mobile application or browser for malicious purposes. On top of these statistics, at least 80% of analyzed fraudster e-commerce transactions came from new devices.

*** This is a Security Bloggers Network syndicated blog from How to, Technology and PC Security Forum authored by Milena Dimitrova. Read the original post at: