Fraudsters no longer operate in silos, they are attacking across industries and organizations
In the first half of this year, the number of human-initiated fraud attacks increased by 13% compared to the second half of last year, a new report by LexisNexis Risk Solutions shows. It also found that fraud campaigns are becoming broader in scope, leading to a rise of networked, cross-organizational and cross-industry attacks.
The study indicates that bot attacks are increasingly used for the creation of new accounts. In the e-commerce sector the number of new accounts created by bots surged by 305% over the last half year, which represents a 171% year-over-year increase. Bot generated media accounts increased by 65% in the last six months, which a 123% YOY rise.