- News & Events
October 23, 2013
Data turned up by the ThreatMetrix™ Global Trust Intelligence Network (The Network), finds that based on the percentage of high and medium risk transactions, Santa Clara, CA leads the country in online fraud origination. San Jose, CA, Chesterfield, MO, New York, NY and Atlanta, GA — You have nothing to cheer about because you came in 2, 3, 4 and 5 respectively.
The ranking was based on a sample of transactions across more than 1,900 customers, 9,000 websites and 500 million monthly transactions from the ThreatMetrix Global Trust Intelligence Network. Utilizing the collected data, ThreatMetrix reviewed activity from Q3 2013 (July 1-Oct. 1), scoring each transaction with a fraud risk of low, medium or high. High risk transactions often required additional fraud screening or were rejected by businesses. The top 100 U.S. cities were then ranked based on their percentage of high and medium risk transactions.
In what should not come as a particular surprise, the data shows that the Bay Area in particular has three cities ranked in the top 10 list for origination of online fraud – in addition to Santa Clara and San Jose coming in 1 and 2 respectively, Fremont, California came in at number 6.
“With so many technology companies and extensive technology intelligence in the Bay Area, it’s no surprise to see a high rate of online fraud in the area,” said Peter Liske, vice president of product management at ThreatMetrix. “As cybercriminals become more sophisticated and identify new ways to compromise businesses and consumers, cities with high technology know-how and connectivity rates are more likely than ever to be attractive targets for cybercriminals. To protect against online fraud, any business operating online needs to take preventative measures and have a strategic fraud screening process in place.”
ThreatMetrix’s top10 cities for online fraud origination are:
1. Santa Clara, CA
2. San Jose, CA
3. Chesterfield, MO
4. New York, NY
5. Atlanta, GA
6. Fremont, CA
7. Tempe, AZ
8. Dallas, TX
9. Rochester, NY
10. Miami, FL
According to recent data from The Network, ThreatMetrix found that account takeover attempts and payment fraud nearly doubled in six-months. Major cities with a high level of transactions are particularly vulnerable. That’s because the sheer volume of transactions provides cybercriminals with more opportunities to steal credit card numbers, identities and passwords.
Following the launch of The Network earlier this year, ThreatMetrix now offers the only global data repository providing insight into positive and negative behavior and threat intelligence for both online personas and devices. Using trust-based authentication, The Network is able to differentiate between good and bad actors in real-time. That makes it possible to block suspicious transactions or do additional screening without inconveniencing customers.
“Through The Network, our customers are now protected against account takeover, payment fraud and identity spoofing attempts with the most comprehensive repository of data on the market,” said Liske. “As fraudsters continuously find new ways to automate their attacks, ThreatMetrix continues its commitment to the fight against cybercrime by providing an accurate, instantaneous risk assessment of all transactions.”
To view fraud attempts as they happen in real-time, check out the ThreatMetrix™ Web Fraud Map here: http://www.threatmetrix.com/threatmetrix-labs/web-fraud-map/.
ThreatMetrix secures Web transactions against account takeover, payment fraud, identity spoofing, malware, and data breaches. The ThreatMetrix Global Trust Intelligence Network, which analyzes 500 million monthly transactions, provides context-based authentication and Web fraud prevention to help companies accelerate revenue, reduce costs and eliminate friction. ThreatMetrix protects more than 1,900 customers and 9,000 websites across a variety of industries, including financial services, enterprise, e-commerce, payments, social networks, government, and insurance. For more information, visit www.threatmetrix.com or call 1-408-200-5755.
Posted by Dan Rampe
Tags: Account Takeover, Account Takeover Fraud, Bank Fraud, Botnets, CNP fraud, Cookieless Device Identification, Cookies, Credit Card Fraud, Cyber attacks, Cyber Warfare, Device Detection, Device Fingerprint, Device Fingerprinting, Device ID, Device Identification, Fraud Prevention, Hacking, Identity theft, Malware, Malware Detection, Malware Protection, Man-in-the-Browser Detection, MitB, Mobile fraud, National Cyber Security Awareness Month, Online Fraud, Phishing, Phishing Detection, PII, ThreatMetrix Cybercrime Index, ThreatMetrix Global Trust Intelligence Network, ThreatMetrix Web Fraud Map, TrustDefender Cybercrime Protection Platform, Web Fraud