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Posted May 13, 2015
The Internet has brought us all closer together. It has enriched our lives, made us more productive at work and allowed businesses to expand with greater agility into previously untapped markets. But we often hear that the Internet also provides a dangerous mask of anonymity to criminals, who launch cyber attacks across borders with impunity, knowing they can’t be caught because they’re sat in a different jurisdiction. That’s why it’s interesting to see that more and more online fraudsters have actually been focusing their scams on local users recently.
The latest ThreatMetrix® Cybercrime Report: Q1 2015 has found that the majority of fraud attacks from October 2014 to March 2015 originated from and targeted the same country. It’s intelligence like this and many other insights in the report which will help us better protect our customers and further the fight against fraud globally.
The top 5 attack origination and target countries were Canada, the U.S., France, UK and Germany. In the UK nearly three-quarters (72%) of fraudsters came from within the same country, and the figure was even higher in Germany (81%), Russia (85%), France (87%), and Italy (94%).
We know this because our technology specifically looks for fraudsters’ attempts to hide their true location through proxy servers and VPNs – something they’re doing with increasing regularity to escape detection. We can also say that most attacks originated in countries with a high volume of online and mobile transactions.
This isn’t to say, of course, that cyber crime isn’t still a global affair. In the case of the UK, for example, the second biggest concentration of scammers defrauding British consumers was in Mexico, followed by Nigeria, Germany and the U.S. Cross-border cyber crime remains a very real threat requiring greater co-operation between governments and law enforcement to stamp out.
At this point, it’s worth mentioning that these ThreatMetrix® stats are among the most comprehensive you’re likely to find in the industry, anywhere in the world. We source them from our Global Trust Intelligence Network, which analyses one billion transactions every month on behalf of more than 3,000 customers and 15,000 websites worldwide.
So what else can we say about the ever-evolving nature of fraud over the past two quarters? Here are a few more insights from the report:
It’s fast, simple, friction-free and highly reliable. That’s how we beat the fraudsters.
Check out the ThreatMetrix® Cybercrime : 2015 to find out more about the latest fraud trends.