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Organized Cybercrime Targets EMEA, As Mobile Delivers Risk and Reward Across Region

Posted June 25, 2019

80% of all transactions in the UK are from mobile, driving lower attack rates

LONDON, 25 June 2019ThreatMetrix®, a LexisNexis® Risk Solutions Company, today launched the Q1 2019 EMEA Cybercrime Report at the EMEA Digital Identity Summit 2019. Among the findings in the report, which is based on actual cyberattacks detected by the ThreatMetrix® Digital Identity Network® during the first quarter of 2019, is the strong pattern of highly organized, networked cybercrime. Fraudsters are traversing different organizations and even industries in order to maximise the monetization of stolen credentials, launder money and reduce the likelihood of detection.

Key Findings from the ThreatMetrix® EMEA Cybercrime Report

  • EMEA is attacked less compared to the rest of the world, despite pockets of growing attack rates for some industries and use cases
  • Top attackers in the region include growth and emerging economies, like Poland and the Ukraine, highlighting the continued widespread dissemination of breached identity data
  • Spotlight on UK shows how the country’s digital economy drives high mobile penetration and lower attack rates

EMEA: Mobile Delivers Risk and Reward
The report found that EMEA is one of the most mobile regions in the world, with 71% of transactions originating from a mobile device, compared to 55% globally. According to the report, this is one of the key factors driving a lower overall attack rate in the region – with this justified by the fact that mobile is inherently safer than desktop.

Fraudsters, however, have been astute and have followed changing consumer behaviour, with more and more malicious actors turning their attention to the mobile channel. The report found, for example, that attacks on new account creations from the mobile channel in media have increased 41% year-on-year in the region.

“Regardless of their region of origination, cyberattacks often have a global footprint. However, many fraudsters rely on similar methodologies,” said Stephen Topliss, vice president, Fraud and Identity, LexisNexis Risk Solutions. “As economies increasingly shift toward mobile transactions, particularly in EMEA, we need to be aware of criminals who seek to exploit new vulnerabilities and encourage companies to share best practices and knowledge when fighting cybercrime.”

The ThreatMetrix Q1 2019 EMEA Cybercrime Report is based on actual cybercrime attacks from January – March 2019 that were detected by the ThreatMetrix Digital Identity Network in Europe, the Middle East, and Africa.

To download a copy of the report, please visit: https://www.threatmetrix.com/info/emea-cybercrime-report/

About ThreatMetrix, A LexisNexis Risk Solutions Company

ThreatMetrix®, A LexisNexis® Risk Solutions Company, empowers the global economy to grow profitably and securely without compromise. With deep insight into 1.4 billion anonymized digital identities, ThreatMetrix ID™ delivers the intelligence behind 110 million daily authentication and trust decisions to differentiate legitimate customers from fraudsters in real time.

About LexisNexis® Risk Solutions

LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com, and www.relx.com.

Press contact:

Courtney Austin
Senior Director, International Marketing
LexisNexis® Risk Solutions | ThreatMetrix®
+852 6180 0905
courtney.austin@lexisnexisrisk.com

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