July 16, 2019
ThreatMetrix APAC Cybercrime Report Identifies Asia-Pacific Region as Global Epicenter for “Bot” Attacks
Posted April 23, 2019
APAC Region Threatened by 1.2 Billion Attacks within Six Months
SINGAPORE – April 23, 2019 – ThreatMetrix®, a LexisNexis® Risk Solutions Company, has released its H2 2018 APAC Cybercrime Report. Among the insights in the biannual report on regional cybercrime is the emergence of the Asia-Pacific (APAC) region as a global hotbed for bot attacks, with such attacks having increased 480% versus H2 2017.
The report analyses actual cybercrime attacks detected by the ThreatMetrix® Digital Identity Network® in H2 2018. ThreatMetrix processed 2.3 billion transactions in APAC during this period. The company launched the report at its recent APAC Digital Identity Summit 2019.
Key Findings from the ThreatMetrix H2 2018 APAC Cybercrime Report
- The top 10 attack originators in the APAC region range from the largest economies of India and China, to emerging and growth economies like Thailand and Bangladesh.
- Attacks on media logins (social networks, content streaming, gambling, gaming and online dating sites) in APAC are growing 10% year-on-year, while these attacks are falling in the rest of the world.
- Financial services payments in APAC have the biggest attack rate compared to payments transactions in e-commerce and media, and is higher than the attack rate in the rest of the world.
- The attack rate for e-commerce payments in APAC is more than double that of the rest of the world.
- Hong Kong was a prime target for attacks, and was a key target for Canadian fraudsters, highlighting the growing pattern of dispersion in global attacks.
Bot Attacks Dominate
The significant year-on-year increase in automated bot attacks in APAC significantly outpaced global growth of 45%. This equated to 1.2 billion bot attacks during H2 2018. E-commerce merchants face the most disruption from the pernicious and widespread impact of high-volume automated bot traffic, with these identity testing bot attacks often contributing to more than half of an e-commerce merchant’s daily transaction volume. This makes it critical for merchants to detect and block bot traffic before it has an impact on their ability to accept orders from genuine customers.
The report found the majority of automated bot traffic originates from dispersed geographies within the APAC region. Malaysia is the biggest bot attacker and other top bot originators include Vietnam and South Korea.
“Fraudsters are increasingly organized and establishing regional outposts in emerging economies, with APAC seemingly becoming the bot epicenter of global cybercrime. The growth in cybercrime, both in the APAC region and globally, puts digital businesses under increasing pressure to maintain a safe and secure online customer experience, without risking exposure to automated bots, identity spoofing attacks, or phishing and malware scams,” said Alisdair Faulkner, Sydney-based chief identity officer of LexisNexis Risk Solutions.
Understanding True Identities of Online Users Now Crucial
“APAC is experiencing notable pockets of growth in attacks, perhaps driven by the region’s diversity in terms of technological development and digital transformation. With a proliferation of new financial services initiatives⸺ virtual banks, new mobile payment platforms, regulatory reform⸺ sitting alongside a high proportion of end users who are new to transacting online, fraudsters potentially see room to exploit this changing landscape,” said Faulkner.
To download a copy of the report, visit here
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.
LexisNexis® Risk Solutions | ThreatMetrix®
+852 6180 0905
Yuri van der Leest
+852 3655 0504