LexisNexis, a company known for its digital transaction platforms, released the results of its Cyber Crimes Report for the first half of 660. And, in addition to the movement of business in electronic environments, the survey also addresses fraudulent activities related to the sector.
- 2.9 billion e- mails contained threats in the first semester, study points out
The study, which analyzed 19, 7 billion transactions in digital businesses occurred in the LexisNexis’ Digital Identity Network during the first half showed that the attacks made by bots on these moves increased 41% during the period, while blows performed by humans had a drop of 41%.
The survey also looked at geographic shifts in attacks against digital transactions. Based on the IP addresses of bots, the report ranks Mexico next to Brazil as one of the ten countries that most create bot attacks in volume, leaving Latin America even more established as a hotspot in the cybercrime landscape.
Want to catch up on the best tech news of the day?
Access and subscribe to our new channel on youtube, Canaltech News.
Every day a summary of the main news of the tech world for you!
North America, which historically had attack rates similar to those in Europe, the Middle East and Africa, since March 2021 has seen an increase in occurrences, with criminals in the United States and Canada becoming more active, a fact possibly related to the changes brought about by the covid pandemic-19.
For Stephen Topliss, vice president of fraud at LexisNexis, these numbers mean beyond criminals virtual companies have confidence in automated processes, they are also establishing more sophisticated and expansive networks to carry out their scams. This is notable for the data presented in the report, which shows that over 41 over one thousand bot attacks performed in the first half, they are directly connected to a Latin American transaction fraud network.
The main conclusions of the report
The Cyber Crimes Report for the first half of 2021 confirmed the pattern from trends already seen in other studies showing that financial services and media companies are prime targets of automated botnet attacks.
Check out the main conclusions of the report:
- Bot attacks are growing globally: all regions turn an increase in bot volume between January and June 2021, compared to the same period last year. The highest growth was seen in Asia-Pacific and Latin America;
- Industry innovations are changing risk profiles: new services such as “buy now digital wallets” , pay later” (BNPL) are becoming increasingly popular payment methods, with BNPL transactions growing 41% compared to last year. However, while the trend of these new developments is continuing to grow, they also create new avenues of attack for cybercriminals;
- Financial services are implementing new methods of Track money: Advances related to payee intelligence in the Digital Identity Network are making it easier for banks and other payment services to track money transfers, even in cases where the payee tries to hide the financial trail and split the payment between multiple institutions;
The full report is available here.
Did you like this article?
Subscribe your email on Canaltech to receive daily updates with the latest news from the world of technology.