When LexisNexis Risk Solutions published its first Cybercrime Report in 2014, mobile transactions comprised just 25% of total transactions in the company’s Digital Identity Network. By the second half of 2021, that percentage had spiked to 75% – and a rise in mobile fraud came along for the ride, according to the latest Cybercrime Report that analyzed transaction data from July to December of last year.
The global volume of human-initiated attacks on individual online transactions, which typically return full digital identity profiling data, increased for the first time since 2019 in the second half of 2021, growing by 46% year-over-year. Sixty percent of human-initiated online attacks took place on mobile devices versus 40% on desktop, with the percentage of human-initiated attacks coming from mobile devices increasing 9% year-over-year. What’s more, the human-initiated mobile app attack rate shot up by 59% year-over-year, the report found.
High-velocity, automated bot attacks continued to grow but at a lower rate compared to the first half of 2021, growing 32% year-over-year globally compared to 41% in the first half of 2021. In the financial services sector specifically, bot attacks rose by 10% globally compared to 28% in the first half of 2021.
Despite the lifting of pandemic-related restrictions around the world in the second half of 2021, which enabled a return to in-person transactions, online transaction volume continued to grow,…
