As the holiday season draws near, cybercriminals are making lists and checking them twice, according to a new study by Arkose Labs. The Q4 Fraud and Abuse Report
,” published Nov. 5, 2019, cited a 70 percent increase in bot-driven account fraud. Researchers analyzed over 1.3 billion financial service, ecommerce, travel, social media, gaming and entertainment transactions between July 1 and Sept. 30, and found one in five account openings were fraudulent.
Kevin Gosschalk, CEO of Arkose Labs, said the report shows evolving patterns in global cybercrime, which has become broader and more complex in nature, making incentives and victims more difficult to detect.