NEW YORK—Worldwide cybercrime attacks have doubled in volume over the last two years, according to a new report that adds the type of crime has shifted dramatically, putting consumers at greater risk.
According to a report from ThreatMatrix, Cybercriminals are no longer looking to make quick money from stolen credit cards, having changed their tactics due to EMV. The focus today, according to the report, is on creating fake accounts.
The report says that more than one in nine of all new accounts opened in 2017 were fraudulent.
It’s a concern shared by several analysts in previous CUToday.info reports, in which the risk from online account opening was especially featured.
“A McAfee study earlier this month revealed only 37% of Americans use identity theft protection; 67% say they check their accounts for fraudulent activity, but this does not reflect the fake accounts opened in their names,” stated Bill Hardekopf, CEO of LowCards.com. “The only way to monitor that is to actively check one's credit score and credit history, either through an ID theft protection service or a credit monitoring site.”
ThreatMatrix said ridesharing and gift card trading are two areas cybercriminals are heavily targeting because the services are new and riddled with potential security flaws. Hackers are also getting better at layering their attack procedures, making it harder for investigators to pinpoint the original source of the attack.