BEDFORD, Mass.—Fraud attacks involving rogue mobile applications jumped nearly 300% in the first quarter from the preceding quarter, and fraudulent card-not-present transactions rose 17%, a new report shows.
The study from fraud-control services provider RSA Security flagged 41,313 attacks from rogue apps compared with 10,390 in 2018's fourth quarter, Digital Transactions said.
“The report notes how the mobile channel is playing a key role in the growth of online fraud. Not only did CNP fraud rise by 17% from the fourth quarter to this year's first, but 56% of the fraudulent transactions originated from mobile devices,” stated Digital Transactions in its analysis.