Mobile fraud increased 117% over the previous year, with businesses reporting a 63% increase in mobile fraud, an IDology study shows.
All types – including porting, spoofing, hacking and fraudulent change events – are on the rise, the report indicates.
Caller ID spoofing, porting and SMS interception increased 74%, 69% and 50%, respectively, year over year, explained Mobile Payments Today in its analysis.
“The prevalence of phishing, which can be linked to 93% of last year's security breaches, increased in prevalence by 66%,” Mobile Payments Today said.