San Jose, Calif. based ThreatMetrix, The Digital Identity Company, confirmed a 100% increase in attack volume over the last two years and 2017 set a record in the cybercrime battle.
Based on its analysis of real world cybercrime attacks—as seen across its global network, which analyzes 100 million transactions a day— the ThreatMetrix Cybercrime Report 2017: A Year in Review also disclosed a record number of these attacks thwarted by organizations investing in innovative, digital-first strategies to protect consumers facing downstream attacks from large-scale data breaches.
However, fraudsters no longer look to make a quick buck from stolen credit cards. Instead, they develop more ambitious attacks producing long-term profits and leverage sets of stolen identity data. ThreatMetrix said highly elevated attack rates on account creations, the most vulnerable activity, saw more than one in nine of all new accounts opened in 2017 as fraudulent.
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