ChannelLife Australia logo
Industry insider news for Australia's technology resellers
Story image

Significant shift to mobile fraud - LexisNexis Risk Solutions report

By Shannon Williams
Mon 28 Mar 2022

There has been a significant shift to mobile fraud over the last four years, with mobile traffic representing 75% of all traffic, according to a new report from LexisNexis Risk Solutions.

The LexisNexis Risk Solutions Cybercrime Report is an analysis of transaction data from the LexisNexis Digital Identity Network in the second half of 2021. It analysed 35.5 billion transactions over the six-month period, up 44% year over year. This stemmed from increased transaction volumes from existing customers and an increased customer base within the Digital Identity Network. 

Though global pandemic-related restrictions eased in the second half of 2021, the report found online transaction volumes continued to grow, specifically across financial services (52% YoY) and communications, mobile and media (45% YoY).

According to LexisNexis Risk Solutions, increasing consumer confidence leads to enhanced demand for a customer-centric digital world. Companies are prioritising their digital customer experience strategies to retain and acquire new customers, which is advantageous for legitimate consumers but may lead to opportunities for fraudsters.

"It is time to unite in the fight against cybercrime. In a truly global digital economy, borders are no longer boundaries for trade or cybercriminals. It is more apparent than ever that fraud goes beyond single industries or countries," says Stephen Topliss, vice president of fraud and identity strategy for LexisNexis Risk Solutions. 

"For businesses to succeed in the digital world, they need to collaborate in the fight against fraud," he says. 

"This can be achieved by utilising the power of a global anonymised digital identity network and through the establishment of more focused digital consortiums among industry peers."

Key findings from The LexisNexis Risk Solutions Cybercrime Report, July to December 2021:

Welcome to the mobile age 
Global accelerated digitalisation and adoption of mobile applications fuelled by the pandemic continued across a multitude of different demographics and geographies. 

The first Cybercrime Report published in 2014 indicated that the percentage of mobile traffic in the Digital Identity Network was a mere 25%. In the second half of 2021, the mobile transaction split reached 75% for the first time. This shift was driven by a few factors: a predominance of mobile usage amongst younger generations; mobile app-only fintechs and the emerging market population moving straight to mobile and skipping desktop altogether; and the rapid decrease of service data and smart handset costs.

Scams on the rise in North America 
Cryptocurrency excitement together with pent-up consumer savings, relief checks and increased online shopping due to Omicron, fuelled U.S. transaction growth while triggering a rise in scams. The Digital Identity Network tracked 15.3 billion transactions in the U.S. and Canada in the second half of 2021, up 22% YoY. There was also a significant rise in human-initiated attacks, with a growth of 50% YoY based on 157 million attacks.

Automated bot attacks continue to rise
Automated bot attacks grew 32% YoY globally, with LATAM showing the highest growth at 455%. The U.S. and Canada has seen a 7% YoY decrease with 692 million attacks. Human-initiated attacks rose for the first time since 2019.

The life of a prolific fraudster 
Just one fraudster can leave a large footprint. The Digital Identity Network observed one fraudulent digital identity that attacked 35 different organisations and had 580 events associated with it. These included: 100 attempted account/creations/credit card applicants/loan applications; 45 attempted ecommerce purchases; 12 attempted password resets; and seven attempted changes to account details. The ability for organisations to benefit from global shared intelligence enables them to identify and stop more attempted fraud in real-time as fraudsters continue to benefit from breached identity data and automated bot credentials testing. 

Related stories
Top stories
Story image
Cybersecurity
How organisations can mitigate IoT and IIoT security risks
IoT and IIoT come with inherent risks because they are often deployed faster than they can be secured, putting organisations in danger of cyber threats. Here are tips on how to mitigate those risks.
Story image
Cloud
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
Review
Hands-on review: GoDice
In a world where we’re more connected than ever to our smart devices, startup company Particula believes that its innovative product GoDice is the answer to getting everyone reconnected with one another - by turning that smart device into an interactive board game.
Story image
Telstra
Ericsson and Ciena, Telstra enhance service capacity for Telstra's optical network
Ericsson, Telstra, and Ciena have announced new enhancements to Telstra's Next Generation Optical Network, which will increase the service capacity of Telstra's optical network to 400 GE (Gigabit per Second Ethernet).
Story image
Review
Hands-on review – CleanMyMac X utility for macOS
We get hands-on with a useful utility that macOS users never thought they needed but probably do.
Story image
Internet of Things
ManageEngine wins big in IDC MarketScape assessment
ManageEngine's Endpoint Central service has been recognised as a leader by IDC MarketScape in several categories including Internet of Things device deployments and UEM software for SMEs.
Story image
Identity and Access Management
Ping Identity named a Leader in Access Management
Ping Identity has been named a leader in the 2022 KuppingerCole Leadership Compass report for Access Management. 
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
Microsoft
ASI Solutions named finalist of Microsoft Surface Partner of the Year
"ASI Solutions has a strong Microsoft focus, building value by helping customers maximise investment in modern workplace solutions."
Story image
Supply chain
Supply chains continue to be disrupted, enterprises embrace circular economy
“Businesses urgently need to find a solution that can help them to manage this disruption, and transition to a circular economy."
Story image
MSP
Video: 10 Minute IT Jams - An update from CyberArk
Olly Stimpson joins us today to discuss the importance of MSP programmes and how MSP partners are experiencing success with CyberArk.
Story image
Cybersecurity
FIDO Alliance releases guidelines for optimising UX with FIDO Security Keys
The new guidelines aim to accelerate multi-factor authentication deployment and adoption with FIDO security keys.
Story image
SOTI
Australian consumers loyal to retailers who deliver speed and visibility
SOTI finds extensive order visibility and speed are the most important factors for turning one-off customers into loyal, long-term buyers.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why its time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Robotics
Evonik relies on Getac F110 tablet to control autonomous robot
The aim of the project is to evaluate the practicality of an automated robotic maintenance and inspection solution in the chemical industry.
Story image
Documentation
Adobe study finds lack of digital trust and utilisation in Australian Government agencies
New research commissioned by Adobe has revealed a significant lack of digital trust within Australian Government departments, along with the continued underutilisation of key digital processes.
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Retail
Australia Post Online Retail Industry Awards finalists for 2022 announced
Finalists have been announced for this year's 2022 Australia Post Online Retail Industry Awards (ORIAS Awards), recognising the achievements of online retailers in Australia.
Story image
Manufacturing
Sutton Tools deploys Infor M3 CloudSuite for manufacturing
Sutton Tools has also implemented the Infor OS cloud operating platform, including Infor Intelligent Open Network and Mongoose.
Story image
Artificial Intelligence
Eight top DevSecOps trends to support IT innovation in 2022
The use of DevSecOps practices is growing, as it is increasingly seen as the best way to produce high-quality and secure code. So what are the current trends?
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Ransomware
Secureworks reveals new information on BRONZE STARLIGHT threat group
New research from Secureworks has uncovered new information on the Chinese threat group BRONZE STARLIGHT and how they are using targeted ransomware to initiate complicated attacks.
Story image
Amazon
What brands can expect from Amazon Prime Day in Australia
Amazon Prime Day is the annual two-day shopping event, kicking off this year from July 12-13 and is the global online shopping platform's biggest sales event. 
Story image
Ransomware
Businesses unprepared to defend against ransomware attacks
Ransomware attacks continue to impact organisations worldwide with high costs, but businesses are still largely unprepared.
Story image
Online shopping
Consumers want speed, visibility in return for brand loyalty
72% of Australian shoppers want complete online order visibility and 63% are loyal to retailers who deliver goods the fastest.
Story image
WatchGuard Technologies
Ransomware volume doubled 2021 total by end of Q1 2022
Ransomware detections in the first quarter of this year doubled the total volume reported for 2021, according to a new report. 
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Gaming
Sony releases a new gaming gear brand for PC gamers
Sony has unveiled INZONETM, a new gaming gear brand for PC gamers that makes gaming more immersive and offers greater gaming ability.
Story image
Cybersecurity
Delinea’s Joseph Carson recognised with OnCon Icon Award
Delinea chief security scientist and advisory CISO Joseph Carson has been recognised as a Top 50 Information Security Professional in the 2022 OnCon Icon Awards.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Story image
Hybrid Cloud
Advent One acquires Layer 8 Networks, complements hybrid cloud offering
The acquisition comes at a time of surging demand in hybrid cloud, network virtualisation and network security.
Story image
Cloudian
Cloudian, Vertica to deliver on-premise data warehouse platform
"We’re enabling our customers to capitalise on a leading object storage platform and maximise the value of their digital assets.”
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Story image
Macquarie Data Centres
Macquarie deal to pioneer CO2-cutting data centre tech in Australia
Macquarie Data Centres has signed a multi-year deal with ResetData, an Australian first provider using Submer data centre technology. 
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Low-code
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Human Resources / HR
Honeywell launch third RAP in support of Reconciliation Australia
"RAPs provide a framework to leverage their structures and diverse spheres of influence to support the national reconciliation movement."
Story image
Civil Defence
OutSystems platform chosen as part of ADF contract
"To be included in this project is a reflection of our ability to deliver secure, modern digital outcomes for defence at an incredible pace."
Story image
Digital Fingerprint
Decline in counterfeit cherries after digital fingerprinting
Reid Fruits says there’s been a dramatic decline in counterfeit products for its cherries over the past three export seasons to Asia because of digital fingerprinting.