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11.10.15

Fraud Attempts on the Rise, Apple IDs Targeted (Nov. 10, 2015)

Fraud attempts are on the rise throughout multiple industries, according to a new study from fraud prevention and identity verification specialist IDology Inc. The company’s just-released 2015 Fraud Report canvassed senior executives and managers from industries including banking and financial services, retail, telecom, and other business and consumer services. The survey found that 46 percent of respondents reported an increase in suspected fraud attempts in 2015—up from 40 percent last year and 36 percent in 2013.

Fraud was most prevalent in online applications, with 71 percent of respondents reporting the Web as the channel most-often used by fraudsters. As EMV continues to gain traction, providing increased security at the POS, fraud is expected to continue to shift online, the report notes. Mobile fraud attempts also are a growing concern, with 8 percent of respondents citing mobile as the most-targeted channel, up from 3 percent in 2014—a jump likely related to mobile’s increasing role in consumers’ financial lives, IDology said.

In other fraud news, details have emerged of a global phishing scam targeting more than 800 million Apple ID accounts. Fraudsters reportedly sent a convincing email to Apple account holders, claiming limitations had been placed on their accounts and requesting credit card and password “verification” to fix the problem. The scam was identified by cybersecurity firm Comodo Antispam Labs.

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This entry was posted on Tuesday, November 10th, 2015 at 3:42 pm and is filed under Pay News.

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