Information Age: Cyber-related fraud overtaking traditional fraud-based crime

October 20, 2017 — Cyber-related fraud overtaking traditional fraud-based crime

Ryan Wilk, VP at NuData, comments on new experimental statistics on fraud and computer misuse offences revealing an estimated 10.8 million incidents of crime in the latest survey year.

Commenting on this, Ryan Wilk, VP at NuData Security, said “This level of recorded fraud figures is astounding, and bad news for consumers who often bear the brunt of many direct costs and pains – especially in account takeover and new account fraud. The increasing volume of attacks globally has also been attributed to more fraudsters willing to commit the crime, more data available on the black market, and more financial institutions and merchants that are vulnerable to attacks. It’s incumbent upon companies to secure their customers’ trust by keeping their accounts safe from hackers without hurting their customer experience. They can’t afford to hear their customers say, ‘My account got hacked again.’”

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