Fraudster Accessing Information

40% of all account access attempts are high-risk, says NuData Security

NuData Security’s statistics for 2017 paint a worrying picture of the account takeover landscape

VANCOUVER, British Columbia, April 17, 2018NuData Security, a Mastercard company and a leader in the field of passive biometrics, announced today that they have identified a series of changes in account creation and takeover.

Looking at the billions of events monitored by NuData Security, 40% were flagged as high-risk. Half of all login attempts deemed high risk compared to 15% in 2016, and account takeovers increased ten-fold in 2017. Account takeover is notoriously difficult to combat, as companies can’t discern between legitimate and fraudulent users – as they are both presenting correct credentials. “As data breaches continue to break records year over year, more and more PII becomes readily available for fraudsters to access on the dark web,” said Ryan Wilk, Vice President at NuData Security. “With the password and credential reuse, and the wealth of available credentials, it is not surprising that we have seen such a stark increase.”

NuData Security also identified that the total purchases across their client base had doubled from 2016 to 2017, with the number of purchases made with flagged credit cards also doubling accordingly. The rollout of EMV in the U.S. has made it harder for bad actors to commit fraud in the card present environment, resulting in a shift towards card not present where they can try different techniques.

“Traditional models of account access are being bypassed by bad actors over and over,” Wilk continued. “Companies should review their authentication frameworks and make sure they have multi-layered solutions that include physical and passive biometrics technology.”

NuData also released statistics regarding mobile phone events, showing a 150% increase in total mobile phone events, with 30% of those being considered high risk.

About NuData

NuData Security is a Mastercard company. It helps businesses identify users based on their online interactions and stops all forms of automated fraud. By analyzing over 200 billion events annually, NuData harnesses the power of behavioral and biometric analysis, enabling its clients to identify the human behind the device accurately. This allows clients to verify users before a critical decision, block account takeover, stop automated attacks, and reduce customer insult. NuData’s products are used by some of the biggest brands in the world to prevent fraud while offering a great customer experience.

Contact

Lara Lackie, Eskenzi PR for NuData Security: lara@eskenzipr.com

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