scary cyber hacker

Scary cyber security stat-facts for a super spooky halloween!

While the security industry is starting to realize the real problem lying in wait — it’s harder for some to realize how bad identity theft and online fraud really is. Do you know what the Dark Web is? You’d be surprised how many people don’t, and if not, it’s time to find out!

What really scares me is watching the habits of some of the people close to me in my life. The risks they take, not thinking twice about clicking on a phishing email, not locking their phone, downloading apps from anywhere, and posting anything and everything socially. It’s hard for people to realize that in not taking basic precautions they are flirting with a real-life boogeyman who is more than happy to take your identity.

So, just in time for Halloween, if you weren’t scared already, here are some facts that should make you sit up with an eerie feeling in your bones!

Security’s weakest links

Areas rated as most difficult to secure.[1]

  • Mobile devices
  • Social media applications
  • Laptops & notebooks
  • 89% of breaches had a financial or espionage motive.[2]
  • 66% of large mCommerce companies suffered at least one successful attack in the past 12 months.[3]
  • more than 51.9% fall into the unenviable category of having been breached 1-5 times over 12 month period.[4]
  • 64% of companies have experienced web-based attacks.
  • 62% experienced phishing & social engineering attacks.
  • 59% of companies experienced malicious code and botnets and 51% experienced denial of service attacks. Only 35% of companies say a malicious insider was the source of the cybercrime.

 Cyber Fraud costs

  • US merchants reported an average of 8% increase over last year in the cost per dollar of fraud losses. For every dollar of losses, merchants are losing $2.40 based on chargebacks, fees and merchandise replacement.[5]
  • monthly fraud attempts have spiked by 33% over last year, with 46% getting past merchants’ fraud mitigation efforts[6].

Identity & CNP Fraud

  • Did you know that while the US has a $9B fraud problem, it is the false declines that are a much larger problem at $118B.
  • $15 billion was stolen from 13.1 million U.S. consumers in 2015, compared with $16 billion and 12.7 million victims a year earlier.[7]
  • In the past six years’ identity thieves have stolen $112 billion.[8]
  • The impact of card-not-present fraud exceeds $9 Billion[9]dollars per year.
  • Issuers directly lose $10.9 billion to card fraud each year: driven mostly by credit cards, which accounted for 71% ($7.6 billion) of the losses while debit accounted for 25% ($2.7 billion).

Manual reviews are no treat

  • Most organizations offer free credit reporting for a year post-breach, but by then, it’s often too late.
  • Stolen identities that slip past bank security measures may eventually be detected by the victims through review of their credit report.
  • Nearly a third of application fraud is created from identities that have never before been seen by a FI, making it nearly impossible to validate through conventional means. [10].
  • Since 2013 there are 3,809,448 records stolen from breaches very day , 158,727 per hour, 2,645 per minute and 44 every second of every day.[11]


  • Payments made via mobile devices in the US are expected to total $90 billion by 2017 according to Forrester Research.
  • Mobile wallets are seen as a unique area of concern around the growth of account takeovers, and 56% of issuers believe that they can’t further reduce takeovers without hurting the customer experience.[12]


  • A year after the U.S. began complying with the mandated shift to EMV credit and debit chip cards. Only about 40% of merchants have completed EMV implementation.

False Declines (black Friday is coming…)

  • While holiday revenue for e-commerce merchants will rise 13%from $69 billion in 2015 to $78 billion this year, Riskified said the average order is 55% less likely to be fraudulent than it is the rest of the year.
  • While the average order value climbs steadily throughout the season from Black Friday ($178.68) and Cyber Monday ($165.04) to New Year’s Eve ($191.02), the fraud rates on those days will be 74, 70 and 69% lower, respectively, than they are on an average day during the rest of the year.
  • According to Riskified’s analysis, revenue lost to declining good orders is a far bigger threat this year than actual fraud. Because merchants have less time to deal with a much greater volume of orders than usual, fraud decisions will be less accurate. While the company estimates that 60% of declined orders are actually legitimate on an average day, 80% of declines are legitimate during the holiday season.



[3] p11


[5] p7

[6] p8<



[9] p15

[10] p5


[12] p5