Question: Which organization released the report- Current State of Cybercrime Report, 2019?
(a) SIPRI
(b) World Economic Forum
(c) HCL Solutions
(d) RSA Security
Answer: (d)
Related facts:
- The RSA Security released the Current State of Cybercrime Report, 2019 recently.
- The report highlighted cybercrime details and the initiatives to be taken for the safety.
Major highlights of the report:
- Digital transformation is making it easier not only for legitimate organizations to expand their reach but also for fraudsters and other bad actors to expand theirs.
- Cybercriminals are increasingly using mobile for frauds. It is evidential with a whopping 680% increase in fraud transactions from mobile apps between 2015 and 2018
- Fraud in the mobile channel has grown significantly over the last several years, with the origin of 70% of fraud transactions in the mobile channel in 2018.
- The usage of rogue mobile applications to fraud the consumers are on the rise each year. RSA report mentioned an average of 82 rogue mobile applications per day last year across most popular app stores. 1 of 5 cyber attacks is attributed to the rogue mobile apps in 2018.
- The frauds are done by various means which includes SMS texts rather than email to deliver phishing messages aimed at getting victims’ account credentials, credit card numbers, etc.
- 57% of companies use up to 10 different anti-fraud tools to manage fraud across channels
- RSA reported that there is a fast-growing trend of cybercriminals in using Facebook, Instagram, WhatsApp and other social media and messaging platforms to communicate with each other and sell stolen identities, credit card numbers etc.
- Social media fraud attacks had increased 43% by the end of last year, as cybercriminals continued to find new ways of making social media platforms useful for them.
- Cybercriminals are developing their own apps to increase their anonymity, avoid detection and otherwise keep anti-fraud forces from tracking them down and exposing what they’re doing.
- Money laundering is essential elements in the proliferation of cybercrime, as much of the funds come in the form of crypto currencies with a chain traceable to crime.
- 52% of financial institutions are planning to adopt an authentication hub in the next 1-2 years.
Links:
https://community.rsa.com/docs/DOC-101537
https://www.livemint.com/news/world/social-media-fraud-increased-43-in-2018-report-1556461421827.ht
https://www.pressreader.com/