ATLANTA — LexisNexis® Risk Solutions today released the results of its latest Cybercrime Report, an analysis of transaction data from the LexisNexis® Digital Identity Network® in the second half of 2021. The report shows a significant shift to mobile fraud over the last four years, with mobile traffic representing 75% of all traffic.
The Cybercrime Report analyzed 35.5 billion transactions over the six-month period, up 44% year over year (YoY). This stemmed from increased transaction volumes from existing customers and an increased customer base within the Digital Identity Network®. Though global pandemic-related restrictions eased in the second half of 2021, the report found online transaction volumes continued to grow, specifically across financial services (52% YoY) and communications, mobile and media (45% YoY).
Increasing consumer confidence leads to enhanced demand for a customer-centric digital world. Companies are prioritizing their digital customer experience strategies to retain and acquire new customers, which is advantageous for legitimate consumers but may lead to opportunities for fraudsters.
Key findings from The LexisNexis® Risk Solutions Cybercrime Report, July to December 2021:
“It is time to unite in the fight against cybercrime. In a truly global digital economy, borders are no longer boundaries for trade or cybercriminals. It is more apparent than ever that fraud goes beyond single industries or countries,” said Stephen Topliss, vice president of fraud and identity strategy for LexisNexis Risk Solutions. “For businesses to succeed in the digital world, they need to collaborate in the fight against fraud. This can be achieved by utilizing the power of a global anonymized digital identity network and through the establishment of more focused digital consortiums among industry peers.”
Download a copy of the LexisNexis Risk Solutions Cybercrime Report, July through December 2021.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
Senior Director, Global Communications