Consumers and fraudsters alike are maximizing the opportunities that a global digital economy affords. The impact of cybercrime on geographies, industries and businesses throughout the Asia Pacific region show some alarming trends.
Cybercriminals are becoming more sophisticated in their fraudulent activities. The techniques they use are increasingly automated, complex and ever evolving. Attack volume and mobile attack rates are growing especially fast, thanks to global bot activity that can easily overwhelm a business’s fraud defenses.
The result is that fraud is occurring on an enormous scale in massive, interconnected networks that traverse region, country and industry borders.
Businesses must look to layered, inter-connected, global defenses to mitigate the impact of cybercriminals. If they are to be successful in detecting and blocking networked fraud in near real-time, they must be willing to share intelligence relating to online behavior, transaction trust, transaction risk, blacklists and whitelists.
A network without borders is the best way to defend against fraud without borders.
Want to know more? Check out our infographic, “Fraud Without Borders- APAC ” and the full “LexisNexis® Risk Solutions Cybercrime Report, July-December 2019."