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Fintech Firms Primary Targets for Cybercrime Attacks

Research reveals fintech firms are prime targets for cybercrime with 130 million attacks detected in 90 days.

By Roy Urrico | Updated on May 08, 2017

The financial services industry are prime targets according to research revealing 130 million fraud attacks detected in just a 90-day period with the growth in attacks outpacing transaction growth by 50%.

San Jose, Calif. based digital identity firm’s ThreatMetrix’s Q1 Cybercrime Report, based on actual detected cybercrime attacks from January-March 2017, showed heightened risk levels attributed to significant growth in cybercriminal activity from emerging markets. Data revealed 50% more cybercrime attacks originating from all of Europe than U.S., the single most attacked nation, and increasing cyberattacks from South America.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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