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Fintech Firms Primary Targets for Cybercrime Attacks

The financial services industry is a prime target, 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%.

The financial services industry is a prime target, 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%.

The San Jose, Calif.-based digital identity firm’s ThreatMetrix’s Q1 Cybercrime Report, based on actual detected cybercrime attacks from January to 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 the U.S., the single most attacked nation, and increasing cyberattacks from South America.

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