Cyber Criminals Double Their Account Creation Rate

At the beginning of 2015, account creation used for fraudulent purposes was as low as 28% of total accounts made. By the middle of summer, those rates doubled. Out of 500 million new accounts created online through various websites and apps, 57% of them were reported by a security company as high risk.

Simply stealing credit card numbers is not enough for cyber criminals anymore. Now, they are creating entirely new accounts under others’ names in order to gain the full credit limit.

Multiple Fraud Acts

Director of Customer Success for NuData Security, Ryan Wilk, explains how criminals are searching for other …read more