Rogue Mobile App Fraud Soars 191% in 2019

guest · Oct 17, 2019

Rogue Mobile App Fraud Soars 191% in 2019
October 17, 2019
https://www.infosecurity-magazine.com/news/rogue-mobile-app-fraud-soars-191/

Global fraud attacks soared by 63% from the second half of 2018 to the first six months of this year, with fake mobile applications a growing source of malicious activity, according to RSA Security.
The firm’s Quarterly Fraud Report for Q2 2019 is a useful snapshot of current trends based on detections by the vendor.

However, it is attacks via rogue mobile applications that present the fastest-growing threat, soaring 191% over the same period. These attacks, which involve the spoofing of brands to trick users, now account for 29% of the total.
Daniel Cohen, director of the Fraud and Risk Intelligence Unit at RSA Security, argued that digital transformation is introducing new risks that organizations must manage.

“From one-click payment buttons to mobile apps from our favorite retailers, spending our money has never been easier. However, while the growth of digital might be good for our busy schedules, it has also opened up numerous new avenues for fraudsters,” he added.
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RSA: RSA Quarterly Fraud Report: Q2 2019
(PDF - 1.67 MB): https://www.rsa.com/content/dam/premium/en/report/rsa-fraud-report-q2-2019.pdf

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