Study reveals fraud from mobile apps increased 680 per cent between 2015 and 2018.
In a sign that platforms like Facebook and WhatsApp are emerging as new public square for criminal deception, a study has found that social media fraud increased 43 per cent in 2018.
The results suggest that cyber criminals are increasingly relying on Facebook, Instagram, WhatsApp and other legitimate social media and messaging platforms to communicate with each other and sell stolen identities, credit card numbers and other ill-gotten gains.
Given the ease of use, absence of fees and other benefits of these platforms, continuation of this trend in 2019 should come as no surprise, said "Current State of Cybercrime - 2019" white paper, released by RSA Security.
Trade in stolen identities would gain greater momentum with more stores likely opening on legitimate platforms to sell this type of data, the study said.
According to researchers, fraud in the mobile channel has grown significantly over the last several years, with 70 per cent of artifice originating in the mobile channel in 2018.
In particular, fraud from mobile apps increased 680 per cent between 2015 and 2018, said the study, adding the use of rogue mobile applications to defraud consumers was on the rise.
With one out of five cyber attacks attributed to rogue mobile apps in 2018, RSA identified an average of 82 rogue mobile applications a day last year across popular app stores.
"We expect the popularity of the mobile channel for fraud will continue through 2019, especially as cyber criminals keep finding ways to introduce tactics and technologies such as phishing and malware to the mobile channel," the report said.
Indo-Asian News Service
According to outage tracking website Downdetector.com more than 14,000 users reported issues with Instagram, while more than 7,500 and 1,600 users reported issues with Facebook and WhatsApp,
The group also calls for higher rates of taxation on these companies, with some of the revenue to be used to fund more research into how some young people are being put at risk of self-harm, suicide and other severe mental health issues.
Mark Zuckerberg always knew. In 2012, when Instagram was 2 years old, with 13 employees and no obvious path to profitability, Zuckerberg knew that the fast-growing photo app was a potential threat to Facebook
The COVID-19 pandemic has entered a new phase with the Omicron variant, which could infect 60 percent of people in Europe by March, and could bring it to an end, the WHO Europe director said on Sunday.
A deadly collision between an overspeeding motorcycle and a car in Los Angeles resulted in the death of the biker and minor injuries to the car passengers.
Bloc calls attacks on UAE "a flagrant violation of international law... and a real threat to vital civilian installations, energy supplies, and global economic stability."