Mumbai: India is considered among the leading countries in Asia when it comes to software and technology. But now, India is also among the league of phishing hosting countries, according to cybersecurity company RSA’s latest research report.
According to the RSA Quarterly Fraud Report for 2019, Q1, India stands second to the U.S. on the list of top 10 phishing hosting countries in the world.
Phishing and malware-based attacks are the most prolific online fraud tactics developed over the past decade. Phishing attacks not only enable online financial fraud but these sneaky threats chip away at our sense of security as they get better at mimicking legitimate links, messages, accounts, individuals and sites. Automated fraud comes in the form of the various active banking Trojan horse malware families in the wild today; these malicious programs do their work quietly and often without detection until it is too late.
By tracking and reporting the volume and regional distribution of these fraud threats, RSA hopes to contribute to the ongoing work of making consumers and organizations more aware of the current state of cybercrime and fueling the conversation about combating it more effectively.
RSA-Observed Fraud Attack and Consumer Trends:
During the period from January 1 to March 31, 2019, RSA observed several global fraud trends across attack vectors and digital channels. The highlights include:
- Phishing accounted for 29 percent of all fraud attacks observed by RSA in Q1. While overall phishing volume increased less than 1 percent quarter over quarter, in terms of overall fraud attacks, phishing decreased sharply due to the exponential growth of attacks from rogue mobile apps
- Fraud attacks from rogue mobile applications increased 300 percent, from 10,390 rogue apps in Q4 to 41,313 in Q1
- Fraud attacks introducing financial malware increased 56 percent, from 6,603 in Q4 to 10,331 in Q1
- Card-not-present (CNP) fraud transactions increased 17 percent last quarter, and 56 percent of those originated from the mobile channel. The average value of a CNP fraud transaction in the U.S. was $403, nearly double that of an average genuine transaction of $213
- RSA recovered over 14.2 million unique compromised cards in Q1, a 33 percent increase from the previous quarter.