New research from NuData Security has discovered an increased number of cyber fraud threats and attacks on ecommerce retail during the build up to Cyber Monday and Christmas.
The data claims that there was a 128 per cent increase in sophisticated attacks by hackers, and a 600 per cent increase in login abnormalities during the same period last year.
NuData Security, a behavioural biometrics company, analysed 80 billion behavioural events annually and this month over its own customer base. The company also performed real-time analysis of 40 billion data points to produce data that supports trends indicating mobile transactions are increasingly at risk.
The research says that the volume and sophistication of these attacks has risen due to the ease of how hackers can obtain stolen personal data. Cyber criminals are able to do this because consumers are not changing their passwords or ensuring they are secure enough.
However, Robert Capps, NuData Security’s vice president, believes that retailers should take more action to protect consumers’ data online: “Expecting consumers to maintain strong, non-reused passwords isn’t realistic, meaning retailers need to shoulder an even larger responsibility to protect their brand and users. This is why it is more important than ever for online merchants to employ technology that can help them effectively differentiate good customers from bad.”
The company predicts an increase of attacks against well-known retailers leading up to Christmas with around 82 million attacks.
“Analysing the information discovered from our Trust Consortium of data, it is clear that attackers are rapidly evolving their methods to more complex and evolved schemes. Organisations must be ever vigilant as fraudsters leverage the mass of freely available data on the dark web for cyber crime,” Capps added.