RSA card recoveries increase 60% as a result of fraud

Written by Oliver Wade
14/08/2018

During the second quarter of 2018, RSA Security recovered nearly 5.1 million unique compromised cards and card previews from reliable online fraud stores and other sources, representing a 60% increase on the number of cards recovered in the first quarter of 2018.

In its latest Global Fraud Report for Q2 2018, the firm detected 9,185 rogue card applications, a significant increase on the 8,000 detected in the previous quarter, which accounted for 28% of all fraudulent attacks recorded.

Furthermore, the report warned of increasing levels of “human-not-present” fraud, as machines become more autonomous and make payments on behalf of their owners. This was supported by the statistic that fraud from mobile browsers and mobile applications increased in Q2 2018, and represented 71% of total fraudulent transactions recorded (402,000). A year earlier, in Q2 2017, this percentage was 61%, suggesting that this method of fraudulent attack is becoming more prevalent.

While just 0.4% of legitimate payment transactions were attempted from a new account and new device, 27% of the total value of fraudulent payments were made through new accounts and devices, as hackers continue to use burner devices and fake accounts.

RSA revealed that the average UK fraud transaction was valued at $355, compared to $193 for legitimate transactions.

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