Security News > 2022 > January > Spike in brand abuse attacks, 3-D Secure transaction volume rising

Outseer has published its latest quarterly Fraud & Payments report, confirming a troubling and massive spike in worldwide brand abuse attacks.

According to the report, brand abuse attacks have continued to dominate fraud actor tactics, growing 274% in Q3 2021 annually and comprising 45% of all attacks detected and investigated.

As card-not-present digital payments registered explosive growth throughout 2021, 3-D Secure transaction volume also scaled across every region.

According to a recently published study by Aite-Novarica group, 69% of the 756 merchants surveyed claimed they are currently using 3-D Secure as a payment authentication method, with the majority attributing their usage of 3-D Secure "To lower fraud losses" and "Increased authorization approval rates."

"It should come as no surprise that payment transaction fraud has skyrocketed to new heights. This is particularly evident in regions where 3-D Secure as the go-to payment authentication method has not been widely adopted yet. This report validates that every digital business must prioritize strong and effective fraud prevention measures like 3-D Secure in order to protect their brand and their customers."

The United States has remained the top hosting country for phishing attacks in Q3 2021, accounting for 73% of ISPs hosting these types of attacks.

News URL

https://www.helpnetsecurity.com/2022/01/24/brand-abuse-attacks-spike/