NuData research shows half of all logins now high-risk
Account takeovers increased by ten times from 2016 to 2017, according to research by NuData Security, which found that 40 percent of account access attempts were flagged as high-risk in 2017, increasing from only 15 percent in 2016. The company estimates that half of all login attempts are now high-risk, according to the announcement.
Ryan Wilk, Vice President at NuData Security, said that data breaches are making personally identifiable information (PII) more readily available to criminals on the dark web.
The total number of purchases made across NuData’s client based doubled in 2017, as did the number of purchases made with flagged credit cards. The rollout of EMV chips in the U.S. meanwhile has caused a shift in fraud behavior towards card-not-present transactions. The number of mobile transactions processed by NuData increased by 150 percent, and the company considered 30 percent of mobile transactions high-risk.
“Traditional models of account access are being bypassed by bad actors over and over,” said Wilk. “Due to the easily-available stolen credentials, companies can no longer trust the users behind the device, making trust the key problem in the online ecosystem. To prevent the 2017 numbers from repeating in 2018, companies should review their authentication frameworks and make sure they have multi-layered solutions that include physical and passive biometrics technology.”
The behavioral biometrics company, which was acquired by Mastercard last year, picked up a 2017 Identity Proofing Platform Award as a leader in the innovation category from Javelin Strategy & Research.
authentication | biometrics | fraud prevention | NuData Security