US$1 US$3 - LexisNexis Risk Solutions · With the proliferation of personal data stored online, how...
1
With the proliferation of personal data stored online, how can you proactively fight fraud? International fraud ring of 10,000 members trafficking stolen identities and financial information = US$500 million in losses 1 U.S. financial institutions conducting 50% of business online saw 2,000 fraud attempts a month 2 Among Asia commercial businesses, digital data skimming is 6% of fraud 3 60% of Asia Pacific banks experience fraud using synthetic identities built from data stolen from social media and mobile apps, as well as conventional sources 4 Fraud is costly— to you and your customer What are you doing to protect your customers’ personal data? Learn more by visiting risk.lexisnexis.com/ID-EN 1 https://www.cnbc.com/2018/02/22/russian-cybercrime-bust-and-how-fight-the-hackers-commentary.html 2 2017 LexisNexis® True Cost of Fraud™ study 3 https://www.strategicrisk-asiapacific.com/fraud-risk-halved-in-2017-but-professional-fraud-on-the-rise/1426373.article 4 https://www.theedgesingapore.com/criminals-are-now-creating-non-existent-identities-conduct-fraud-survey-finds 5 https://www.thepaypers.com/digital-identity-security-online-fraud/trust-in-digital-services-relatively-low-in-asiapacific/770826-26 6 https://www.pwccn.com/en/retail-and-consumer/publications/total-retail-2017-china/total-retail-survey-2017-china-cut.pdf 7 https://www.omicsonline.org/open-access/ecommerce-adoption-and-analysis-of-the-popular-ecommerce-businesssites-in-malaysia-2151-6219-1000347.pdf 8 http://www.experian.com.sg/wp-content/uploads/2018/04/Digital-Consumer-Insights-2018.pdf LexisNexis and the Knowledge Burst logo are registered trademarks of RELX Inc. True Cost of Fraud is a trademark of LexisNexis Risk Solutions Inc. Threatmetrix is a registered trademark of Threatmetrix, Inc. Other products and services may be trademarks or registered trademarks of their respective owners. Copyright © 2018 LexisNexis. All rights reserved. An increase in personal data means an increase in fraud attempts. The statistics are alarming: • Asia Pacific: <50% trust online transactions 5 • China: 69% worry that personal data can be stolen from mobile devices 6 • Malaysia: 41% using e-commerce worry about their personal information 7 • 82% find fraud unacceptable 8 • 51% will switch or cancel services if fraud occurs 8 Online and mobile commerce + social media = massive increase in personal data found online US$1 online/mobile fraud = US$3 recovery efforts 2
Transcript of US$1 US$3 - LexisNexis Risk Solutions · With the proliferation of personal data stored online, how...
With the proliferation of personal data stored online, how can you proactively fight fraud?
International fraud ring of 10,000 members trafficking stolen identities and financial information = US$500 million in losses1
U.S. financial institutions conducting 50% of business online saw
2,000 fraud attempts a month2
Among Asia commercial businesses,
digital data skimming is 6% of fraud3
60% of Asia Pacific banks experience fraud using synthetic identities built from data stolen from social media and mobile apps, as well as conventional sources4
Fraud is costly—to you and your customer
What are you doing to
protect your customers’ personal data?Learn more by visiting risk.lexisnexis.com/ID-EN
1 https://www.cnbc.com/2018/02/22/russian-cybercrime-bust-and-how-fight-the-hackers-commentary.html 2 2017 LexisNexis® True Cost of Fraud™ study 3 https://www.strategicrisk-asiapacific.com/fraud-risk-halved-in-2017-but-professional-fraud-on-the-rise/1426373.article 4 https://www.theedgesingapore.com/criminals-are-now-creating-non-existent-identities-conduct-fraud-survey-finds 5 https://www.thepaypers.com/digital-identity-security-online-fraud/trust-in-digital-services-relatively-low-in-asiapacific/770826-26 6 https://www.pwccn.com/en/retail-and-consumer/publications/total-retail-2017-china/total-retail-survey-2017-china-cut.pdf 7 https://www.omicsonline.org/open-access/ecommerce-adoption-and-analysis-of-the-popular-ecommerce-businesssites-in-malaysia-2151-6219-1000347.pdf 8 http://www.experian.com.sg/wp-content/uploads/2018/04/Digital-Consumer-Insights-2018.pdf
LexisNexis and the Knowledge Burst logo are registered trademarks of RELX Inc. True Cost of Fraud is a trademark of LexisNexis Risk Solutions Inc. Threatmetrix is a registered trademark of Threatmetrix, Inc. Other products and services may be trademarks or registered trademarks of their respective owners. Copyright © 2018 LexisNexis. All rights reserved.
An increase in personal data means an increase in fraud attempts.
The statistics are alarming:
• Asia Pacific: <50% trust online transactions5
• China: 69% worry that personal data can be stolen from mobile devices6
• Malaysia: 41% using e-commerce worry about their personal information7
• 82% find fraud unacceptable8
• 51% will switch or cancel services if fraud occurs8
Online and mobile commerce + social media = massive increase in personal data found online
US$1 online/mobile fraud
= US$3
recovery efforts2
