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71% of all fraud transactions come from mobile browsers and apps

Martin Greenland | 07:29 Wednesday 15th August 2018

Some 71% of total fraudulent transactions recorded in Q2 2018 came from mobile browsers and applications, according to a new study.

The latest report from RSA Security’s Fraud and Risk Intelligence (FRI) unit revealed that this figure represented a six percentage point rise on the 65% reported in Q1 2018 (Q2 2017: 61%).

In addition, the RSA found that just 0.4% of legitimate payment transactions were attempted from a new account and new device.

However, this combination made up 27% of the total value of fraudulent payments, up from the 22% reported in Q1 2018.

Some 28% of fraud (value) in online banking payment originated from a trusted account/device.

The average UK fraud transaction was valued at $355 in Q2 2018, compared with just $193 for legitimate transactions.

In Q2 2018, RSA recovered almost 5.1 million unique compromised cards and card previews from online fraud stores and other sources.

This figure represented a 60% rise in cards recovered by the RSA compared with Q1 2018.

You can download the full RSA Quarterly Fraud Report: Q2 2018 from its website.

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