April 29, 2019

According to the whitepaper ‘Current State of Cybercrime — 2019’, released by RSA Security, social media fraud increased by 43% in 2018.

Key Findings of the report:

  • Social media platforms like Facebook and WhatsApp are emerging as new public square for criminal deception with Social media fraud increasing by 43% in 2018.

  • Cybercriminals are increasingly relying on Facebook, Instagram, WhatsApp and other legitimate social media and messaging platforms to communicate with each other and sell stolen identities, credit card numbers and other ill-gotten gains.

  • This trend will continue in 2019 given the ease of use, absence of fees and other benefits of these platforms.

  • Fraud in the mobile channel has grown significantly over the past several years, with 70% of artifice originating in the mobile channel in 2018. In particular, fraud from mobile apps increased 680% between 2015 and 2018.

Source : The Hindu