The Confidence Amid Chaos report by LexisNexis® Risk Solutions revealed that dedicated remote scam centres headquartered in parts of Southeast Asia drive fraud.
Data from the Digital Identity Network show cybercriminals favor border areas in Cambodia, Myanmar, and remote parts of Thailand.
Stephen Topliss, vice president of fraud and identity at LexisNexis Risk Solutions, said that dedicated scam centers facilitate digital attacks on consumers worldwide.
“While these scam centers will continue to drive the threat of human-initiated attacks, organisations cannot afford to be complacent about the growing sophistication of bots, which can display more human-like behaviour to evade traditional prevention solutions. By focusing on identifying advanced bots in real-time, businesses can mitigate their ability to create fraudulent accounts or test stolen login credentials for future account takeover attacks,” Topliss said.
Confidence Amid Chaos
The study also revealed that third-party account takeover fraud (29%) was the leading type of fraud reported by clients in 2023,
Moreover, human-initiated attacks surged by 40% (1.3 billion). Cybercriminals are continually expanding their scale of activity, reflected in a 19% year-over-year (YOY) increase in the global human-initiated digital attack rate compared to the previous year.
Bot-initiated attacks
Automated bot-initiated attacks remained steady, growing 2% year over year (3.6 billion) in 2023 due to advanced bot detection capabilities involving the detection of bot traffic that mimics the locations of legitimate customers via IP proxies, identification of unusual timing of events and abnormal behaviours on-page or in-app, and leveraging proxy-piercing technology to conceal the behaviour of cybercriminals through virtual private networks (VPNs).