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More from Sift #FibreFriday What consumers say: When asked, consumers identified social media platforms, streaming services, bank accounts, and online shopping as the top sites or apps where they experienced ATO. ATOs are affecting many types of accounts.

It's the end of the week, which means another #FIBRFriday, where we share insights from our Fraud Industry Benchmarking Resource, FIBR. Last week we talked about the increase in adoption of 2FA across businesses and industries in Sift's Global Network, and the shift in consumer sentiment toward MFA. Today, we're showing you which industries had a higher (or lower) than average 2FA rate in Q2 2023 to Q2 2024, according to FIBR. Do any of these industry trends surprise you? Share your thoughts in the comments. 📌 Check out our latest Digital Trust Index report for more FIBR findings: https://buff.ly/3B1XgNS 🔗 And remember that FIBR is interactive, explore the tool yourself to compare fraud benchmarks: https://buff.ly/3K7l9ES #FraudPrevention #FraudTrends #Fraud #FraudRates #2FA #MFA #AccountTakeovers

It's #FIBRFriday again, our weekly series where we share insights from our Fraud Industry Benchmarking Resource, FIBR. Today, we're looking at account takeover (ATO) attacks and where they're most prevalent. Our latest Digital Trust Index, powered by FIBR data, revealed that the average ATO attack rate increased by 24% in Q2 2024 compared to the same time last year. This spike follows an alarming 354% year-over-year increase in Q2 2023. When asked, consumers identified social media platforms, streaming services, bank accounts, and online shopping as the top sites or apps where they experienced ATO. 📌 For more insights, check out our Digital Trust Index report for the latest FIBR findings on ATO: https://buff.ly/3B1XgNS 🔗 And remember that FIBR is interactive, explore the tool yourself to compare fraud benchmarks: https://buff.ly/3K7l9ES #FraudPrevention #FraudTrends #Fraud #FraudRates #AccountTakeovers #AccountHacking #DigitalTrust

📊 We're here with another #FIBRFriday, where we share weekly insights from our Fraud Industry Benchmarking Resource -- this time with newly released data from Q1 of 2024. This week, we're examining the ticketing industry (companies that engage in the sale or distribution of tickets for events, services, or transportation), which has seen some major spikes in payment fraud, increasing by almost 70% in 2023 compared to the previous year, according to our latest Index report. In Q1 of 2024, payment fraud in ticketing reached 4% --- a ⬆️ 25% increase compared to Q4 and a ⬆️ 54% increase compared to Q1 of last year. What do you think could be contributing to this spikes in fraud for this industry? Let us know in the comments below 👇 FIBR is interactive, explore the resource yourself to see how your own industry's fraud rates compare: https://buff.ly/49fMYFo And find out more about the latest payment fraud trends in our Q1 Index report: https://buff.ly/3PFn7iU #AIPowered #GrowFearlessly #FraudPrevention #FraudTrends #Fraud #Benchmarking #Data #SiftFIBR #FIBR #PaymentFraud

It is FIBRFriday at Sift. Read below for some of the new results from the Sift data.

We're back with another #FIBRFriday, where we share insights from our Fraud Industry Benchmarking Resource, FIBR. This week, we're taking a close look at accounts with loyalty points, which have a high rate of account takeover attacks (ATO), reaching as high as 11% in Q1 of this year, well above other industry averages which hover around 2-3%. Online accounts holding loyalty points are prime targets for account takeover attacks because these points have monetary value and can be redeemed for goods, services, or discounts. Attackers can easily exploit these accounts for financial gain, often with less scrutiny compared to direct financial transactions. And many consumers may not monitor their loyalty points as closely as their bank accounts, making it easier for fraudsters to go undetected. 🔗 FIBR is interactive, explore the tool yourself to compare your business's fraud metrics across industries or geographies: https://buff.ly/3K7l9ES #FraudPrevention #FraudTrends #Fraud #FraudRates #SiftFIBR #FIBRInsights #ATO #AccountTakeovers

We're here with another #FIBRFriday, our weekly series where we share interesting findings from our Fraud Industry Benchmarking Resource, FIBR: We've just expanded FIBR with trend data for account takeover (ATO) attack rates and two-factor authentication (2FA) rates and today we're taking a deeper dive into what the 2FA data can show us: 🔹 Two-factor authentication (2FA) challenges occur in about 10% of transactions overall. 🔹 However, the 🍟 food ordering and delivery🥤services have a 2FA rate of 📉 3.5%—slightly more than one third of the average rate across all industries. 🔹 For businesses like these, it’s more important to focus on speed-of-purchase and reducing friction. 🔹 Other verticals, such as those selling higher value goods, may engage 2FA at a higher rate to protect user accounts that hold a higher stored value. FIBR is interactive, explore the tool yourself to compare your business's fraud metrics across industries or geographies: https://buff.ly/3K7l9ES #FraudPrevention #FraudTrends #Fraud #FraudRates #SiftFIBR #FIBRInsights #PaymentFraud #ATO #AccountTakeovers #2FA #AIPowered #GrowFearlessly #FoodDelivery

Attention, Sweden! 🚨🇸🇪 Fraud is a growing concern, affecting far too many. Recent reports show that scams targeted a significant portion of our population last year, resulting in substantial financial losses totalling $2.75 billion. Addressing this alarming trend, Prime Minister Kristersson is taking action. Collaborating with banks, they're working on strategies to fortify our defenses against increasingly sophisticated scams, such as deceptive apps and fraudulent investment schemes. But is it enough? Enter ThreatMark – your partner in the fight against digital fraud.🛡️ Fraud isn't just about monetary impact. Let's stand together to ensure a safer and more secure digital financial landscape for all.   Speak to ThreatMark Fraud Fighter Nicholas H. for further insight and check out our latest article here: https://bit.ly/3Ubu0v2 #CombatFraud #DigitalFraud #NordicDigitalFraud

💡 We're here for another #FIBRFriday, where we share insights from FIBR, Sift's Fraud Industry Benchmarking Resource tool. Today, we looked at online travel and lodging, where the payment fraud attack rate spiked to 6.4% in Q1 of last year, most likely due to an increase in holiday travel and vacation bookings. We see the attack rate tapering down for the remainder of the year, and spiking again in the summer. FIBR is interactive, so explore the tool yourself to see how your own industry’s fraud rates compare: https://buff.ly/47t8Gp8 #AIPowered #GrowFearlessly #fraudprevention #fraudtrends #fraud #benchmarking #data

Fraudsters love Nordics. So does ThreatMark! Recent outbreak of scam resulting in Authorised Pushed Payment aka #APP fraud in Sweeden led to the governmental actions. With upcoming #liability #shift drafted in PSD3 banks need to do more to protect customers in order to keep the image of safe harbours for consumers' savings. ThreatMark provides the most effective protection against #Scam & #SocialEngineering driven #fraud since we don't focus on individual transactions only but we go after the whole crime ring behind the fraud operation. read more bellow...