According to threat intelligence from NuData Security, fraudsters are using sophisticated techniques to steal data and circumvent detection. Account takeover is rising to beat out credit card cycling. Over the past 90 days, of all account transactions analyzed, 4% were high risk where only 3.5% of credit card transactions were identified as a fraudulent attempt.
Findings indicate that account takeover is becoming a preferred means of hijacking accounts containing cardholder data over the previously popular method of credit card cycling, meaning fraudsters are attempting to steal valid user accounts as opposed to using lists of stolen credit card details. There has been a 112% increase in sophisticated scripted attacks on logins intent on account takeover over the same time period in 2014.
The study also shows that breached accounts are rarely used for more than 5 purchases in an attempt to further avoid detection and that fraudsters have begun matching IP addresses to billing addresses on the stolen credit cards being used.
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