As the Asia-Pacific region undergoes its digital transformation by expanding Internet access and ecommerce shopping, cybercrime is also growing in the region – at alarming rates, says the ThreatMetrix study.
“Spurred by massive economic growth, the Asia-Pacific region continues its rapid digital transformation. Cybercrime in the region is also growing with attacks becoming more organized and sophisticated,” states the 2017 APAC Cybercrime Report by ThreatMetrix.
The Asia-Pacific region remains vulnerable to malware, with Indonesia, India, and the Philippines among the top countries with the highest number of malware infections, says the report.
The study found that online banking is a key target as fraudsters attempt to monetise stolen and spoofed identity credentials resulting from numerous data breaches around the world.
As the holiday shopping season approaches, cybercriminals become more active and try to capitalize on the online shopping frenzies.
“Nearly 260,000 daily attacks were detected and stopped in real-time. This has increased 105% since 2015, illustrating the Asia-Pacific region’s increased vulnerability to cyber attacks,” said the report.
According to the study, the APAC region continues to see tremendous growth with overall transaction volume increasing 62% over the previous year. Mobile transactions make up 46% of overall transaction volume, and continue to grow year-on-year, increasing 56% since 2015.
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