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Fake mobile app fraud tripled in first half of 2019

October 16, 2019

In Q2 2019, RSA Security identified 57,406 total fraud attacks worldwide. Of these, phishing attacks were the most prevalent (37%), followed by fake mobile apps (usually apps posing as those of popular brands).

But while phishing went up by just 6 percent when the numbers from 1H 2019 are compared to those from 2H 2018, attacks via financial malware and rogue mobile apps have increased significantly (80 and 191 percent, respectively).

“The fact that fraud via fake mobile applications tripled in the first half of 2019 is testament to how perpetrators will constantly seek out weak points. Here, they are exploiting consumers’ growing trust in mobile apps as a means to interact with brands and make purchases,” Daniel Cohen, Director of the Fraud and Risk Intelligence Unit at RSA Security, noted.

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