2.7 Billion In Losses To Cybercrime In 2018

More than 351,936 complaints of Internet-related crimes and scams streamed into the FBI’s Internet Crime Complaint Center in 2018 that resulted in $2.7 billion in losses.  

Expert Comments: 

Lisa Baergen, VP of Marketing at NuData Security: 

“This report aligns with the sheer amount of records exposed since 2013: over 14 billion, according to the Breach Level Index. This is driving the market to implement more secure online authentication methods. With traditional methods of identification now unreliable due to all the data breaches (anyone can get their hands into a password for a few cents), it all comes down to identifying customers by their behavior; moving away from passwords, security questions, and credentials that are being stolen and reused for profit. Companies are now racing to implement new online authentication architectures that include behavioral analytics and passive biometrics combined with physical biometrics. These new technologies accurately identify legitimate customers while locking out cybercriminals. With multi-layered authentication solutions that can’t be replicated by a third-party, companies are thwarting fraud attempts and protecting customers.” 

 

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