This report is based on cybercrime attacks detected by the Digital Identity Network from July-December 2021, during near real-time analysis of consumer interactions across the customer journey, from new account creations, logins, payments and other non-core transactions such as password resets and transfers.

The LexisNexis® Risk Solutions Cybercrime Report is based on cybercrime attacks detected by the LexisNexis® Digital Identity Network® from January – June 2019, during real-time analysis. It covers the digital identity network, and attacks on “high-risk” transactions.

From the report, “Widespread data breaches, the EMV migration, and efforts to extend the longevity of the SSN, have created an ideal environment in which synthetic identity fraud is flourishing. Furthermore, consumers’ physical and digital footprints are becoming more complicated, meandering across locations, devices, and geographies. This makes it more difficult than ever to differentiate legitimate user behavior from fraudsters. Businesses need to prevent synthetic identities from entering their ecosystems by understanding anomalies to individual user behavior and helping to correlate the seemingly disconnected events and security incidents in real time. Combining historical and real-time data and leveraging machine learning to analyze individual behavior across channels can reveal complex patterns to help detect and block synthetic identities without causing friction for real customers.”

Since 2015, LexisNexis Risk Solutions has administered an annual study to determine the extent to which fraud cases span multiple industries. The national online survey included 800 fraud mitigation professionals from five industry segments and government with oversight or direct involvement in fraud programs at their organizations. It has a margin of error of +/- three points (at the 95% confidence level), and LexisNexis was not identified as the research sponsor.

From the report, “Fraud from stolen identities or cyber attacks/hacking were the types of fraud most concerning to fraud mitigation professionals.” Read on to discover more.