Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Threat Intelligence

Europe Pumps Out 50% More Cybercrime Attacks Than US

Cyberattacks originating from Europe were substantially higher than nefarious activity launched from the US during the first quarter.

Cybercrime attacks launched from Europe reached more than 50 million in the first quarter, double the volume coming out of the US, according to the ThreatMetrix Q1 Cybercrime Report released today.

And within Europe, Italy, France, Germany, and the UK accounted for half of all attacks originating out of the region, with the UK and Germany contributing the lion's share.

Europe's open borders that allow for residents of the European Union to freely travel among the member states and engage in such activities as opening bank accounts outside of one's home state make it easier than the US in committing cybercrime, says Alisdair Faulkner, ThreatMetrix's chief products officer.

Political and financial uncertainties in Europe, combined with the sizable number of organized crime rings and Internet-connected customers engaging in ecommerce, also contribute to the volume of cyberattacks that originate out of Europe, says Vanita Pandey, product marketing vice president at ThreatMetrix.

Target Countries

Europe's UK, Germany, France, and Italy -- along with the US -- focus their cyberattacks on the UK and the US, which were both listed among the top five attack destination for each of these countries in the report.

And within these four European countries, Ireland and Austria also made it in the top five attack destinations list.

"A lot of high-profile companies with a global footprint are based in Ireland," explains Pandey.

And as one would expect, among the top five destination targets were each of the countries' own home soil, with the exception of Italy. When it comes to cybercrime originating from Italy, that country did not make it among Italy's top five destination targets.

Cybercrime Growth vs. Transaction Growth

The research report also found that a total of 130 million cybercrime-related fraud attacks were detected in the first quarter, which was approximately 23% higher than the more than 100 million attacks detected and stopped by ThreatMetrix during the first quarter last year.

But when comparing this year's first quarter growth of this type of fraud - which includes account-creation fraud using pilfered identities to create new bogus accounts to payments fraud with stolen payment credentials via man-in-the-middle attacks and through malware - fraud attacks were 50% higher given the growth rate in the number of transactions during the same year-over-year period.

Faulkner says it's not surprising that the growth rate in fraud attacks is moving at a pace faster than the growth rate in transactions, such as mobile payments to online payments, but he noted that in some quarters that growth gap increases and decreases.

Regardless, Faulkner says, "this is something that is not going away."

Related Content:

Dawn Kawamoto is an Associate Editor for Dark Reading, where she covers cybersecurity news and trends. She is an award-winning journalist who has written and edited technology, management, leadership, career, finance, and innovation stories for such publications as CNET's ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Why Cyber-Risk Is a C-Suite Issue
Marc Wilczek, Digital Strategist & CIO Advisor,  11/12/2019
The Cold Truth about Cyber Insurance
Chris Kennedy, CISO & VP Customer Success, AttackIQ,  11/7/2019
Black Hat Q&A: Hacking a '90s Sports Car
Black Hat Staff, ,  11/7/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
7 Threats & Disruptive Forces Changing the Face of Cybersecurity
This Dark Reading Tech Digest gives an in-depth look at the biggest emerging threats and disruptive forces that are changing the face of cybersecurity today.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-5230
PUBLISHED: 2019-11-13
P20 Pro, P20, Mate RS smartphones with versions earlier than Charlotte-AL00A 9.1.0.321(C00E320R1P1T8), versions earlier than Emily-AL00A 9.1.0.321(C00E320R1P1T8), versions earlier than NEO-AL00D NEO-AL00 9.1.0.321(C786E320R1P1T8) have an improper validation vulnerability. The system does not perform...
CVE-2019-5231
PUBLISHED: 2019-11-13
P30 smartphones with versions earlier than ELLE-AL00B 9.1.0.186(C00E180R2P1) have an improper authorization vulnerability. The software incorrectly performs an authorization check when a user attempts to perform certain action. Successful exploit could allow the attacker to update a crafted package.
CVE-2019-5233
PUBLISHED: 2019-11-13
Huawei smartphones with versions earlier than Taurus-AL00B 10.0.0.41(SP2C00E41R3P2) have an improper authentication vulnerability. Successful exploitation may cause the attacker to access specific components.
CVE-2019-5246
PUBLISHED: 2019-11-13
Smartphones with software of ELLE-AL00B 9.1.0.109(C00E106R1P21), 9.1.0.113(C00E110R1P21), 9.1.0.125(C00E120R1P21), 9.1.0.135(C00E130R1P21), 9.1.0.153(C00E150R1P21), 9.1.0.155(C00E150R1P21), 9.1.0.162(C00E160R2P1) have an insufficient verification vulnerability. The system does not verify certain par...
CVE-2010-4177
PUBLISHED: 2019-11-12
mysql-gui-tools (mysql-query-browser and mysql-admin) before 5.0r14+openSUSE-2.3 exposes the password of a user connected to the MySQL server in clear text form via the list of running processes.