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
How Attackers Infiltrate the Supply Chain & What to Do About It
Shay Nahari, Head of Red-Team Services at CyberArk,  7/16/2019
US Mayors Commit to Just Saying No to Ransomware
Robert Lemos, Contributing Writer,  7/16/2019
The Problem with Proprietary Testing: NSS Labs vs. CrowdStrike
Brian Monkman, Executive Director at NetSecOPEN,  7/19/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Building and Managing an IT Security Operations Program
As cyber threats grow, many organizations are building security operations centers (SOCs) to improve their defenses. In this Tech Digest you will learn tips on how to get the most out of a SOC in your organization - and what to do if you can't afford to build one.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-12551
PUBLISHED: 2019-07-22
In SweetScape 010 Editor 9.0.1, improper validation of arguments in the internal implementation of the Memcpy function (provided by the scripting engine) allows an attacker to overwrite arbitrary memory, which could lead to code execution.
CVE-2019-12552
PUBLISHED: 2019-07-22
In SweetScape 010 Editor 9.0.1, an integer overflow during the initialization of variables could allow an attacker to cause a denial of service.
CVE-2019-3414
PUBLISHED: 2019-07-22
All versions up to V1.19.20.02 of ZTE OTCP product are impacted by XSS vulnerability. Due to XSS, when an attacker invokes the security management to obtain the resources of the specified operation code owned by a user, the malicious script code could be transmitted in the parameter. If the front en...
CVE-2019-10102
PUBLISHED: 2019-07-22
tcpdump.org tcpdump 4.9.2 is affected by: CWE-126: Buffer Over-read. The impact is: May expose Saved Frame Pointer, Return Address etc. on stack. The component is: line 234: "ND_PRINT((ndo, "%s", buf));", in function named "print_prefix", in "print-hncp.c". Th...
CVE-2019-10102
PUBLISHED: 2019-07-22
aubio 0.4.8 and earlier is affected by: null pointer. The impact is: crash. The component is: filterbank. The attack vector is: pass invalid arguments to new_aubio_filterbank. The fixed version is: after commit eda95c9c22b4f0b466ae94c4708765eaae6e709e.