European Fraud Increases 60 Percent

The rate of fraudulent online transactions originating in Europe jumped from 1.3 percent from January to March 2011 to 2.1 percent from January to March 2012, and the rate showed upward movement every quarter in between.

Iovation announced that the rate of fraudulent online transactions that it has stopped in Europe is 60 percent greater now than it was a year ago, having halted about 15 million fraudulent transactions from April 2011 to April 2012.

The top three European counties for online fraud over that period were Romania, Lithuania and Croatia. So if a lost prince from one of those countries asks you for money, just say no.

For more Global News & Analysis, check out the July edition of Security magazine — available now online.

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