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Concerns raised over holiday cybercrime attacks. Concerns raised over holiday cybercrime attacks. (Photo: Shutterstock)

Two cybersecurity reports paint a dreadful end-of-the-year picture: one forecasts major data breaches fueling a holiday retail cybercrime spree; the other suggests financial institutions will be on the hook for any incidents.

Fraud increased 30% overall in the third quarter 2019 and bot-driven account registration fraud is up 70% as cybercriminals test stolen credentials in advance of the holiday retail season, according to “The Q4 Fraud and Abuse” by San Francisco-based Arkose Labs, which provides a platform combining telemetry with an adaptive step-up challenge to identify bad actors. The study provided insights into the cybercrime ecosystem and how criminals are preparing for large-scale digital commerce attacks in this year’s last quarter.

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