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Concerns raised over holiday cybercrime attacks. Concerns raised over holiday cybercrime attacks. (Source: 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 on the hook for any incidents.

Fraud increased 30 percent overall in the third quarter 2019 and bot-driven account registration fraud is up 70 percent 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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