M-commerce Fraud
Mobile e-commerce is still a nascent space, but growing fast: More than 200 million devices worldwide are now making regular purchases through mobile browsers and mobile applications. That offers a vast new playground for fraudsters, who will look to take advantage of immature security approaches in the space.
According to a mobile commerce study by J. Gold & Associates, a full one-third of the organizations surveyed indicated they generate revenues from the internet in the 26 to 50% range. And a full quarter (25%) of those surveyed said that 11 to 25% of that revenue came from a mobile app. Half of them (50%) expect mobile revenues to grow between 11% and 50% in the next three years, and an additional third expect it to grow even more dramatically (51% to 100% higher) over the same time.