Mobile web browsers account for the single largest amount of fraud losses.
Data and analytics firm LexisNexis Risk Solutions said mobile web browsers account for the single largest amount of fraud losses, followed by branded and third-party mobile apps. A botnet is a number of Internet-connected devices, each of which runs one or more bots, or software running automated tasks.
The cost of fraud for surveyed industries in Malaysia, namely retail, e-commerce and financial services, is 3.57 times the lost transaction value.
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