The rate of mobile fraud is highest on Android devices, according to new data from fraud specialists Kount, with mobile fraud also outpacing that of online and in-store fraud for the first time this year.
Android accounts for most mobile fraud
The company analysed over 100 million transactions across various devices from its customer base of thousands of merchants across all retail categories from 2011 to June of 2015. The data also shows that average transaction amounts on iOS mobile devices are greater than those made from Android devices.
While the rates of fraud on Android devices has not always exceeded that of iOS devices, this trend shifted in 2013, when Android overtook iOS. In fact, fraud rates on iOS devices have steadily decreased since Kount began tracing the data in 2011. On Android devices, fraud rates increased between 2011 and 2013, and has held steady since 2014.
In 2011, fraud on iOS devices was greater than Android devices by 45%. In 2012, the gap closed to 9%. In 2013, the fraud rate on Android devices was higher than on iOS by 17%, which grew to 44% in 2014 and it remains at 44% for the first six months in 2015.
“With consumers increasingly transacting on mobile and the adoption of EMV technology in the United States, we expect to see mobile fraud rates continue to increase versus online and in-store purchases,” said Don Bush, vice president of marketing at Kount. “Merchants may be implementing increased fraud protection measures for online and in-store transactions, but they’re still playing catch up when it comes to mobile fraud protection. It’s imperative that retailers – and everyone in the retail and financial sectors – understand the myriad risks with mobile transactions and take the necessary steps to put mobile-specific fraud protection in place.”
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