Mobile Fraud Costs Advertisers $1 Billion, Report Says

As mobile devices proliferate, app advertising has become a huge business, worth an estimated $20 billion in the U.S. alone. But how much of that is being wasted? According to a new report from fraud-detection firm Forensiq, as much as $1 billion of that advertising money is being lost to fraud in a number of ways -- including malicious apps that hijack mobile phones and turn them into an ad-viewing botnet.