Expert Reaction On Researchers Find Fraud Increasing

We are entering another week of the social distancing effort to fight the coronavirus. We’ve seen increased attacks across many verticals, as outlined in our blog series COVID-19: Data Tells the Story. We are seeing that along with the expected surge in web traffic to e-commerce sites, there is a marked increase in automated fraud, contributing to account takeover (ATO) attacks. For example, in the home goods category, we are seeing that almost 90% of login traffic consists of ATO attacks. As consumers shift away from in-store interactions to home delivery, and as payments move online, the fraudsters are following the money. We differentiate between two types of fraud, human and automated. Automated fraud, such as bot-driven ATO which is on the rise, is sometimes more difficult to prevent because it requires real-time decision making and some fraud solutions take seconds instead of the milliseconds required. Businesses need to take both types of fraud into account in order to protect their customers’ account data and preserve their brand reputation.  Read Less