Fraudsters Turn to Bot Attacks on Massive Scale

As seen in recent years, cybercrime is a very real threat to businesses of all sizes and industries – and that threat only continues to grow. Now, businesses have to lookout for yet another threat from fraudsters. Cybercriminals are increasingly turning to bot attacks to test stolen identities and payment cards. Antifraud technology provider, ThreatMetrix, detected that in the fourth quarter of 2017 close to 840 million bot attacks were directed at merchants on their network.

In their report, ThreatMetrix revealed that “Cybercriminals are using bots on a mass scale to test and spoof identity credentials, often as part of a global, cross-border attack.”

“Bot attacks continue to evolve from their basic velocity-based functions, to complex bots that are used in more advanced ways to spoof IP addresses, emulate browsers or spoof apps, to masquerading bots, that are attempting to mask their true context and pretend to be legitimate user … Read More