Fraudsters target account takeovers during the pandemic

Attempted account takeovers grew by 282 percent over the last year, while ATO rates for physical eCommerce businesses -- those that sell physical goods online -- have jumped 378 percent since the start of the COVID-19 pandemic. The Q3 2020 Digital Trust and Safety Index released today by Sift finds that between Q2 2019 and Q2 2020, ATO attacks happened in discrete waves about a week apart, indicating that fraudsters are turning to bots and automation in order to overwhelm security. Attacks are carried out using credentials either illicitly purchased on the dark web or obtained through techniques like credential… [Continue Reading]