Bots Credential Phishing 
Fintech News
SEPTEMBER 22, 2024
In 2023, the financial services industry continued to sustain the most automated bot attacks, with 1.8 the number of bot attacks in the sector decreased by 6% YoY. Payment fraud, in which stolen payment credentials are used to make illegal transactions, rose by 9% YoY, signaling heightened financial risks for banks.
PYMNTS
MARCH 26, 2020
Many cybercriminals rely on bots to conduct their schemes, leveraging automated data skimming programs that can overwhelm banks’ defenses through sheer volume. We like to think of [bots] like bacteria,” Raghu Valipireddy, senior vice president and chief information security officer at Axos Bank, told PYMNTS in a recent interview.
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PYMNTS
JUNE 29, 2020
The most popular technique, credential abuse, involves fraudsters using compromised passwords and other login information to gain access to sensitive systems. There were 85.42 billion such attacks between December 2017 and November 2019, 16.55 billion of which targeted APIs, and of these attacks, 463.3
PYMNTS
JANUARY 28, 2020
If they’re not grabbing stolen credentials off the Dark Web then they’re neck-deep in buyer-seller collusion, or the long con of keeping fake accounts in good standing … just enough to drain them and abscond. Combatting aggressive online fraudsters calls for asymmetrical strategies that confound mal-bots with superhuman processing power.
PYMNTS
AUGUST 8, 2018
Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. ProofPoint’s report does not underestimate the strength of ransomware attacks via phishing. Another phishing strategy, known as angler phishing, also showed its teeth in Q2.
PYMNTS
JUNE 12, 2019
Compromised credentials are one of the most common causes of security breaches. Google says iPhone and iPad users can now verify sign-ins with their Android security key, according to a report by TechCrunch. Since the introduction of 2SV, Google said, 100,00 users are using their Android devices as a security key.
PYMNTS
DECEMBER 19, 2019
In the third quarter of 2019 alone, mass “bot” attacks on FIs and card accounts rose by 70 percent year on year, indicating that fraud is getting, well, faster. The stakes are high, and tech is the weapon of choice in fraudsters’ ploys to gain access to sensitive data and drain accounts as they seek to exploit consumers’ trust in their CUs.
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