Online fraud a business with infinite growth: everything in the hands of bots

Le online fraud is on the rise, and will be even more so in the foreseeable future. According to a study by Arkose Labs , a increase of 60% of this type of stock, and no digital company seems to be immune to it. The picture drawn by the San Francisco company is decidedly not very comforting: overall, during the last quarter the attacks have increased by 15% compared to Q2 2021 (please note, by way of example, what concerned Apple Pay and Visa), and what worries most is the increasing use of bots for the automated management of actions. In fact, entrusting attacks to bots means being able to operate on several fronts at the same time.

A LITTLE COMFORTABLE SITUATION

Arkose data Labs

  • half of the attacks detected in the past quarter were from China. Asia is considered the continent from which most of the frauds originate: among the most active countries, Vietnam and Indonesia are also mentioned. A good part of the attacks also originated in the United States, India and Russia. The latter is the main source of actions aimed at Europe.
  • attacks managed by bots are on the rise : in the third quarter they represented the ‘88% of the total episodes (there were 2 million between October and December 2020)
  • are also growing attacks with false accounts and theft of credentials :
    • credential theft : Arkose Labs blocked more than 140 millions of such attacks. The risk increases during the holidays as users tend to create new accounts – perhaps for online shopping. With bots it is possible to quickly test millions of combinations and identify the credentials that provide access to accounts (and this is even more dangerous when there is a tendency to repeat the same password for multiple sites)
      • 5% of digital traffic on the web consists of credential theft attacks
      • the 17% of attacks are credential theft (Q3 2021)
      • credential theft increased by 56% during holidays 2020
      • attacks of this type doubled in 2020 compared to 2019: 3 billion cases
    • false acc ount : 560 million cases in Q3 2021. They are exploited for a variety of purposes, including phishing attacks
  • the travel sector is increasingly affected after the stop imposed by the pandemic. In the second half of the year they doubled compared to the January-June period 2021, + 53% in Q3. Most of the attacks come from the US.
    • retail and travel: + 63% in Q3
    • finance: + 32% compared to the first half of 2021
    • media and streaming : 60% of attacks targeting the login process
    • technology: 91% of the attacks are automated
    • gaming: most attacks are focused on the registration phase
  • for the period of the Christmas holidays it is estimated about 8 million attacks per day, + 50% overall and generally directed towards the theft of credentials

Credits opening image: Pixabay


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