How Organized Cybercriminals Built the Bot Economy to Target Merchants
Bots have captured headlines a lot recently, but what’s not being talked about is the bot economy that supports sophisticated organized criminal activity which allows anyone to buy bots and use them online to do just about anything. This enables bad actor groups to function like legitimate businesses and fund other criminal schemes. What does this have to do with payment fraud? Because of this growing economy, HUMAN Security has observed a 98% increase in bot activity used to break into username-protected accounts (also known as account takeover) compared to the six months prior. While bots are a thriving, growing industry filled with good use cases, like chatbots, nefarious ones are increasing in popularity amongst bad actor groups to conduct schemes like credential stuffing attacks impacting financial transactions across the internet.
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