I agree Account Takeover Attacks Are an Enormous Vulnerability for Which Many Merchants Are Unprepared
NEW YORK--(BUSINESS WIRE)--Riskified, the payments and fraud-prevention solutions provider, today released a survey on the effect of Account Takeover (ATO) attacks on eCommerce merchants and customers. ATOs happen when a bad actor gains access to a legitimate customer’s eCommerce store account and uses that account for fraud. The survey shows that ATO attacks have a huge negative impact on customers and merchants, damaging brand reputation and hurting merchants’ bottom lines. Despite that, many merchants lack security measures, and more than one in three (35%) of merchants report that at least 10% of their accounts have been taken over in the last 12 months.