How Human-like Bots perform online fraud
2019 saw login pages as prime targets for fraudsters across different verticals. They are using bad bots to carry out two types of online fraud: (1) account takeover to steal PII and payment card details (2) fake account creation to validate stolen payment card details (carding attacks) or cash out stolen cards.
For online businesses and their customers, the growing threat of online fraud is a real concern. With stringent regulations on data and privacy such as GDPR and CCPA, online fraud is not just a business issue, but a legal challenge as well. For many organizations, a data breach means ceasing to exist due to massive fines under new data security regulations.