Because many merchants misunderstand ATO attacks, they fail to protect their customers' data and risk alienating their most loyal shoppers.
More than the damage to a merchant’s bottom-line, account takeover attacks can have a devastating impact on the relationship between brands and their most loyal customers. By simply obtaining a set of login credentials, fraudsters can gain a lot more—and cause a great deal of harm. That is why ATOs are on the rise. In fact, our data show that ATO attacks are roughly doubling year-over-year.
In the newest episode of The Full Cart, the podcast about the eCommerce landscape, we talk to Riskified Product Marketing Manager Ephraim Rinsky. An expert on ATOs, Ephy shares lesser-known information about ATO attacks, including fraudsters’ favorite credential phishing MOs and the role the dark web plays in helping fraudsters commit—and get away with—these elaborate attacks.
Ephy has explored data on hundreds of thousands of ATOs to try to understand every aspect of this issue. “By misunderstanding the problem, many merchants think they are protecting their customers’ data against breaches, even though they are not,” he said.
Tune in for insights on:
- Why more fraudsters are targeting login credentials and consumer information
- How online consumers react to data breaches
- Why bot detection technologies and most fraud prevention solutions are insufficient to fend off ATOs
If you missed our last episode, The Human in the Machine, you can listen to it here.