A Report Reveals How Cybercriminals are increasingly Using Bots to Attack Merchants

Cybersecurity remains a matter of concern in e-commerce, especially where thousands of dollars and the future of a company are on the line. But every year, fraudsters keep making it a challenge for the retailer.  And last year we had reports of tricksters increasingly using bots to attack faintly protected but high revenue businesses.

These bots are particularly useful because they ease the trickster’s work – they help test for stolen Credit cards and identities. And in 2017’s last quarter alone, ThreatMetrix, a top anti-fraud tech company reported that their systems detected a whole 840 million breach attempts by bots targeting retailers on its network. The number is shockingly huge but probably not as incredible as the fact that it equals the number (of similar attacks) the firm noticed in the entire 2016.

Bots attacks are the scammers’ favorite approach, the company reported, saying that sometimes, for some retailers, these attacks account for an entire 90% of a Website’s traffic. In ThreatMetrix’s Q4 2017 Report on cybercrime, the security firm discovered that charities are the most vulnerable to bot attacks. The industry experiences multiple $1 to $5 contributions/donations, most of which are cybercriminals trying to test if the credentials they’ve stolen are valid.

In the report, the antifraud experts explained that fraudsters are currently using bots more and more to test and identity credentials, allegedly as part of an international cross-border breach. The security provider fears how fast bot attacks have continued changing. Bot breaches have evolved from their traditional velocity-based functions to now multifaceted tech that attackers can use in more technical ways to make takeoff IP addresses, imitate web browsers, mimic apps, to masquerading bots and pose as real user traffic.

Conclusion

Gone are days when bot breaches lasted a day or two but did you less harm, nowadays they are designed to more frequent but short visits, last in your systems and gather more data. So to protect your new instant merchant account with no credit check from such breaches, ensure you partner with a dependable security firm.

Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who also enjoys writing, playing guitar and camping. Bestpaymentproviders is one of the best merchant account review  provider, serving both traditional and high-risk merchants.