Image courtesy of The Fintech Times
Fintech companies experienced 2.5 times more online attacks in Q1 2022 than the two-year prior average, with 75% of those attacks being account takeover attempts and 96% driven by bots, according to Arkose Labs' Q2 2022 State of Fraud and Account Security report. Bot-oriented attacks in early 2022 ran 'consistently higher' than the 2021 average, fueled by large-scale credential stuffing and scraping campaigns. Arkose Labs warns that the fintech sector's rapid growth and concentration of financial credentials makes it an increasingly high-value target for organized cybercriminals.
