Image courtesy of Digital Transactions
Arkose Labs forecast 8 million fraud attacks per day during the 2021 holiday shopping season, driven by a 15% quarter-over-quarter increase in overall fraud attacks and a nearly fourfold rise in fake account registrations from Q1 to Q3 2021. Bot attacks — making up 88% of all attacks in Q3 — were projected to hold steady or accelerate through year-end, while fake account creation using stolen or synthetic identities had become the leading fraud vector for the period. The company also noted that more than 2 million bot attacks occurred in the October-December 2020 holiday window, setting a troubling baseline for what retailers and payment processors would face heading into 2021's peak season.
