Image courtesy of SC Magazine
Arkose Labs CEO Kevin Gosschalk tells SC Magazine that the master fraudsters who have long targeted gaming companies are now turning their attention to financial institutions, bringing with them the same scripted, multi-tool attack strategies and fraud farm capabilities. Gosschalk notes that while banks primarily deal with account takeover and application fraud, the metaverse is driving a 30% growth in synthetic account attacks — fake identities that are extremely difficult to detect because they mimic genuine consumers. He urges financial firms to adapt their fraud prevention strategies now so they are ready to defend virtual-world banking channels as they scale.
