Credential abuse attacks and identity theft incidents are rising, with attackers leveraging botnets to launch coordinated campaigns with high success rates, says Aseem Ahmed of Akamai Technologies, who shares best practices for mitigating the threats.
More than 30 billion malicious login attempts were carried out globally between November 2017 and June 2018, according to research conducted by Akamai, Ahmed says in an interview with Information Security Media Group.
“The financial services industry is under constant attack from automated account takeover tools. … E-commerce, travel and hospitality verticals are also very often targeted,” he says.
It’s difficult to determine the exact cost to the business from credential abuse attacks. Among the factors that must be considered, Ahmed says, are money lost, the cost of prevention and remediation, and customer abandonment rates after a credential abuse incident.