Case Study: Financial Industry Automated Fraud

Attackers use botnets, automated credential stuffing, and web proxies to defeat security measures.

Financial Industry Case Study

Overview

How Shape Defeated Account Hijackers and Saved Tens of Millions of Dollars

Financial institutions are prime targets for cybercriminals intent on taking over accounts for monetary gain. Large-scale automated attacks on financial institutions can rapidly test out millions of stolen credentials, and with even a 1 - 2% success rate, cyber fraud losses easily reach millions of dollars.

Increasing use of financial aggregator apps, and unauthorized content scraping of account balances and transaction history is creating compliance headaches for financial institutions. Looking to lower risk, financial institutions are seeking avenues to block unauthorized content scraping and direct legitimate traffic to approved APIs.

Key Points

 

 
4 minute preview

Avivah Litan:

VP Distinguished Analyst, Gartner

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