News Insights: bot attacks focused on new account creations are on the rise

According to a new report from LexisNexis, based on data gleaned from 277 million human-initiated attacks across its Digital Identity Network, bot attacks focused on new account creations are on the rise, bent on building fake online identities across diverse sectors. This type of attack is the only criminal “use case” that saw growth in the Jan-June 2019 study period.

https://threatpost.com/data-breaches-account-creation-fraud-soars-2019/148181/

 

According to Matt Keil, Director of Product Marketing at Cequence Security:

 

“The data validates what we have seen and continue to see in our customer environments and is not surprising. Automation tools, proxy networks and the vast array of user credentials makes these types of attacks easier to execute. Customers that have rich, account-based applications where the assets behind the account login hold some value are prime targets for automated attacks. The perceived value of the asset will vary, but the modified adage of how one person’s low value asset is another person’s treasure applies here.

 

Fake likes, disinformation, and fake reviews are more impactful when they appear to come from “real” accounts – and there is an economy built around these attacks. Romance scams originate from the creation of fake accounts on dating applications – resulting in broken hearts and bank accounts. And while a retailer is more likely to have a repeat customer when they are enrolled in the loyalty program, the programs are targets for both fake account creation and account take over attacks.”