Video

2019 Fraud and Authentication Trends

Julie Conroy, research director at Aite Group, discusses a recent rise in account takeover fraud and credential stuffing attacks.

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2019 Fraud & Authentication Trends 

Video Transcript

As we look at the fraud and authentication space in 2019, we're seeing that organized crime rings are ramping up their attacks on businesses. They're leveraging the 14.7 billion data records that we've seen breached since 2013. It's not just one breach, we're also seeing them re-purpose old breaches.

At the start of this year, we saw the Collections files posted on the dark web, which was more than two billion username and credential pairs with the passwords. Most of them were hashed when they were compromised, but all of the hashes were cracked, so it was just a whole bunch of username and passwords in the clear.

As a result, as I talk to banks, we're seeing a lot of concern over credential stuffing attacks, which is using automated tools to test those username and password pairs against as many sites as possible to see where they work.

 

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