Financial services firms suffer over three billion credential stuffing attacks in 2020

New research from Akamai Technologies reveals that financial services firms suffered 3.4 billion credential stuffing attacks in 2020, a 45 percent year-on-year increase. The report also observed nearly 6.3 billion web application attacks in 2020, with more than 736 million targeting financial services -- an increase of 62 percent from 2019. Over the past three years (2018-2020), DDoS attacks against the financial services sector grew by 93 percent. 'The ongoing, significant growth in credential stuffing attacks has a direct relationship to the state of phishing in the financial services industry,' says Steve Ragan, Akamai security researcher and author of the… [Continue Reading]