Businesses losing revenue to bot-driven account fraud

Revenue loss from bot-driven account fraud and web scraping continues to increase according to a new report, with 69 percent of companies that have a bot management solution report losing more than six percent of their revenue due to account fraud this year. Account fraud includes account takeovers and new account fraud, where fraudsters create fake accounts to gain access to loyalty programs and take advantage of promotional discounts. The report from automated threat protection specialist Kasada also shows that 40 percent of companies lost 10 percent of revenue or more, a major increase from 2021 when only five percent… [Continue Reading]