Arkose Labs’ recent survey of over 100 US IT executives across industries found that account takeover (ATO) attacks drive negative brand reputation for 100% of digital retailers.
With ATO attacks impacting user experience and brand awareness, these attacks have costed 90% of companies less than $500,000 in 2020, according to the report. ATO attacks collect personal information from accounts and then distribute and sell it on the Dark Web.
Over 70% companies report account integrity to be a top concern. 67% IT professionals from the service industry consider ATOs as a top issue, followed by the healthcare industry (44%), which places it among top three issues.
ATOs have further affected end user experience for 94% of the financial institutions, via negative brand reputation and compliance concerns. Compromised identity credentials (40%), fraudulent transaction (32%), and stolen payment details (14%) are the most significant ATO concerns.
[3 minute read]