Akamai Credential Stuffing Report Shows Financial Services Industry Under Constant Attack From Automated Account Takeover Tools
21/09/2018
Cambridge, MA | September 19, 2018
According to the Akamai 2018 State of the Internet / Security Credential Stuffing Attacks report, worldwide malicious login attempts are on the rise. Findings from the report show that Akamai detected approximately 3.2 billion malicious logins per month from January through April 2018, and over 8.3 billion malicious login attempts from bots in May and June 2018 - a monthly average increase of 30 percent. In total, from the beginning of November 2017 through the end of June 2018, Akamai researcher analysis shows more than 30 billion malicious login attempts during the eight-month period.
Malicious login attempts result from credential stuffing, where hackers systematically use botnets to try stolen login information across the web. They target login pages for banks and retailers on the premise that many customers use the same login credentials for multiple services and accounts. Credential stuffing can cost organizations millions to tens of millions of dollars in fraud losses annually, according to the Ponemon Institute's The Cost of Credential Stuffing report.
Akamai security and threat research plus behavioral detections power the company's bot management technology, and Akamai's Vice President of Web Security, Josh Shaul, shared an example of combating credential abuse on behalf of a customer. One of the world's largest financial services companies was experiencing over 8,000 account takeovers per month, which led to more than $100,000 per day in direct fraud-related losses, said Shaul. The company turned to Akamai to put behavioral-based bot detections in front of every consumer login endpoint and immediately saw a drastic reduction in account takeovers to just one to three per month and fraud-related losses down to only $1,000 to $2,000 per day.
In addition, the State of the Internet report details two instances where Akamai combatted credential stuffing attempts for clients, demonstrating the severity of the method.
In the first case, the report recounts the issues faced by a Fortune 500 financial services institution where attackers used a botnet to conduct 8.5 million malicious login attempts within 48 hours against a site that typically only sees seven million login attempts in a week. More than 20,000 devices were involved in this botnet, which was capable of sending hundreds of requests a minute. Akamai research identified that nearly one-third of the traffic in this particular attack was generated from Vietnam and the United States.
The second real-world example from the report illustrates a low and slow type of attack identified at a credit union earlier this year. This financial institution saw a large spike in malicious login attempts, which ultimately revealed a trio of botnets targeting its site. While a particularly noisy botnet caught their attention, the discovery of a botnet that had been very slowly and methodically trying to break in created a much bigger concern.
Our research shows that the people carrying out credential stuffing attacks are continuously evolving their arsenal. They vary their methodologies, from noisier, volume-based attacks, through stealth-like low and slow'-style attacks, said Martin McKeay, Senior Security Advocate at Akamai and Lead Author of the State of the Internet / Security report. It's especially alarming when we see multiple attacks simultaneously affecting a single target. Without specific expertise and tools needed to defend against these blended, multi-headed campaigns, organizations can easily miss some of the most dangerous credential attacks.
A complimentary copy of the 2018 State of the Internet / Security Credential Stuffing Attacks report is available for download here. For additional information about the rise of credential stuffing challenges and ways to protect your organization against them, visit here.
Methodology The Akamai 2018 State of the Internet / Security Credential Stuffing Attacks combines attack data from across Akamai's global infrastructure and represents the research of a diverse set of teams throughout the company. The report provides analysis of the current cloud security and threat landscape, as well as insight into attack trends using data gathered from the Akamai Intelligent Platform. The contributors to the State of the Internet / Security Report include security professionals from across Akamai, including the Security Intelligence Response Team (SIRT), the Threat Research Unit, Information Security, and the Custom Analytics group.
About Akamai As the world's largest and most trusted cloud delivery platform, Akamai makes it easier for its customers to provide the best and most secure digital experiences on any device, anytime, anywhere. Akamai's massively distributed platform is unparalleled in scale with over 200,000 servers across 130 countries, giving customers superior performance and threat protection. Akamai's portfolio of web and mobile performance, cloud security, enterprise access, and video delivery solutions are supported by exceptional customer service and 24/7 monitoring. To learn why the top financial institutions, e-commerce leaders, media & entertainment providers, and government organizations trust Akamai please visit www.akamai.com, blogs.akamai.com, or @Akamai on Twitter.
LINK: | https://www.akamai.com/uk/en/about/news/press/2018-press/akamai-creden... |
See more stories from akami |
Europe Stories
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with URSA Broadcast G2
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
25/04/2024
Opinion: charting a cloud driven future
M2A Medias Matt Hughes asks, is it time for news broadcasting to shift to the cloud? By Contributor Published: April 25, 2024 M2A Media's Matt Hughes ...
25/04/2024
Czech mates
The writer and director of a hit Czech series tell Robert Shepherd about their approach to portraying real-life Pakistani kidnappings on the small screen, while...
25/04/2024
Molinaire Creative Group opens new Liverpool facility
Notorious DIT will work with the Liverpool Film Office to increase opportunities for regional talent By Matthew Corrigan Published: April 25, 2024 Notorio...
25/04/2024
Unlock the potential of automated node-based and no-code media workflows at MPTS 2024
Published On: April 25th, 2024 data-orig-src=https://www.sgo.es/wp-content/upl...
25/04/2024
Explore the Future of VR 180 Storytelling with Dolce Mia and Mistika VR
Published On: April 25th, 2024 data-orig-src=https://www.sgo.es/wp-content/uploads/Dolce-Mia-Header-image.png width=1040 height=533 class=lazyload wp-image-0 ...
25/04/2024
IBM Transforms the Storage Ownership Experience with IBM Storage Assurance
LONDON, UK, April 25, 2024 IBM (NYSE: IBM) today announced new storage capabilities that give clients choice and control in the data center to maximise perfor...
25/04/2024
Socio-ecological impact through reuse of IT hardware
Social and Ecological Impact through Reuse of IT Hardware Social & green IT: Arvato Systems and AfB Securing three jobs for people with disabilities Savings...
25/04/2024
AMATEUR DRAMA TAKES CENTRE STAGE AS RT ALL IRELAND DRAMA FESTIVAL LAUNCHES IN THE ABBEY THEATRE
Amateur drama took centre stage as the All Ireland Drama Festival was officially...
25/04/2024
AI-assisted optronics: an unprecedented European project to increase combat perception capabilities
Facebook Twitter LinkedIn The European Commission signed the Grant Agreeme...
24/04/2024
UKTV's pay TV channel Alibi joins forces with S4C and All3Media International for new legal crime drama series Mudtown
Cast set to star include Erin Richards and Tom Cullen Wednesday 24 April 2024 ...
24/04/2024
K-Hip-Hop's Biggest Names Take Center Stage on KrOWN X HAN 2024'
This month marked the return of Spotify's HAN, our collaborative program that brings the unique sounds and culture of Korean hip-hop to the world through ex...
24/04/2024
RADAR Italy Returns With 6 Artists Transforming the Country's Music Landscape
As Spotify's program to spotlight rising talent from around the world, RADAR...
24/04/2024
Spotify Partners With Les Flammes Music Awards To Celebrate French Rap
Spotify is once again teaming up with Les Flammes, the only music awards dedicated to rap, R&B, Afrobeats, and popular culture in France. Spotify helped create...
24/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT' Becomes Spotify's Most-Streamed Album in One Week
Records smashed. History made. It's been just five days since Taylor Swift u...
24/04/2024
Authentic Perspectives
The first feature film from writer-director Shaun Seneviratne, Ben and Suzanne: A Reunion in 4 Parts depicts the struggle between love and duty as Ben (Sathya S...
24/04/2024
Melanie Georgieva Joins Panalux as Long Form Sales Director
LONDON, England (24 April 2024) Panalux, a leading rental provider of lighting and power solutions for the motion-picture industry and part of Panavision'...
24/04/2024
Deutsche Telekom Powers New MagentaTV Service With Broadpeak's Cloud DVR Solution
April 24, 2024 -- Deutsche Telekom Powers New MagentaTV Service With Broadpea...
24/04/2024
VEON Announces 2024 AGM and Board Nominees
24 Apr 2024 VEON Announces 2024 AGM and Board Nominees Amsterdam, 24 April 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator...
24/04/2024
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automotive radar test solution
Rohde & Schwarz and IPG Automotive unveil a complete Hardware-in-the-Loop automo...
24/04/2024
Nurturing a new look for Huntapac
Posted on 24 Apr 2024 Creating a contemporary brand update that reflects a company's strong heritage can often pose a challenge, yet its a task ICG embrace...
24/04/2024
2024-04-24
Beginning in May, a special Today at Apple series titled Made for Business will offer small business owners and entrepreneurs free opportunities to learn how ...
24/04/2024
Print beats other media channels to deliver largest ROI
% of profit volume % of advertising investment % of full payback % of sustained parback % of short-term payback % of immediate payback Full payback ROI S...
23/04/2024
Tackling lies online: the answer may be all in the mind
Psychology can play an important role in helping us understand what audiences respond to (Dr Jon Roozenbeek, Cambridge Social Decision-Making Lab) For newsroom...
23/04/2024
Spotify Reports First Quarter 2024 Earnings
Today, we announced our first quarter 2024 earnings. In a solid start to the year, Spotify reported Monthly Active Users grew 19% Y/Y to 615 million. Subscri...
23/04/2024
Spotify rapporterar intkter fr frsta kvartalet i 2024
Idag publicerar Spotify sina finansiella resultat f r f rsta kvartalet 2024. ret har inletts stabilt: M natliga aktiva anv ndare kade med 19 % j mf rt med f...
23/04/2024
Discover Your K-Pop Persona With Spotify's New Interactive Experience
In the last decade, as K-Pop cemented its status as a global phenomenon, Spotify has helped fans around the world keep their fingers on the pulse at every step ...
23/04/2024
Creative UK launches manifesto calling for more investment in creative R&D; revised approach to trade and exports
Entitled Our Creative Future, the manifesto calls for radical new action' t...
23/04/2024
Audiotonix secures landmark' investment
The company has secured investment from private equity firm PAI Partners, which also holds a stake in outside broadcasting company EMG By Jenny Priestley Pub...
23/04/2024
James Cameron backs Marlow Film Studios proposal
Cameron also said he recognised Marlow as a potential UK and European base for his new company, LIGHTSTORM 3D By Matthew Corrigan Published: April 23, 2024 ...
23/04/2024
IBC launches 2024 Innovation Awards with new categories
The five categories cover Content Creation, Content Distribution, Content Everywhere, Social Impact and Environment & Sustainability By Matthew Corrigan Publ...
23/04/2024
Pascal Fratellia leaves Olympics role at EBU
He played a central role in securing key broadcast rights, including the FIFA World Cup 2018 and 2022 By Matthew Corrigan Published: April 23, 2024 He pla...
23/04/2024
Discover what is new: Mistika Boutique and Ultima enhance conforming, rendering and project collaboration
Published On: April 23rd, 2024 data-orig-src=https://www.sgo.es/wp-content/upl...
23/04/2024
Rohde & Schwarz introduces new R&S SMB100B microwave signal generator for analog signal generation up to 40 GHz
Rohde & Schwarz introduces new R&S SMB100B microwave signal generator for analog...
23/04/2024
FilmLight Colour Awards welcomes 2024 entries and introduces new Emerging Talent' award
Entries open from 1 May 31 July to colourists on any grading platform The Fil...
23/04/2024
Niels Steenstrup appointed CEO of Thales InFlyt Experience
Facebook Twitter LinkedIn We thank TK for his leadership and dedication to our customers' success. We wish him well on his retirement, said Yannick ...
23/04/2024
Thales opens a new System Testing Centre for German F126 project
Facebook Twitter LinkedIn On April 23rd 2024, Thales, the German Navy and German military procurement agency, BAAINBw (Federal Office of Bundeswehr Equipm...
22/04/2024
UKTV Ventures partners with Elder, in airtime-for-equity deal
22 April 2024 - Award-winning broadcaster UKTV has today announced it has invested in the award-winning online care marketplace, Elder, using its multi-million ...
22/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT' Breaks Multiple Spotify Records in Less Than 24 Hours
It's a beautiful day to be a Swiftie. On April 19, Taylor Swift dropped her ...
22/04/2024
Adapting to Landscapes With LEE Filters
In this video, LEE Filters ambassador Jordan Banks ventures into Snowdonia National Park in Wales. Faced with less-than-ideal weather conditions, he adapts his ...
22/04/2024
Ross Video expands graphics portfolio with Bannister Lake Software acquisition
The Chameleon solution provides access to real-time data from a range of sources, enabling users to construct tickers, L-bars, snipes, web widgets and full fram...
22/04/2024
What happened in Vegas: 2024 edition
TVBEuropes editor Jenny Priestley highlights some of the main talking points at this years NAB Show By Jenny Priestley Published: April 22, 2024 TVBEurope...
22/04/2024
Rohde & Schwarz expands footprint in India by opening new state-of-the-art facility in Bengaluru
Rohde & Schwarz expands footprint in India by opening new state-of-the-art facil...
22/04/2024
Comscore at the 19th Annual Needham Technology, Media & Consumer Conference
Comscore at the 19th Annual Needham Technology, Media & Consumer Conference RESTON, Va., April 22, 2024 Comscore (Nasdaq: SCOR), a trusted partner for plannin...
22/04/2024
CODA Audio system is Crowning Glory for Brooklyn Cultural Hub
Crown Hill Theatre in Brooklyn, New York, officially opened its doors with a red-carpet event in early December 2023. The brainchild of entrepreneur and musicia...
22/04/2024
Cian Cobhin's An Taobh Tuathail marks 25 years on air
An Taobh Tuathail (ATT), RT Raidi na Gaeltachta's flagship alternative radio, presented by Cian C obh in show turns 25 in May 2024. The acclaimed music ...
20/04/2024
Taylor Swift's THE TORTURED POETS DEPARTMENT Breaks Multiple Spotify Records in Less Than 24 Hours
It's a beautiful day to be a Swiftie. On April 19, Taylor Swift dropped her ...
19/04/2024
Thank You for visiting us at NAB 2024!
Thank You for visiting us at NAB 2024! Thank you for joining us at the ToolsOnAir booth during NAB Show 2024! We were delighted to showcase our latest inno...