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BizReport : Internet : March 03, 2020

Studies: Cyberattacks up, consumers want data compensation

New data out from Akamai shines a spotlight on how fraudsters are attacking financial sector brands: 75% of hackers target the APIs of financial brands with credential stuffing attacks.

by Kristina Knight

Akamai points to a single attack, caught August 7, 2019 in which credential stuffers attempted more than 55 million malicious login attempts against a single financial sector brand. The attack targeted APIs and other methods.

"Criminals are getting more creative and hyper-focused on how they go about obtaining access to the things they need to conduct their crimes," said Steve Ragan, Akamai security researcher and principal author of the State of the Internet / Security report from Akamai. "Criminals targeting the financial services industry pay close attention to the defenses used by these organizations, and adjust their attack patterns accordingly."

In addition to credential stuffing and attacks against APIs, fraudsters continue to employ DDoS attack strategies and note that just over 7% of attacks during the reporting period were XSS

More data from Akamai's Financial Services - Hostile Takeovers report can be accessed here.

Meanwhile, data out from Braze indicates as many as 70% of consumers want to be compensated for sharing their personal data with brands. What may be more surprising is that most of the marketing executives survey agree (94%). Researchers also found that 4 in 5 consumers believe it is 'very important' for brands to keep their data secure but fewer than one-third of marketing execs agree that data privacy is as important as what consumers believe.

More Braze data can be accessed here.

Tags: Akamai, Braze, cybersecurity, data privacy, data protection, online data

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