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Akamai Virtual Roundtable

Protecting your user accounts from credential abuse

30th September 2020  |  3PM

Akamai Virtual Roundtable - 30th September 2020 1

Protecting your user accounts from credential abuse

Attackers may already have your customer passwords. Media companies now capture and store an enormous amount of data that has value on the dark web. And attackers follow the money. With our fully digital world, more online consumers create multiple accounts, each with their own login details. So organisations and their consumers have never been more vulnerable to credential attacks. Credential stuffing is a distinct part of the cybercrime economy, and it’s a lucrative one. As criminals get smarter, it is increasingly difficult to protect against them. These swift and sophisticated attacks put your revenue, productivity, and reputation at risk.

Attack trends recorded by Akamai:

- More than 88 billion credential stuffing attacks - about 20% where targeted against the Media Industry (between January 1, 2018, and December 31, 2019).

- Attacks against GAMING companies July 2018 – June 2020 (23 Months).

9,831,295,227 Credential Stuffing Attacks

- Attacks against all verticals December 2017 - November 2019 (23 Months).

85,422,079,109 Credential Stuffing attacks.

Nearly 20%, or 16,557,875,875, were against hostnames that were clearly identified as API endpoints.

Of these, 473,513,955 attacked organizations in the FINANCIAL SERVICES industry.

- Record-breaking attack against a well-known financial firm that included 55,141,782 malicious login attempts.

    In this session, we discuss the credential abuse trends seen in the Media & Entertainment Market and what companies can do: How to address this type of fraud earlier in the kill chain and protect users, brand and revenue.

    *Credential abuse is known by many names. It is a type of a cyberattack in which attackers use collections of stolen login credentials to breach into accounts or other systems.

     

    Discussion Topics Include:

    1. What are possible fraud-related financial losses and negative consequences on your brand and customer experience?
    2. Is a two-factor / multi-factor authentication really enough to protect your users?
    3. Are bots incl. credential stuffing bots slowing down your service, i.e. negatively impacting your website/media service performance?
    4. What do companies need to do today to avoid being in the news in relation to data breaches? What fraud prevention is most effective to protect users and revenue, safeguard brand equity, and maintain customer satisfaction?
    5. What trends are we seeing and what Best Practices can we share across borders?

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    About Akamai

    At Akamai, our mission is to make digital experiences fast, intelligent and secure. Our intelligent edge platform surrounds everything, from the enterprise to the cloud. It keeps apps and experiences closer to users — and attacks and threats far away.

    Top brands globally rely on Akamai as their competitive edge. We help them win in the market through agile solutions that extend the power of their multi-cloud world. Our portfolio of edge security, web and mobile performance, enterprise access and video-delivery solutions is supported by unmatched customer service, analytics, and 24/7/365 monitoring.

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    What is a Virtual Roundtable?

    A Virtual Roundtable is a thought-leading discussion between senior corporate leaders using video conferencing technology. Offering a digital alternative to physical business events and roundtable dinners, Virtual Roundtables help professionals to identify actionable solutions to their key challenges without the need to leave their home or office.

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