Fraudsters Using Bots on Massive Scale

Fraudsters are more and more often using bot attacks to test stolen identities and payment cards. Are you a merchant interested in how you can best protect your business? Where can you get the lowest-cost merchant account UK so to grow your business? Just read this article and you’ll get to know.

Fraudsters Using Bots

According to ThreatMetrix, a security technology company headquartered in California, cybercriminals are using bots on a grand scale to test and spoof identity credentials. This is often being done in terms of global, cross-border attack.

Cybercriminal attacks through bots are becoming more advanced, by evolving from their basic velocity-based functions to complex bots. The latest ones can be used in more advanced ways to spoof IP addresses, emulate browsers or spoof apps. There’re so-called “masquerading bots” that’re developed to mask their true context and pretend to be legitimate user traffic.

Unlike it was in the past, when bot spikes used to be short and sharp bursts of activity lasting a day or two, today, they’ve become more frequent.

With all this in mind, it’s critical for merchants to work only with a reputable payment processor that offers the highest level of payment processing protection to its users. Turning to a payments expert in the UK, you can find the most secure merchant services provider that will also offer the cheapest merchant account uk.

Look for a payments specialist, with which, you can enjoy free consultations, the best rates, fees, as well as the most honest snapshot of the company at the time of writing.

What to Expect From Fraudsters

2017 can be called “the year of the scam.” This year, fraudulent scams are expected to rocket.  In 2017, almost 2 million online fraud incidents were reported. The data is provided the Public Accounts Committee. Only 20% of crimes were actually reported.

In 2017, Action Fraud, the national fraud and cybercrime reporting centre, warned about cold calls from fake bailiffs, timeshare fraud, and even scams by post.

According to some viewpoints, the world is going to witness more phishing attacks that rely on AI over the next 12 months.

As Dave Palmer, director of technology at Darktrace, notes, this year, the world is going to see the emergence of threat-actors harnessing AI technology to launch sophisticated, automated campaigns.

Moreover, in 2018, ransomware attacks are also expected to increase. This is when victims’ data is locked away forever or published unless they pay a fee to the criminal. In addition, fraudsters are expected to use news and fake news to get people’s attention.

Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who also enjoys writing, playing guitar, and camping. BestPaymenProviders is UK’s cheapest merchant account uk company, serving both traditional and high-risk merchants.