Online retail hackers account for 90% of all login attempts. According to a report by cybersecurity firm Shape Security, hackers use special software with stolen data to login multiple times, called credential stuffing.
These attacks are successful as often as 3% of the time, and the costs quickly add up for businesses, Shape says. This type of fraud costs the e-commerce sector about $6 billion a year, while the consumer banking industry loses out on about $1.7 billion annually. The hotel and airline businesses are also major targets—the theft of loyalty points is a thing—costing a combined $700 million every year.
Check It Out: Online Retail Hackers Account for 90% of Login Attempts