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The New Era of Fraud: A Bot-Driven Threat

Think App Security First

Published November 2019
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Banks and financial institutions used to be the primary targets of fraud. Why banks? To quote the notorious American bank robber Willie Sutton, “because that’s where the money is.” While banks remain firmly in the crosshairs of fraudsters, the avalanche of digital business innovation has changed everything.

Since the money is everywhere, every business is a potential target for fraud. The same technology that helps us find airfare deals, sweet concert seats, or the best prices on the hottest Jordan shoes–that is, bots–can now be used by criminals.

Fraudsters employ automated, faceless bots that scour business apps looking for any opportunity to profit. And since fraud targets business-process weaknesses and not just software vulnerabilities, you may not even know when it is happening.