Stop Automated Fraud with F5 Shape

Companies are dealing with fraud at an unprecedented rate. As digital transactions continue to increase, customers’ personal identifiable information is becoming more accessible than ever. Companies must improve their defenses against automated fraud to prevent reputational damage and fraud loss.

Automated fraud happens when cybercriminals use bots to attack a person or organization with the goal of disrupting business operations and stealing customer data. Here are some of the most common forms of automated fraud that organizations experience:

Inventory hoarding refers to hostile bots making online shopping inventory unavailable to customers by adding items to shopping carts without ever going through with the sale. It sounds harmless, but online stores typically take an item out of the inventory when it is in an online shopping cart. With bots hoarding your inventory, customers that actually want to purchase your goods or services will not be able to. This effectively reduces the amount of inventory that is available to real customers and can dramatically affect a company’s revenue.

Another fraud threat that online retailers deal with is gift card cracking. Attackers check millions of gift card number variations to identify legitimate gift cards and steal the value of the gift card. Attackers can then either use the gift cards themselves or sell the gift cards on an online marketplace. Customers who hold the physical gift card are unable to redeem it, which may cause them to lose trust in your business.

Account takeover happens when cybercriminals compromise legitimate accounts and take control of them. Taking over a legitimate account gives them access to the data and permissions allowed to that account. The attackers can then launch more cyberattacks, including data exfiltration and financial fraud. There are a number of ways attackers can gain access, from phishing emails to brute-force attacks. Account takeovers often target online retailers where attackers then steal customer information.

Fraud teams need to better defend against automated fraud in order to better service their customers and protect valuable data. Not preventing fraud means that you are falling behind your competitors.

Organizations can utilize F5 Shape in order to better protect against online fraud. F5 helps protect your business against malicious bots with machine learning, artificial intelligence, and a large data set. Shape Enterprise Defense protects online gift card applications from automated requests that attackers use to steal gift card information. Organizations can rely on F5 to better protect against online fraud attacks.

If you are interested in learning more about F5 Shape, contact the experts at Adapture. Adapture has extensive experience and expertise with F5 Networks technology, and our experts are on hand to answer questions and schedule technical whiteboarding.