Account takeover fraud (ATO) attacks are on the rise, up nearly 300 percent since last year. In 2019 alone, ATO attacks cost consumers and e-commerce retailers a whopping $16.9 billion in losses. In a typical ATO attack, criminals use automated bots to enter stolen credentials into online accounts and they also search for clues to crack passwords and security codes to cash in further. ATO criminals have evolved into well-funded, well-organized, state-sponsored actors.
Source: https://threatpost.com/account-takeover-fraud-online-retailers/159802/