Account Takeover Fraud is a form of online identity theft in which a cybercriminal illegally gains access to a victim’s account, such as a bank account or e-commerce account. The cost of these attacks tripled from 2016 to 2017, reaching an estimated $5.1 billion in the United States alone. 40% of all account access attempts online are high risk, meaning they are targeting access to financial data or something of value. E-commerce industry is growing at a rapid rate as online retailers tap into new markets in Asia and South America and consumers enjoy the convenience of online shopping.”]
Source: https://www.inforisktoday.com/blogs/costs-risks-account-takeover-p-2768