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Enterprise Security Magazine | Tuesday, August 17, 2021
This first of its kind vendor warranty covers clients up to one million dollars in response costs in the event of a credential stuffing attack.
FREMONT, CA: Arkose Labs, a provider of online fraud and abuse prevention solutions, recently announced one million dollars Credential Stuffing Warranty, which is the first of its kind in the market. This vendor warranty covers clients up to one million dollars in response costs in the event of a credential stuffing attack. Legal advice, forensic services, notification charges, identity theft, and credit monitoring are all covered expenses.
Kevin Gosschalk, CEO of Arkose Labs, said, “Arkose Labs is an ally to digital businesses when it comes to thwarting automated credential stuffing attacks. That is why Arkose Labs offers the industrys first commercial warranty to support our customers with up to one million dollars in response expenses if we fail to defeat an automated attack. We want to show our commitment to customers by sharing a portion of responsibility with regard to attack mitigation.”
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Credential stuffing attacks, in which fraudsters utilize automation to test a large number of username/password combinations in attempt to gain access to user accounts, are one of the most serious problems that businesses face today. Despite tremendous investment in fraud and authentication solutions, large-scale credential stuffing assaults cause significant corporate losses and negatively impact user experiences. The login point is the target of over two-thirds of the assaults seen on the Arkose Labs network. Credential stuffing attacks can cost a corporation upwards of six million dollars each year, according to the FBI's Cyber Division.
Patrice Biffa, vice president of customer success for Arkose Labs, said, “This warranty provides commercial assurance that Arkose Labs delivers the most robust protection against credential stuffing attacks available on the market today, while maintaining a completely user-centric approach to security that challenges suspicious traffic using incremental risk-based friction, rather than blocking it outright.”
Furthermore, according to a recent Arkose Labs study of 100 fraud and security specialists, 63 percent stated these assaults had generated corporate compliance worries, and 49 percent indicated they had lost clients in 2020 as a result of successful user account attacks. This is the first guarantee of its sort for attacks like this. Arkose Labs' Credential Stuffing Warranty provides customers with comprehensive, user-centric protection against credential stuffing, transferring risk from the business to Arkose Labs. Arkose Labs has a track record of successfully preventing ATO and credential stuffing attacks, and it takes a zero-tolerance stance to fraud.
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