Security News > 2020 > October > Account Takeover Fraud Losses Total Billions Across Online Retailers

In 2019 alone, ATO attacks cost consumers and e-commerce retailers a whopping $16.9 billion in losses.

To be clear, ATO fraud isn't new, it's been a concern for online retailers for a decade.

Sift's report calls this a "Catch-22" for retailers in trying to balance "Concerns of fraud and friction."

ATO fraud victims have been exposed across all kinds of sites - dating, travel, banking and social media - meaning consumers are at risk almost anywhere they go online shop or buy services.

The cost to online retailers goes far beyond the initial fraud.

News URL

https://threatpost.com/account-takeover-fraud-online-retailers/159802/