Security News > 2021 > July > Turning the tide on surging account takeovers in the media industry

Account takeovers are on the rise, fueled by the widespread use of automated bots.

The media industry, which includes social networks, content streaming, gambling, gaming, and online dating sites, is seeing attacks on new account creation processes at a higher rate than any other industry in the second half of 2020, according to a recent report by LexisNexis Risk Solutions.

The media industry recorded significant growth in bots making payment transactions year over year.

The significant volume of attempted account takeovers represents the risk posed to the industry by fraudsters looking to access good user account balances or to simply launder crime proceeds across different industries and geographies.

This is largely due to the high value of mobile phones and the potential to quickly build up large account charges, particularly on content downloads and media streaming.

Evaluate transactions before they're finalized and uncover account takeover attempts by confirming account changes by email, text, and other forms of multi-factor authentication.

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