We polled 1,105 U.S. adults online in July on behalf of fraud prevention platform, Sift. The goal of the study was to better understand the increasing prevalence of ATO (Account takeover) attacks, which have risen by 71% in fintech, 34% in on-demand services and 9% in digital goods and services, such as subscription content like Netflix and Spotify. These online invasions of privacy can have dire consequences, empowering payment abuse and content scams by adding apparent legitimacy to fraudulent transactions and posts, As Kevin Lee, VP of trust and safety at Sift explains “ATO feels like a violation, especially now that consumers have so much choice, if they suddenly take their business somewhere else, it’s incredibly damaging to the merchant. A loyal customer has been compromised, and you’re losing future transactions as well.”
Read more on Multichannel Merchant.
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Author Notes:
Jeffrey Henning
Jeffrey Henning, IPC is a professionally certified researcher and has personally conducted over 1,400 survey research projects. Jeffrey is a member of the Insights Association and the American Association of Public Opinion Researchers. In 2012, he was the inaugural winner of the MRA’s Impact award, which “recognizes an industry professional, team or organization that has demonstrated tremendous vision, leadership, and innovation, within the past year, that has led to advances in the marketing research profession.” In 2022, the Insights Association named him an IPC Laureate. Before founding Researchscape in 2012, Jeffrey co-founded Perseus Development Corporation in 1993, which introduced the first web-survey software, and Vovici in 2006, which pioneered the enterprise-feedback management category. A 35-year veteran of the research industry, he began his career as an industry analyst for an Inc. 500 research firm.
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