Arkose Labs Introduces Industry’s First Warranty Against Credential Stuffing Attacks

Arkose Labs, provider of online fraud and abuse prevention technology, today unveiled an industry-first $1 million Credential Stuffing Warranty. This unprecedented vendor warranty offers a commercial guarantee against credential stuffing attacks, covering customers up to $1 million in response expenses. The costs covered include legal consultation, forensic services, notification expenses, identity theft and credit monitoring.

Credential stuffing attacks, where fraudsters use automation to test massive amounts of username/password combinations in order to take over user accounts, are one of the biggest issues facing businesses today. Despite significant investment in fraud and authentication solutions, large-scale credential stuffing attacks are resulting in significant business losses and are hindering user experiences. Nearly two-thirds of the attacks seen on the Arkose Labs network target the login point. According to the FBI’s Cyber Division, credential stuffing attacks can cost the average business upwards of $6 million per year.

Furthermore, in a recent Arkose Labs survey of 100 fraud and security professionals, 63% said that these attacks had caused their business compliance concerns and 49% said they had lost customers in 2020 due to successful attacks that targeted user accounts.

This is the first warranty of its kind for these types of attacks. The Credential Stuffing Warranty from Arkose Labs provides customers with robust, user-centric protection against credential stuffing that shifts liability from the business to Arkose Labs. Arkose Labs has proven efficacy in stopping ATO and credential stuffing attacks and takes a zero-tolerance approach to fraud.

Key customer benefits include: 

  • Superior protection
  • End to end management
  • Reduced operational and fraud costs

Arkose Labs continues to build upon its 2020 successes. Last month, Arkose Labs raised a $70 million Series C funding round led by SoftBank Vision Fund 2 with additional participation from Wells Fargo Strategic Capital and previous investors (who are also customers) M12 and PayPal Ventures, bringing the total funding to $114 million to date. The company was also recently recognized for its cybersecurity efforts by Fast Company, Fintech Future and Cyber Defense Magazine.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: