Many years ago, there was a notorious U.S. bank robber named Willie Sutton. He’d get arrested, spend time in jail, and do it again as soon as he got out.
Asked why he continued to rob banks, Sutton replied: “Because that is where the money is.”
A century later, the money is in cybercrime.
Conservative estimates suggest that cybercrooks are looking at a potential payoff of more than $8 billion annually by 2018. That’s more than the Gross Domestic Product of 49 nations.
How do cybercriminals get away with this? Often by taking advantage of carelessness among users – 80 percent of us use the same password for most of our digital interactions — and weaknesses in companies’ security systems.
Recently a large retailer’s website recorded 300,000 login attempts in one day from thousands of IP addresses – an assault by robot networks to crack user identities. Early warning can be the key to preventing serious hacks.
This is why Gigya is introducing Network Protected Identity (NPI), the first in a suite of network-driven services called Gigya Network Effects.
You can learn more about NPI in a webinar on Dec. 15 at 11 am Eastern, but here’s the shorthand: NPI helps make sites and consumers safe by monitoring for identity attacks across Gigya’s network of thousands of websites and 1.1 billion digital identities, stepping up authentication for users when account takeover threats are detected. With NPI, you set the tolerance levels for failed login attempts at the site level, then implement CAPTCHA tests or send one-time passwords to affected users when those tolerance levels are crossed.
That army of black hats is getting larger, smarter and faster every day. It’s time you used all available weapons against the assault. Take the first step by joining our webinar.
By Rashmi Vittal