Arkose Labs™, the global leader in bot management and account security, announced the first Australian $1 million Credential Stuffing Warranty™. This unprecedented warranty offers a commercial guarantee against credential stuffing attacks, covering Australian enterprises up to roughly AUD 1.5 million (USD 1 million) in cyberattack response expenses. The costs covered include legal consultation, forensic services, notification expenses, identity theft and credit monitoring.
Credential stuffing, where fraudsters use automation to test massive amounts of username/password combinations to take over consumers’ accounts, is the most prevalent and difficult type of online account-based attack to detect and mitigate, causing more consumer harm than ransomware. Australia is seeing an unprecedented number of data breaches which are the driving force behind credential stuffing attacks. It’s more important now than ever that cybersecurity vendors hold themselves accountable to provide solutions that can guarantee data will not be used to attack organizations.
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Arkose Labs Founder and CEO Kevin Gosschalk said, “Enterprise CISOs are under pressure to ensure their cybersecurity solutions improve productivity and produce a material ROI, as well as protect their systems and strengthen the online environment they create for consumers. Security is a ‘before-the-fact’ investment, meaning you pay upfront in hopes of saving costs in the long run, but there’s no guarantee or certainty that the technology will work. With this warranty, CISOs have a guaranteed outcome: either Arkose Labs stops the attack, or we cover the loss.
“Accountability is in our DNA, which is why we pioneered the $1 Million Credential Stuffing Warranty. For CISOs, the cost of fraud can no longer be considered a cost of doing business, and for cybersecurity vendors, ‘best efforts’ can no longer be considered good enough. While many cybersecurity vendors boast about their capabilities, few appear confident enough to offer guaranteed performance levels. That needs to change. When it does, society as a whole will benefit from a significant drop in online fraudulent activities because cybersecurity technologies will have even higher levels of efficacy.”
SOURCE: PR Newswire