Arkose Labs Offers $1M Warranty to Protect Businesses from Surging Card Testing Fraud Attacks
Easy access to malicious, intelligent bots cause renewed use of card testing to scam businesses and consumers
SAN MATEO, Calif., Oct. 11, 2023 /PRNewswire/ -- Arkose Labs, the global leader in bot management and account security, today announced a commercial guarantee for customers against card testing attacks. The Card Testing Warranty covers up to one million U.S. dollars in expenses such as Payment Card Processor Authorization fees if Arkose Labs' technology does not perform as expected. This first-of-its-kind guarantee provides businesses with additional assurance that Arkose Labs will safeguard against card testing, an attack that is rising with the use of intelligent bots.
Card testing is an insidious type of payments fraud in which cybercriminals make small purchases such as $1.00 or $2.00 to validate stolen credit card information and test card details on websites. Fraudsters have supercharged these attacks with automation. They now use bots purchased on the dark web, or build their own with GenAI, to quickly test thousands of cards and find the ones that will allow a purchase to go through. Once valid credit card numbers are identified, fraudsters can execute larger unauthorized transactions or other fraudulent activities.
"Card testing is back with a vengeance," said Kevin Gosschalk, founder and CEO of Arkose Labs. "This type of attack has been around for years, but automation combined with AI has raised the stakes for merchants, hitting their bottom lines at massive scale, and wreaking havoc on revenue, customer trust, and operational efficiency. Ready-made card-testing bots plus tutorials on how to card test are widely available on the dark web, reflecting the Cybercrime-as-a-Service trend. That's why we're adding card testing to our industry-first portfolio of warranties. We believe that cybersecurity vendors should work on guaranteed results and not 'best efforts.'"
Arkose Labs helps companies fight bot-driven card testing attacks before they can achieve scale and increase the damages. Its award-winning platform, Arkose Bot Manager, identifies and prevents card testing using real-time fraud detection, behavioral biometrics, adaptive machine learning, and risk-based authentication. The customizable solution integrates easily into existing infrastructure to protect customers from fraud while preserving the user experience.
More details about the warranty can be found at: https://bit.ly/3rR0grZ. For more information about how Arkose Labs can prevent card testing, visit this link.
Arkose Labs' Card Testing Warranty is the latest in a portfolio of million dollar warranties from Arkose Labs that guarantee results against bot attacks. In this program, the company already offers warranty protection against two of the fastest growing attacks: SMS Toll Fraud and Credential Stuffing.
The Arkose Labs SMS Toll Fraud Warranty covers up to a million U.S. dollars in telecom expenses if Arkose Bot Manager fails to defeat an SMS toll fraud attack on an Arkose managed service customer within the SLA. Arkose Labs has saved a number of companies well into the millions of dollars in fraudulent SMS charges.
Arkose Labs introduced its first global warranty in 2021, demonstrating its commitment to customer partnership and confidence in the foundational approach on which its technology is built – to increase financially-motivated adversaries' efforts, thus, cost so that the amount of money they make per attack is de minimis to nil. It's effective. In a recent KrebsOnSecurity article, a scammer told investigative reporter Brian Krebs: "'My partners (I'm programmer) lost time and money while ArkoseLabs (funcaptcha) introduced new precautions on Twitter,' Quotpw wrote in a Telegram reply. 'On Twitter, more spam and crypto scam.'"
The Arkose Labs Credential Stuffing Warranty was the first security warranty of its kind in the industry for this type of attack. The warranty covers up to a million U.S. dollars in incident response expenses if a credential stuffing attack is not defeated within 48 hours.
Enterprise security professionals have eagerly embraced the Arkose Labs Warranty Program. A banking executive recently said, "Seeing your $1M Credential Stuffing Warranty gave me more confidence your solution works more so than any other product in the industry."
Gosschalk said, "I'm proud to say it's been two years since we launched this warranty program, and we haven't had to pay out, which is a testament to the efficacy of our technology."
About Arkose Labs
The mission of Arkose Labs is to create an online environment where all consumers are protected from online spam and abuse. Recognized by G2 as the 2023 Leader in Bot Detection and Mitigation, with the highest score in customer satisfaction and largest market presence four quarters running, Arkose Labs offers the world's first $1M warranties for credential stuffing and SMS toll fraud. With 20% of our customers being Fortune 500 companies, our AI-powered platform combines powerful risk assessments with dynamic threat response to undermine the strategy of attack, all while improving good user throughput. Headquartered in San Mateo, CA, with offices in Argentina, Australia, Costa Rica, India, and the U.K., India, Arkose Labs protects enterprises from cybercrime and abuse. For more about Arkose Labs, follow the company on LinkedIn.
Contact:
Jean Creech Avent
Head of Global Brand and Communications
Arkose Labs
[email protected]
+1 843-986-8229
SOURCE Arkose Labs
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