Security Expert Re: FBI Issues Alert, Says Credential Stuffing Attacks Account For 41% Of Recent Bank Hacks

The FBI sent a private security alert to the US financial sector warning about the increasing number of credential stuffing attacks that have targeted their networks, leading to breaches and considerable financial losses. Since 2017, nearly 50,000 account compromises have been reported against US banks, financial services providers, insurance companies, and investment firms.Credential stuffing attacks accounted for 41% – the greatest volume – of all security incidents against the financial sector from 2017-2019.


EXPERTS COMMENTS
Dan Piazza, Technical Product Manager,  Stealthbits Technologies
September 16, 2020
The FBI alert includes some powerful steps that all networks and websites containing sensitive accounts should adhere to.
This FBI security alert highlights some of the most important security measures companies should utilize to thwart credential-based attacks such as credential stuffing. However, time and time again users have proven they'll disregard expert advice, reuse credentials, and select simple passwords. With that in mind, good advice such as "advise customers and employees to use unique passwords they are ....
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