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Bots are costing businesses millions every year

(Image credit: Image Credit: Computerizer / Pixabay)

Every year, businesses lose the equivalent of 3.6 percent of their revenue to bot attacks, according to a new report from Netacea. For a quarter of businesses affected (25 percent), this amounts to a quarter of a million dollars lost.

The bot management firm says the average enterprise takes three months to spot a bot attack, mostly because they don’t have a unified approach to the problem, and don’t share the same language with the rest of the bot community.

Furthermore, they often don’t understand what drives and motivates attackers, Netacea says.

The Covid-19 pandemic and the shift to remote working has only created new challenges. Last year, two-thirds of businesses detected website attacks, while roughly half witnessed an attack against their mobile apps. 

While every industry is faced with the same problem, the type of bots and the methodology behind the attack vary. Checker bots, which use credential stuffing to take over compromised accounts through stolen login data, are the most common. Sniper bots, scalper bots and scraper bots were also listed as major headaches.