NEW YORK, NY — October 12, 2023 — New survey results by Kasada, the pioneers transcending bot management by countering the human minds behind automated threats, show companies are losing revenue in the fight against malicious bot attacks. In fact, 96% of organizations lost revenue to bots in the last 12 months.
Despite spending millions of dollars on traditional bot management solutions, companies are still financially impacted by bot attacks. According to the survey, 38% of respondents estimate that a single bot attack costs their organization $500,000 or more, up from 25% in last year’s survey. Plus, half (50%) of organizations lost 10% or more of revenue due to bot-driven account fraud within the last year, up from 40% of organizations last year.
“The rising costs of automated attacks are due to the fact that adversaries are getting more advanced while organizations are still relying on outdated solutions that are slow to evolve, easy to evade, and difficult to manage,” said Sam Crowther, founder and CEO of Kasada. “In fact, only 19% of this year’s respondents said their anti-bot solutions remained effective a year after initial deployment.”
To read the full story on 2023 State of Bot Mitigation, click here.