Announcing Cloudflare Fraud Detection


The world changed when the COVID-19 pandemic began. Everything moved online to a much greater degree: school, work, and, surprisingly, fraud. Although some degree of online fraud has existed for decades, the Federal Trade Commission reported consumers lost almost $8.8 billion in fraud in 2022 (an over 400% increase since 2019) and the continuation of a disturbing trend. People continue to spend more time alone than ever before, and that time alone makes them not just more targeted, but also more vulnerable to fraud. Companies are falling victim to these trends just as much as individuals: according to PWC’s Global Economic Crime and Fraud Survey, more than half of companies with at least $10 billion in revenue experienced some sort of digital fraud.
This is a familiar story in the world of bot attacks. Cloudflare Bot Management helps customers identify the automated tools behind online fraud, but it’s important to note that not all fraud is committed by bots. If the target is valuable enough, bad actors will contract out the exploitation of online applications to real people. Security teams need to look at more than just bots to better secure online applications and tackle modern, online fraud.