America Considers Grinch Bots Ban

guest · Dec 3, 2019

America Considers Grinch Bots Ban
'Grinch bots' are here to ruin your holiday shopping
December 3, 2019
https://www.infosecurity-magazine.com/news/america-considers-grinch-bots-ban/

The US Congress is to consider a bill to block the use of Grinch bots, which buy up large quantities of toys then re-sell them at hugely inflated prices.
Senator Richard Blumenthal introduced the Stopping Grinch Bots Act bill on Friday, with support from Senators Tom Udall and Charles Schumer and House Representative Paul Tonko.

Cyber Grinch bots use automation technology to bypass security measures and order large batches of the most sought-after toys and other products, which are then resold at grossly inflated prices by the bad actors who deployed the bots.

"Allowing Grinch bots to rig prices and squeeze consumers during the holiday season hurts American families, small business owners, product makers, and entrepreneurs. We will not allow this market manipulation to go unchecked,” said Paul Tonko.
The legislation has received support from national consumer organizations, including Consumer Reports, Consumer Federation of America, and the National Consumer League.
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'Grinch bots' are here to ruin your holiday shopping

Up to 97 percent of all online traffic to retailer login pages this holiday shopping week comes from bots, largely operated by organized gangs of cybercriminals, according to estimates by cybersecurity firm Radware.

The cyber thieves also crack into accounts, drain accounts of rewards and other digital currency, conduct credit card fraud, and more, said Ron Winward, a Radware spokesman.

“Website operators are seeing uptick in bot activity leading up to Cyber Monday from people trying out their bots,” said Winward. “People are really competing with automated infrastructure and bots to get hot holiday items.”
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