The breadth and depth of our data sources and those of our partners allow you to make the most of every customer interaction and expand your addressable market. Drive successful transactions with identity monitoring and flagging unusual activities.
Increase staff efficiency with enhanced decisioning and workflow capabilities and ramp up your account takeover prevention strategy. Optimize your resources by focusing on high-risk accounts that need closer monitoring.
Our open-architecture fraud platform and account takeover solutions allow you to quickly adopt the most relevant technologies from a wide range of providers to stop fraudulent account access and reduce your fraud losses.
(Source: 2022 Identity Fraud Study: The Virtual Battleground, Javelin, March 2022)
(Source: Key Trends Driving Fraud Transformation in 2021 and Beyond, Aite Group, December 2020)
Account takeover fraud is when a fraudster gains access to an account that doesn’t belong to them, changes information such as login credentials or personal information, and then makes unauthorized transactions in that account. This has gone a step further in recent years, where the fraudster also gains control of separate accounts, such as mobile or email accounts, where one-time passwords or password change instructions can be sent.
The massive influx of consumer data to the internet, and from there, to the dark web, created new opportunities for bad actors to make unauthorized transactions from users’ accounts. Due to its nature, account takeover fraud can be difficult to detect, and an attack can go unnoticed for long periods of time. This can lead to businesses losing money when bad transactions occur, and having negative impacts to their reputation if knowledge of the fraud becomes public.
When it comes to detecting fraud in consumer accounts, it’s important to minimize outreach and false positives and instead present the opportunity for consumers to self-cure before disabling an account, which causes friction and frustration. Business can alleviate the risk of account takeover fraud and confidently engage consumers using holistic, risk-based identity and device authentication, as well as targeted, knowledge-based authentication. End-to-end fraud management solutions can help reduce manual processes and remove the risk of information silos.