Keep your digital business safe from Account Takeover Fraud with XTN Cognitive Security®:
In recent years, Account Takeover Fraud has become one of the most common types of fraud worldwide, with attacks involving any organization providing credential-protected accounts to customers or employees. Fraudsters are becoming increasingly sophisticated in their approach to fraud and they often target high-value accounts such as bank accounts and credit cards. In summary, Account Takeover Fraud continues to pose a growing threat to individuals and businesses. Early prevention and detection are essential to mitigate the effects of fraud and protect one’s accounts.
Account Takeover Fraud aka ATO is a type of cybercrime in which a fraudster gains unauthorized access to a victim’s account, typically a financial account, an email account, or an e-commerce account. The fraudster may use a variety of techniques to obtain the victim’s login credentials, such as phishing emails, malware, or social engineering. Once the fraudster gains access to the victim’s account, they can use it to make unauthorized transactions, steal personal information, or commit other fraudulent activities.
Account Takeover Fraud works by a fraudster gaining access to a victim’s account, typically through stealing the victim’s login credentials or through exploiting vulnerabilities in the account’s security measures. The process of account takeover can involve several steps:
Account Takeover is a fast-growing and widespread fraud affecting any digital service with a customer-facing login. This means the danger is real for all industries, but the most targeted are financial services, PA, retail, gaming, and reward programs. Also, IT, HR, and management are the more attacked departments. There are several challenges associated with preventing and detecting account takeover fraud, including:
XTN Cognitive Security® offers a comprehensive solution designed to help digital services prevent and detect Account Takeover Fraud. By automatically blocking abnormal logins and implementing additional verification measures when necessary, XTN Cognitive Security® ensures a secure environment for users. Our solution combines advanced machine learning techniques with behavioral insights and powerful device fingerprinting to analyze user behavior and assess the risk level. This allows us to provide a seamless user experience while effectively preventing fraud.
The XTN Account Takeover Fraud Protection solution covers the following main areas of analysis:
The XTN Cognitive Security Platform® detects any signs of fraudulent activity in real-time, providing comprehensive coverage against different types of ATO attacks, including:
Consequences of Account Takeover can impact a digital business by:
• Credential damage
• Monetary losses
• Reputational and brand damage
• Loss of customer trust
• Phishing campaigns
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