What is Account Takeover Fraud?
Account takeover fraud (ATO) is when a fraudster gains illegitimate access to a genuine user's account with and aim to conduct fraudulent transactions or steal account credentials.
The affects of account takeover are far reaching, as criminals will often sell any account credentials they've obtained to other criminals on the dark web, extending the impact far beyond one organization. Alongside bank accounts, ATO affects multiple sectors with loyalty schemes a particularly popular target due to their poor security and high value.
Account takeover by numbers
In the US alone, 38% percent of consumers have experienced account takeover in the past two years.
US Credit card losses from ATO
As well as credit card fraud, a further $177m was lost from US debit cards due to fraudulent transactions.
Unspent loyalty points
Often forgotten about and only protected by a password, loyalty schemes are a great source of income for fraudsters.
Avg. sale price of stolen bank account details
Account credentials are regularly sold on the dark web helping fuel further account takeover attacks through method such as credential stuffing and bot attacks.
How to detect account takeover
Account takeover is part of a complex web of attack vectors. To tackle account takeover organizations should look to positively identify legitimate customers instead of solely relying on individual fraud signals.
Layering multiple intelligence signals such as behavior, device, threat, and location creates a unique digital identity for your users – something a bad actor cannot replicate.
How to prevent account takeover
The first step is assessing for bad actors trying to hack or spoof a system to undermine its security.
Our threat detection solutions check for known vulnerabilities against multiple malware engines, ensuring the session is secure. We also flag risks to an individual session such as if a device is jailbroken, tampered with, or using an emulator.
Our bot detection technology checks whether there is a bot active in the session. We identify behaviors that indicate that a bot attack is underway and flag it if so, allowing you to choose whether to end the session or to dynamically select the appropriate onward action within our Orchestration Layer.
We analyze more data signals across web and mobile than any other vendor. Combining device, location, and threat intelligence with our unique Muscle Memory Technology – the highest fidelity form of behavioral biometrics – we more accurately identify the individual and ensure only the legitimate user has access to their accounts.
Our Orchestration Layer leap into action when a customer exhibits unusual activity. By inserting contextual questions into the customer journey, we provide a cognitive jolt to a user, giving organizations extra context to make risk-based decisions.
Callsign’s threat detection technology prevents remote access scams where a legitimate user’s session had been taken over by a RAT after login. Once this has been identified our system can step-up authentication or take another action in line with an organization’s policy.
As new capabilities go into production, new policies and regulation come into force, and bad actors develop increasingly devious ways to bypass security measures.
Callsign’s Orchestration Layer gives you the control to change adapt with your business – in real-time. With our low code/no code orchestration layer you can design, control, and deploy personalized user journeys that are both seamless and secure. With Callsign you can take a proactive stance on ATO.
Digital solution for a digital problem
Callsign delivers industry-leading AI combining our uniqueMuscle Memory Technology – the highest fidelity form of behavioral biometrics, location, threat and device analysis to passively confirm user identity.
increase in genuine user detection
We are the only solution to layer device, location, threat and behavioral intelligence across web and mobile to accurately identify genuine users.
reduction in step-ups
With our passive authentication, you'll be able to more accurately determine the genuine user.
authentication accuracy rate
With our industry-leading Muscle Memory Technology you can trust your users are who they say they are.