Stopping Account Takeover Fraud When Traditional Cyber Defenses Fail
Account Takeover (ATO) attacks continue to rise, driven by the incessant attempts of cyber criminals to take over accounts from afar and automate fraud. Despite traditional fraud detection measures and cybersecurity safeguards, malware and RAT attacks remain prevalent. Sophisticated social engineering also continues to be a weapon of choice, as fraudsters gain access to victims’ machines and steal credentials, trick users, intercept consumers online, or monitor and intercept consumer activity. Undetected account takeover attacks can result in direct losses to account holders and have a long-term detrimental effect on business and customer confidence.
Traditional fraud detection solutions are solving yesterday’s problems, relying on passwords, two-factor authentication and device ID to block cybercriminals at login. But today, 100% of fraud occurs within authenticated sessions. BioCatch’s patented technology analyzes more than 2,000 behavioral parameters to detect behavioral anomalies and offer a new level of account takeover fraud detection that secures sessions from login to logout with no disruption to the user experience.
How Does BioCatch Detect Account Takeover Fraud?
- Identifies behavioral activity and cognitive actions taken by the user that are generally associated with fraud
- Identifies deviation from a users’ normal physical and cognitive behavioral patterns
- Detects the presence of social engineering and other cyberthreats
- Generates real-time risk scores and threat indicators