ACCOUNT TAKEOVER PROTECTION

Before Cash Disappears

BioCatch Account Takeover Protection generates advanced behavioral insights to provide you with the continuous monitoring you need to detect more fraud, increase customer trust, and reduce false positives.

Account Takeover Fraud In Numbers

$11.4

Billion

Total losses attributed to account takeover fraud in 2021 in the U.S.

£819

Million

Total estimated losses attributed to authorized push payment fraud in 2021 in the UK

38%

Percent of consumers who were the victim of account takeover in the last two years

72%

Percent of global financial institutions that cite account takeover fraud as leading cause of concern

Expose Account Takeover Fraud With Behavioral Biometrics

BioCatch risk models leverage innovative research and a decade of data to continuously monitor web and mobile sessions and expose a broad range of account takeover threats that legacy fraud prevention controls miss.

Click below to explore ways to protect against account takover:

Manual Account Takeover

Detect cases of stolen account credentials that are used to gain unauthorized access to user accounts through manual login requests.

Automated Attacks

Detect behaviors that indicate bots or other automated tools.

Financial Malware

Identify behaviors, such as disruptions in hand-eye coordination and scrolling patterns, that are associated with financial malware.

Remote Access Tools (RAT)

Uncover behavior patterns that indicate the use of Remote Access Tools used in malware and social engineering scams.

Phishing Site Detection

Get real-time phishing site alerts and scheduled victim reports that let you know which of your customers have been compromised.

LATAM Bank Uses Behavioral Biometrics to Fight Account Takeover Fraud

Banorte doubled the number of digital banking customers during the pandemic which was a dream for digital business leaders. The problem was fraudsters also joined the migration to their digital platforms. Hear more from Rafael Fragoso, Director of Mobile Banking, Banorte on how they worked with BioCatch to meet the needs of their customers, mitigate risk from account takeover fraud and reduce false positives.

BioCatch Delivers Account Takeover Protection to Help Your Organization:

Reduce Fraud. Increase Trust.

BioCatch Account Takeover Protection more effectively fights fraud to help organizations build trust with customers and manage risk across digital channels.

Learn how a Top 5 UK bank:

Achieved 81% fraud detection rates with only a 0.05% false positive rate
Halted a prolonged account takeover attack leveraging advanced malware
Stopped a £1.6M attempted fraudulent transaction

Gain Immediate Behavioral Insights

BioCatch advanced risk models leverage a decade of data to immediately deliver actionable behavioral insights so your teams can determine the appropriate course of action.

Learn how a large LATAM bank:

Decreased social engineering fraud targeting mobile customers by 67% using advanced behavioral insights
Reduced alert rate to only 0.03%

Improve Customer Experience

BioCatch significantly reduces false positives ensuring organizations can create a positive user experience and introduce more products and services with confidence.

Learn how a large UK bank:

Demonstrated a 95% reduction in “snail mail” friction during the credential re-enrollment process
Saved £300K per month from authorized push payment fraud
Realized £4 in fraud savings for every £1 invested in behavioral biometrics

Protect Customers From Real-Time Social Engineering Scams

Criminals excel at connecting to the human element, and a large amount of time in scam scenarios is spent setting the scene with potential victims. Real-time social engineering scams often occur over the phone and remain among the most difficult forms of account takeover to detect because the user is on their own device, present in a known location, and able to pass all forms of multi-factor authentication if needed. There are very clear patterns associated with genuine and fraudulent activity.

Detect Mule Accounts Early to Reduce Risk Exposure

Mule accounts play a pivotal role in determining the success of an account takeover attempt. If criminals do not have a mule account to send the cash from a fraudulent transaction or payment, they will not achieve their goal. Not every mule account is equal and understanding how they operate requires a deep understanding of digital behavior and account patterns. Behavioral biometrics unwraps the complexity to help financial institutions identify mule accounts earlier and reduce operational costs and risk exposure downstream.

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