Account Takeover Fraud In Numbers
Total losses attributed to account takeover fraud in 2021 in the U.S.
Total estimated losses attributed to authorized push payment fraud in 2021 in the UK
Percent of consumers who were the victim of account takeover in the last two years
Percent of global financial institutions that cite account takeover fraud as leading cause of concern
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