Account Takeover Fraud In Numbers
Total losses attributed to account takeover fraud in 2019 in the U.S.
Total losses attributed to authorized push payment fraud in 2020 in the UK
Percent of consumers who were the victim of account takeover in the last two years
Global average loss per incident of business wire transfer fraud
How to Build Trust and Safety into your Digital Channels
BioCatch risk models leverage innovative research and a decade of data to analyze a user’s physical and cognitive digital behavior and continuously monitor web and mobile sessions to distinguish between genuine users and criminals, whether human or automated attacks such as bots, malware, or Remote Access Tools (RAT).
By profiling user behaviors such as mouse movements, typing cadence, swipe patterns or device orientation, the BioCatch platform identifies statistically observed norms for “good” and “bad” behavior. Powered by machine learning, the platform authenticates users against their historical profiles and generates a risk score so you can determine the appropriate course of action.
5 Things Fueling Account Takeover
Several modes of operation are used by cybercriminals to successfully commit account takeover fraud, including automated credential stuffing, malware, and remote access tool attacks. Gain insight into what is fueling the growth in account takeover attacks, what traditional fraud prevention tools are missing, and new strategies and approaches to fight back.
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