Top 5 U.S. Bank Launches Behavioral Biometrics to Stop Account Takeover Attack Using Zelle Payments
A top U.S. bank was experiencing a sustained account takeover attack in which cybercriminals used social engineering tactics to trick customers into sharing their online banking credentials. Once inside the account, cybercriminals would proceed to enroll the customer into Zelle, set up new payees and initiate real-time fraudulent payments.
The bank was already using BioCatch to detect account takeover fraud. The BioCatch behavioral biometrics solution implementation was extended to login, user dashboard and high-risk activities such as Zelle enrollment and payments. During the massive Zelle attack, the BioCatch risk score provided a deeper layer of visibility to identify fraudulent activity and eventually deflect the attack.