Account takeover fraud is a type of identity theft that occurs when a hacker uses stolen credentials to gain access to a legitimate account. The stolen accounts are used to make purchases, transfer funds, or steal credit card information. As account takeover methods become increasingly automated and consumers spend more time online, the risk of ATO fraud increases year after year.

Account takeover fraud not only impacts a business’s bottom line, but it can also cause businesses to lose customers and damage their company's reputation.

By preventing fraud from happening with Account Takeover Detection, your business will:

•Protect brand image

•Reduce Customer Care escalations

•Decrease fraud losses

When businesses are interacting with customers at a large scale, it can be challenging to know whose accounts are being impersonated. Brands need to stop these false transactions from happening before they do serious damage. Unlike a stolen credit card, which grants someone access to one account, account takeover fraud lets hackers potentially gain unauthorized access to multiple accounts.

Think about how many apps and websites—like WhatsApp, and Facebook Messenger—require phone number verification. If a hacker gains control of your mobile phone number, they can receive those verification texts, and even send or receive calls.

Syniverse enables businesses to seamlessly verify whether a high-risk event occurs for a mobile number to prevent these incidents from occurring. High risk events checked include:​

• SIM change​
  

• Number Porting​
  

• Call Forwarding

Not all activity is fraudulent, and too much customer engagement over trivial false positives can damage your customer relationships. When it comes to ATO fraud detection, accuracy is essential to creating a positive customer experience. You need to be able to maximize security without bombarding your customers with security checks at every turn.

With Account Takeover Detection we ensure you only engage your customer when necessary by differentiating between high risk and low risk threats with a configurable risk window and timestamp data.