
Mobile communications are a key tool for brands to engage and authenticate their customers. However, not all brands have the layers of security necessary to protect their customers and prevent fraud loss. Mobile phones can be exploited through social engineering, allowing fraudsters to hijack phone numbers and impersonate customers. It is essential for businesses today to have the proper preventative solutions in place to avoid fraudulent incidents, such as SIM swap, SIM jacking or porting fraud.
Syniverse offers a solution called Account Takeover Detection that identifies and protects businesses and their customers by detecting account takeover fraud early. Accurate and secure account takeover fraud detection is one of the many ways we provide end-to-end protection for communications and connectivity.
A fraudster tries to purchase an item online by impersonating a customer. He has acquired all the personal information needed to pass through the typical security and authentication measures. However, ATO Detection detects that the transaction is coming from a different SIM and malicious activity may be occurring. Instead of allowing this transaction to occur, ATO Detection enables the business to take further action.
Unlike a reactive fraud detection system that alerts customers after unauthorized transactions are completed, our proactive approach prevents loss and reduces customer headaches.