Solutions – Account Takeover Case Study
Providing a real-time customer liveness check that allows you to check which mobile numbers are no longer active
Read case study >Addressing the escalating threat of account takeover fraud through advanced mobile insights
Account takeover (ATO) fraud has become a significant challenge for both individuals and organisations. In 2023 alone, ATO fraud resulted in nearly $13 billion in losses, up from $11 billion in 2022. This unauthorised access to accounts enables fraudsters to conduct fraudulent transactions, steal sensitive information, and cause substantial financial and reputational damage
Cybercriminals continually adapt their methods to exploit vulnerabilities in digital security. In 2024, 99% of monitored organisations were targeted for account takeovers, with 62% experiencing at least one successful breach. These incidents often stem from compromised credentials obtained through data breaches, phishing attacks, and malware, highlighting the need for robust security measures
Despite technological advancements, human behaviour remains critical to account security. Studies show that only 16% of individuals create passwords over 12 characters long, and 36% use unique passwords half the time or less. This underscores the importance of educating users on best practices and implementing systems that can detect and respond to suspicious activities in real-time
The typical victim of an account takeover loses about $180, with 40% also experiencing identity theft as a consequence
On average, it takes 11 months to resolve a breach caused by stolen credentials, including 240 days to identify the breach and another 88 to contain and resolve it
Only 16% of individuals create passwords over 12 characters long, and 36% use unique passwords half the time or less, highlighting vulnerabilities in personal account security
Verify confirms that the mobile number associated with an account is valid, active, and matches the user’s provided identity details. This helps prevent unauthorised access by ensuring that only legitimate users can initiate account activities
Talk to a Verify expert > Learn more about Verify >
Score evaluates mobile numbers in real-time, identifying signs of suspicious activity and fraud risk. By assessing factors such as recent SIM swaps or device changes, Score aids in detecting potential account takeover attempts before they succeed
Talk to a Score expert > Learn more about Score >
Authenticate enables seamless login verification for returning users by leveraging mobile network signals, reducing reliance on weak passwords and vulnerable SMS OTPs
Talk to an Authenticate expert > Learn more about Authenticate >
A global marketplace needed a way to verify buyers and sellers across multiple countries while minimising fraud and ensuring a seamless user experience. Their solution required accurate intelligence and real-time identity verification
