Account Takeover Fraud: The Problem and Solution

Account takeover (ATO) fraud was the top fraud scam of 2021, according to Feedzai’s Q2 2022 Financial Crime Report. In this particularly troublesome type of identity theft, a fraudster takes control of a legitimate customer’s bank or online merchant account to transfer money, steal sensitive information, or make purchases with the victim’s payment cards.

Download the infographic to learn:

• How U.S. losses from identity theft (including ATO) are projected to reach $635.4B by 2023;
• The different actions that fraudsters take after gaining access to a customer’s account;
• How 38% of ATO victims closed their bank accounts after experiencing fraud;
• 3 steps banks can take to prevent ATO fraud.