The financial losses experienced by banks and credit unions due to account takeover (ATO) continue to grow at an alarming pace despite broad adoption of stronger authentication and fraud prevention controls. According to a 2013 study, ATO fraud losses have increased 69 percent annually, accounting for more than $4.6 billion in direct financial loss.
ATO|Prevent goes beyond common anti-fraud controls to actively fight against the cybercrime attacks that lead to ATO fraud. The comprehensive service proactively detects and stops ATO attacks across all customer financial transaction channels including web, email, voice, and mobile. ATO|Prevent then aggressively mitigates and disrupts the underlying cybercrime operations that make it easy for fraudsters to profit at the expense of banks and credit unions.