Since the early stages of the pandemic, account takeover fraud (ATO) has significantly transformed, quickly becoming one of the fastest-growing cybersecurity threats with 22% of adults in the US falling victim to this attack.
With new user fraud, synthetic ID, IRSF and promo abuse increasing rapidly, the new avenues for account takeover have turned this scheme into a beast that feels unstoppable. On top of that, ATO fraud can negatively impact real customer relationships, as those who fell victim to them spent, on average, 60 percent less in the year following the takeover.
In this Help Net Security video, David Fletcher, SVP at ClearSale, discusses how an effective fraud prevention strategy can force fraudsters to invest more in the attack, making it less attractive to exploit and ultimately change the ROI of ATO.