[Infographic] Breaking Down the Fraud Flow of Account Takeover

Fraudsters are becoming harder to stop every day. Fraud fighters are overwhelmed with the onslaught of sophisticated
attacks.

The main pain? Undetected Fraud.

Popular fraud prevention strategies rely on (fraud prevention) tools that use static, historical data that are tied to a specific action in the customer journey, usually the checkout. Yet, fraudsters are not targeting vulnerabilities in your security defenses, they are exploiting gaps in your business model. Ultimately detection happens after the fact, and the damage is already done. 

eBook: Breaking down the fraudster's journey of an account takeover attack

The Fraudster's Journey

In order to understand the flow of the fraudster's journey, we will break it down into different stages. In this particular example, we will explore an account takeover attack, and approach the fraudster's journey accordingly. The 3 stages of an account takeover attack are: 

  1. The login
  2. The session
  3. The checkout

Account Takeover vs Popular Tools

With more than 15 billion username & password credentials estimated to be available on the dark web, there is no telling where fraudsters will hit next. The main difficulties with popular tools are:

  • They sit at the payment stage, sometimes also the login, leaving an unguarded gap full of opportunities for fraudsters to exploit 
  • The use of static and historical data means that you're only looking at what you do know. And that's not where the next threat is coming from
  • The level of granularity in the data collected does not account for the advanced nature of evasive techniques that fraudsters are employing
  • Too much focus is put on finding  a solution rather than identifying the source of the problem

Using Behavioral Biometrics to Detect Account Takeover 

Using Behavioral Biometrics allows fraud mitigation to being the moment a new session starts and continuously gather behavioral data throughout the customer journey. This allows it to close the gap(s) that are otherwise being overlooked by other solutions. It can differentiate between human and non-human behaviors and identify behavioral anomalies to flag suspicious activities in real-time. Take a deeper dive into how this can work in the infographic below:

  • The uppermost section details what Behavioral Biometrics is capable of identifying at each stage
  • The middle section illustrates the different tactics fraudsters will use at each stage
  • The lowest section shows the popular tools that are currently being used at each stage

The Fraud Flow of Account Takeover - SecuredTouch Infographic

Get deeper insights into the flow of the most advanced and sophisticated fraud use cases in our eBook: Breaking Down Fraud Flows - Untangle the Mess of The Most Pervasive Use Cases. 

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