Account takeover (ATO) fraud evolves so rapidly that reacting after the fact is as effective as doing nothing at all. Ongoing economic disruption exposes new weaknesses for fraudsters to exploit, driving ATO rates up across businesses and industries. And ATO fraud can lead to damaging consequences, including stolen funds, shrinking customer lifetime value, inflated acquisition costs, and ultimately, lower profits.
Highlights
Which industries saw the most significant rises in account takeover fraud across the Sift network
How often users fall victim to ATO and the various ways it costs businesses and weakens consumer trust
Details of a new iteration of the classic cashout scam, where fraudsters work together to access and drain value from exposed bank accounts
Why trust and safety teams must adopt an end-to-end, real-time approach to outpace evolving abuse
