Combating Costly Account Takeover: the Fastest Growing Threat in Fraud

Account takeover attacks (ATO) are in many ways the driver of the wider fraud ecosystem. Compromised accounts are leveraged in downstream fraud with more sophisticated and costly attacks. The economic impact of fraud goes beyond just the immediate costs of remediating the attack. There are many ancillary costs of failing to stop these attacks as well, such as impacting customer loyalty, negative brand association, negative news headlines and more. In this session, we'll examine how effective fraud prevention prevents immediate and downstream costs. With the proliferation of apps that have adopted anti-bot technologies such as Shape Enterprise Defense, attackers are finding it difficult to identify soft targets. Instead of expending resources in an attempt to circumvent anti-automation technologies, fraudsters are pivoting and attacking unprotected email servers that become the steppingstone to the ultimate goal: your customer accounts. This, in turn, has resulted in a change in the credential marketplace landscape. Shape Security has been protecting our customers from automated attacks for years and has observed that fraudsters are left with no option but to revert to manual (i.e., human-driven) fraud methods. For this reason, we've developed machine learning models that protect our customers applications.