Sift Science releases account takeover prevention tool
Sift Science has added a tool to its suite of machine learning tools to detect account takeover (ATO) and fight fraud. (Image: Sift Science)
Account takeover (ATO) is the downstream effect of a worrying rise in massive data breaches and phishing attacks. Criminals have easy access to billions of credentials, which they systematically test on sites and apps until they find a match.
With 48 percent of online businesses experiencing a rise in ATO attempts in 2016, are you doing enough to prevent your users’ accounts from being hacked?
ATO is on a steep rise. In 2016, 554 million records were compromised in the first half of the year. ATO losses reached $2.3 billion in 2016, a 61-percent increase from the year before.
ATO naturally spikes following data breaches, as fraudsters can reuse stolen login information to takeover other accounts of hacked users. And 59 percent of online users reuse login information, which makes them easy ATO targets after a data breach….