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ReadersSpeak
Account takeover remediation 2. Use specialized data services that identify and
match user credentials that are at-risk for account
ichael Boukadakis, CEO of takeover due to breached data exposures: Matching
ENACOMM, sent us sober- logins against confirmed, exposed data is the most
ing data on account take- sustainable solution in stopping account takeovers for
M overs (ATOs). "ATOs—iden- organizations and long-term for all industries. This
tity theft where a criminal gains unau- method not only helps isolate fraudsters but will also
thorized access to an online account belonging to some- help build cases for future prosecution to get criminals
body else—spiked by almost 282 percent from Q2 2019 "off the street."
to Q2 2020 and increased by almost 300% during the 3. Monitor bot traffic behavioral patterns for ab-
pandemic, according to the Sift Digital Trust and Safety normalities for temporary attack relief: This type of
Index," he wrote. monitoring postpones bots from revisiting an organi-
zation's site with reconfigured, masked attributes or
Boukadakis also mentioned that thePayments Risk & pushes them to move to another site, which unfortu-
Fraud Consortium, of which ENACOMM is a founding nately perpetuates the cycle of attacks on all industries.
member, just released a whitepaper, 3 Tips to Avoid Account
Takeover: Modern Detection & Prevention, which identifies The whitepaper is available at www.fraudconsortium.org/3-
pre-fraud indicators and measurements that are essential tips-to-avoid-account-takeover.
in reducing account takeover fraud.
Tips to share?
Following is a brief summary he provided of those tips: We wish to thank Michael Boukadakis for reaching out. Do
1. Layer fraud prevention solutions to easily pivot you have advice or insights to share with your colleagues in
in light of the latest fraud patterns: There is no one the payments community? Why not sound off right here?
solution that will solve all fraud issues. To add to the In 300 words or fewer, explore salient issues, concerns
challenge, criminals constantly devise new methods of and opportunities, and you might see your byline on this
attack or resurrect their old favorites with new twists. page. We will welcome your perspectives, as well as your
questions, at greensheet@greensheet.com.
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