Michael Boukadakis, CEO of ENACOMM, sent us sobering data on account takeovers (ATOs). "ATOs—identity theft where a criminal gains unauthorized access to an online account belonging to somebody else—spiked by almost 282 percent from Q2 2019 to Q2 2020 and increased by almost 300% during the pandemic, according to the Sift Digital Trust and Safety Index," he wrote.
Boukadakis also mentioned that thePayments Risk & Fraud Consortium, of which ENACOMM is a founding member, just released a whitepaper, 3 Tips to Avoid Account Takeover: Modern Detection & Prevention, which identifies pre-fraud indicators and measurements that are essential in reducing account takeover fraud.
Following is a brief summary he provided of those tips:
The whitepaper is available at www.fraudconsortium.org/3-tips-to-avoid-account-takeover.
We wish to thank Michael Boukadakis for reaching out. Do you have advice or insights to share with your colleagues in the payments community? Why not sound off right here? In 300 words or fewer, explore salient issues, concerns and opportunities, and you might see your byline on this page. We will welcome your perspectives, as well as your questions, at firstname.lastname@example.org.
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