The financial losses experienced by banks and credit unions due to account takeover (ATO) continue to grow at an alarming pace despite broad adoption of stronger authentication and fraud prevention controls. According to a 2013 study, ATO fraud losses have increased 69 percent annually, accounting for more than $4.6 billion in direct financial loss.
ATO|Prevent goes beyond common anti-fraud controls to actively fight against the cybercrime attacks that lead to ATO fraud. The comprehensive service proactively detects and stops ATO attacks across all customer financial transaction channels including web, email, voice, and mobile. ATO|Prevent then aggressively mitigates and disrupts the underlying cybercrime operations that make it easy for fraudsters to profit at the expense of banks and credit unions.
Protect against all account takeover attacks.
Reduce losses due to online fraud.
Get more out of your IT budget.
Email, web, voice and mobile channels are all used by cybercriminals to exploit customer trust and hijack accounts. ATO|Prevent delivers comprehensive protection across all of these channels, providing around-the-clock detection and mitigation of:
Developed exclusively for banks and credit unions, ATO|Prevent is a comprehensive, fixed-price solution that reduces account takeover and fraud losses at an affordable and predictable cost. Regardless of how many attacks target your customers, your cost stays the same with this security awareness training and result.
ATO attacks disrupt operations and increase support overhead. By aggressively stopping attacks, ATO|Prevent allows your staff to stay focused and get more done. Additionally, ATO|Prevent facilitates compliance with fraud prevention guidance, helping institutions more easily satisfy regulatory requirements. Financial institutions have been beefing up online banking controls since the FFIEC issued their Supplement to Authentication in an Internet Banking Environment back in 2011. But it has failed to stem the ATO tide.
* Vishing and SMiShing coverage available in the U.S. only.