Management discussing account takeover fraud prevention

ACCOUNT TAKEOVER FRAUD PREVENTION FOR LENDERS

The defi Team Banking, defi INSIGHT, Fraud

In an account takeover, an individual or well-organized cartel obtains access to a consumer’s account, changes login credentials or personal data, then makes unauthorized transactions using that account. Unauthorized purchases, transfers of funds, and cancellation of payments can quickly lead to financial ruin for the consumer and reputational damage for the business that failed to prevent it.