Account takeover (ATO) fraud was the top fraud scam of 2021, according to Feedzai’s Q2 2022 Financial Crime Report. In this particularly troublesome type of identity theft, a fraudster takes control of a legitimate customer’s bank or online merchant account to transfer money, steal sensitive information, or make purchases with the victim’s payment cards.
Download the infographic to learn:
- How U.S. losses from identity theft (including ATO) are projected to reach $635.4B by 2023;
- The different actions that fraudsters take after gaining access to a customer’s account;
- How 38% of ATO victims closed their bank accounts after experiencing fraud;
- 3 steps banks can take to prevent ATO fraud.