“For us, ATO has ebbed and flowed over time,” reports Jamon Whitehead, senior manager of risk and payment operations at outdoor clothing and equipment retailer Backcountry.com. “We’ve seen periodic spikes then long valleys of no real significant account takeover attempt volume until 12-to-16 months ago. Since then we’ve seen fairly steady attempt volume with varying levels of success.”
As veritable oceans of stolen usernames and passwords become available for sale and mobile develops into the preferred method of accessing the Internet, e-commerce businesses large and small are reporting increases in a new scourge. Account takeover and account creation fraud are on the rise. They are particularly insidious because, after hijacking an account using a valid password fraudsters have access to what merchants believe is an authenticated payment method—making them very difficult to defend against.
Read this white paper for CardNotPresent.com editor DJ Murphy to better understand account takeover fraud and the options merchants and payments companies can use to protect themselves and their customers this new scourge.