Account Takeover

Account Takeover Fraud is when a fraudster or criminal poses as a genuine customer to gain control of an account. They can then make unauthorized transactions, access personal data, or lock the legitimate user out of the account and demand a ransom for restoring access.

Account takeover fraud can have a very personal and often devastating impact, including theft of substantial amounts of money, preventing access to benefits or services, and causing poor credit scores until the matter is resolved.

Around 22% of US adults have fallen prey to account takeover fraud scenarios, costing an approximate average financial loss of almost $12,000.  

Account takeover – also known as account hijacking – can be prevented if criminals are unable to gain access to people’s accounts. Face biometric authentication helps to combat account takeover fraud by ensuring that only the genuine account owner can access their account.

Learn More About Account Takeover Fraud

Article: Account Takeover Fraud – What Is It and How Can You Prevent It?