Graph-centric Fraud Prevention: From Trusted Account Opening to ATO Fraud Protection

Knowledge based authentication
Operational Resources
Account Takeover
Identity Fraud
Identity Theft
Socure, Moneygram
Apr 01, 2022

Most eCommerce authentication systems don’t verify identity at login. This is problematic, because when credentials get hacked or stolen, merchants can't see who is operating behind a legitimate login. Unfortunately, biometrics can also be hacked and stolen, or associated with rogue users who have compromised accounts.

This is why the need for identity assurance is paramount.

This informative presentation highlights how people commit ATO fraud, and how identity-based authentication and NIST 800-63-3 and FIDO2 standards can be used to counteract these attempts.

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Related Resources

Mar 07, 2023
From Fraud To Trust: A Better Approach to Digital Identity Verification

The dramatic shift to online shopping means retailers see their customers less than they ever have. Additionally, with daily data breaches and lax password security, account credentials are readily available for purchase.

This is a boon to fraudsters looking to pose as legitimate customers. So good in fact, that from 2019 to 2021, identity theft increased 81.8% globally. For too long, organizations have played defense and responded to suspicions of fraud reactively. It’s time to start establishing digital trust with customers early in the journey, just like retailers would do in the day when they knew their customers personally.

Identity is at the root of all fraud. Merchants that can safely trust their customers' identities will reap the benefits. First, they can greatly reduce the impact of fraud on the business. Second, they have more—and better—data for reducing customer friction, increasing loyalty and targeting sales or marketing efforts more effectively.

So how can merchants know for certain a customer is who they claim to be?

Traditional identity verification (IDV) solutions validate some customer attributes, but these are no longer enough to establish trust. To establish that an identity can truly be trusted, it’s imperative to take a more holistic look and verify the connections between that data and the person claiming to be a customer.

Professional fraudsters can try to impersonate legitimate customers, but they can’t create trusted identities. Even synthetic identities fail when exposed to this scrutiny.

This is why trusted identities offer a safer approach to IDV. By identifying trust, the company focuses less on behaviors and more on the individual making purchases.

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