How Account Takeover Scams Are Outsmarting Fraud Detection Systems
Visual Overview: graph TB subgraph "Authentication Methods" Auth[Authentication] --> Password[Password] Auth --> MFA[Multi-Factor] Auth --> Passwordless[Passwordless] MFA --> TOTP[TOTP] MFA --> SMS[SMS OTP] MFA --> Push[Push Notification] Passwordless --> FIDO2[FIDO2/WebAuthn] Passwordless --> Biometric[Biometrics] Passwordless --> Magic[Magic Link] end style Auth fill:#667eea,color:#fff style MFA fill:#764ba2,color:#fff style Passwordless fill:#4caf50,color:#fff Account takeover (ATO) scams have become a persistent threat to financial institutions and their customers. While banks and fintech companies invest heavily in fraud detection systems, attackers are continuously evolving their tactics to bypass these defenses. This blog explores how ATO scams are outsmarting traditional fraud detection mechanisms and what financial institutions can do to stay ahead of these threats. ...