How Account Takeover Scams Are Outsmarting Fraud Detection Systems
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. The Evolution of Account Takeover Scams Account takeover scams are not new, but their sophistication has increased significantly in recent years. Attackers no longer rely on brute-force attacks or simple phishing emails. Instead, they use a combination of social engineering, credential stuffing, and advanced persistence techniques to gain unauthorized access to user accounts. ...