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Challenge-Response Authentication: What It Is and How to Enable It

What is challenge-response authentication and why is it useful? Challenge-response authentication refers to a set of protocols that helps validate actions to protect digital assets and services from unauthorized access. This protocol usually has two components – a question and a response – where a verifier presents a challenge to a user, who must provide a correct answer for authentication. Challenge-response protocols can be as…

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Understanding Fintech Fraud: Types, Risks, and Prevention Strategies

Fintech fraud encompasses illegal activities targeting digital financial services and technologies. From the exploitation of vulnerabilities in financial systems and applications to fraudulent transactions, phishing and fraud schemes, fintech fraud can take many forms. Types of fintech fraud What are the types of fintech fraud? Driven by the use of technology, fintech fraud continues to evolve. Some common types of fintech fraud include: Account Takeover…

Blog - Account Security

Account Takeover Attack: Is Your Bank Prepared?

In the ongoing battle between online attackers and cybersecurity teams, financial service providers are increasingly under attack as cybercriminals devise new ways to gain access to customer accounts. Massive man-in-the-middle attacks use phishing-as-a-service kit EvilProxy to target hundreds of enterprises, with a single campaign hitting 340 companies, including banks, across 48 languages last year There was a 202% increase in bots attempting to take over…

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Understanding How Adversary-in-the-Middle (AITM) Attacks Work

What is an adversary-in-the-middle (AITM) attack? An adversary-in-the-middle (AITM) attack, also known as a man-in-the-middle (MITM) attack, is a type of cyberattack where cybercriminals intercept, relay or alter the communication between two parties without their knowledge, while giving the impression of a direct communication. This can lead to data theft, identity theft, financial theft or other exploitations. In one common scenario, attackers use advanced phishing…

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What Is Account Takeover Protection

What is Account Takeover Protection? Account takeover protection is the combination of security measures and protocols used to safeguard users’ digital accounts from unauthorized access. Account takeover protection is critical in today’s fast-growing digital economy because compromised accounts can lead to financial losses, identity theft, and misuse of sensitive information. The ultimate goal of account takeover fraud prevention is to protect sensitive business and user…

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What is Account Takeover? Safeguarding against ATO

What is Account Takeover? Account takeover is an attack where bad actors use devious tactics, such as stolen customer information or credential stuffing, to gain unauthorized access to a user's online account. Once compromised, they are used as launchpads for criminal activities like identity theft, unauthorized transactions, money laundering, and more. Account takeover attacks are a serious threat to personal and financial information, and expose…

Blog - Bot Detection

Are Holiday Cyberattacks Actually Helping Your Business?

By harnessing the transformative power of holiday cyber threats, businesses can leverage adversity to fortify some of their own key areas.  Online attacks have surged by 121% from Q1 to Q2 2023, impacting e-commerce, travel, financial services, and other sectors. Despite this rise, and perhaps even because of it, businesses now have the opportunity to strengthen key areas of the enterprise like threat intelligence, compliance, and…

Blog - Account Security

Game-Changer: “Solver Services” Help Fraudsters Bypass CAPTCHAs

A new paradigm is emerging with the advent of "solver services" utilizing advanced solver bots. These automated systems are reshaping the landscape of CAPTCHA dynamics, the traditional game of distinguishing between humans and bots. CAPTCHAs, designed with challenges like distorted text and image recognition, play a crucial role in online bot security. Nevertheless, solver bots have been crafted to adeptly navigate these obstacles, introducing a…