Account Takeover (ATO)
The #1 attack type for banks, financial ATO is a frequent starting point for identity theft. It drains your customers’ life savings, acts as a conduit for application fraud, and sets up heinous downstream crimes like money laundering.
202%
Increase in bots attempting consumer financial ATO
Man-in-the-Middle (MITM) Attacks
Phishing often is a precursor to man-in-the-middle attacks, some of the most serious threats banking security teams face today. MITM attacks are especially dangerous because they allow bad actors to bypass multi- factor authentication (MFA) security measures.
27.7%
Of all phishing attacks target banks
New Account Fraud
Failure to stop new account fraud can drive up expensive KYC processes and systems that degrade website performance, gobble up resources, and divert your attention away from enhancing the consumer experience.
164%
Increase in bots attempting to establish fake new bank accounts.
SMS Toll Fraud
SMS-based two-factor authentication (2FA) creates a major vulnerability as fake account sign-ups rack up massive charges via premium-rate SMS verifications. Attackers collude with rogue telecoms to split the profits, leaving your financial institution to foot the bill.
22x
rise in total SMS toll fraud attacks from Q2 to Q3 2023.
How Arkose Labs Puts the Puzzle Pieces Together
Protect your consumer login while delivering a great experience. Bots attacking the login and registration flows pose a substantial threat to your bank because they execute at scale, operate at high speed, and mimic human behavior to evade detection – and they make up an estimated45% of your financial institution’s online traffic.
Arkose Labs delivers long-term bot mitigation and account security by increasing effort and costs to successfully attack, undermining the economic drivers behind cybercrime. We help the world’s largest banks defend the most targeted user touch-points – account login and account registration – by uncovering hidden attack signals and sabotaging attackers’ ROI without sacrificing good user throughput.
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