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Account Takeover Fraud

How do you know when a customer profile change is legitimate? Each year, more than 35 million Americans change addresses, but now fraudsters are using other customer information channels – including email and telephone – to perpetrate account takeover.

Screening non-monetary transactions, specifically those that involve changing customer communications credentials such as mailing address, phone number and email address, can help thwart potential account takeover attempts.

When examining non-monetary transactions, consider discrepancies in:

  • Address changes, specifically out-of-pattern moves
  • Phone changes, including area code disparities
  • Email changes, particularly when top-level domains don’t match customer profiles

ID Insight created the industry’s first comprehensive address verification solution – Safe2Change – to screen customer profile information changes for fraud and compliance purposes. Today, our scoring algorithms examine billions of identity, geo-demographic and behavioral data points to detect fraudulent customer profile changes instantly.

ID Insight helps thousands of financial institutions worldwide implement tailored solutions that detect and prevent account takeover fraud attempts before losses occur.

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