FraudNet for Account Takeover is a comprehensive fraud management application designed to provide early warning of account takeover activities – often before a fraudulent transaction has taken place.
FraudNet for Account Takeover utilizes 41st Parameter’s unique device recognition technology to pinpoint criminals’ devices and track their activities. Unlike other approaches, which take an isolated look at individual accounts to assess the suspiciousness of an activity, FraudNet for Account Takeover is able to track a fraudster’s activities across multiple unrelated accounts.
41st Parameter has been protecting online retail and commercial bank accounts against account takeover attacks for years and FraudNet for Account Takeover and has also proven effective for airline customers, as loyalty account balances become even more lucrative targets. Account Takeover phishing attacks are on the increase against all carriers and the first instances of “malware for miles” deals that barter stolen air miles for stolen credit cards or botnet rentals are now appearing in the press.