In today’s increasingly digital economy, businesses face significant risks from account fraud and attacks. These attacks can be complex and take many different forms.
Businesses must implement multi-layered attack prevention strategies that use a combination of techniques to reduce fraud risks.
Six key methods, or best practices for mitigating account fraud attacks include:
- Identity Proofing: Ensure that users are who they claim to be by using identity verification methods at the time of account creation and periodically after account activity. Identity proofing can end up being expensive at scale, but combining this with effective behavioral intelligence solutions can mitigate the costs and optimize user experience.
- Credential Intelligence: Databases of previously compromised credential data can be shared across platforms and security providers to help protect accounts exhibiting a high probability of compromise before an attack or fraud occurs.
- Device Intelligence: Use device fingerprinting to track device history and reputation, ensuring that potentially fraudulent devices are flagged before they can be used in an attack.
- User Behavioral Analysis: Monitor user activity to detect unusual patterns, such as logging in from unfamiliar devices or locations. Fraud detection and prevention platforms that leverage AI for behavioral analysis can increase efficiency and effectiveness.
- Behavioral Biometrics: Analyze how users interact with devices (keystrokes, mouse movements) to detect signs of fraudulent activity.
- Bot Detection and Management: Detect, manage and mitigate bot traffic, discerning between legitimate and malicious automated requests.
With the acceleration of attacks and the ease of entry for new criminals, it is more important than ever for organizations to remain alert and implement effective fraud prevention strategies.
For more information on the future of fraud attacks including the top three attacks to watch in 2025, be sure to access the most recent Account Fraud & Attack Trends Report: The Three Most Critical User Account Attacks to Stop in 2025 today.
