Security News > 2020 > July > Accertify Digital Identity: Addressing the rise in fraudulent online account openings and takeovers

Accertify announced the launch of a new solution designed to help organizations address the significant rise in fraudulent online account openings and account takeovers.

Fraudulent account openings, using stolen or fake names and information to open an account, and account takeovers, defined as unauthorized access to accounts, are two types of identity theft that are concerningly on the rise.

Of the fraud losses from identity theft in 2019, account takeovers trended at the highest loss rate, up 72% from the prior year.1 Moreover, with the severe decline in travel due to Covid-19, consumers may not be checking their loyalty points, rewards and mile accounts as often, making them a more attractive target for account takeover attacks.

"By pairing Accertify Digital Identity with our fraud and chargeback management products, we have the first end-to-end protection that helps organizations defend the entire customer digital journey - from account opening, to login, account activity, purchases and chargebacks."

Accertify Digital Identity analyzes billions of data points using machine learning, advanced behavioral analytics and device intelligence technology to calculate a trust score and associated reason codes for account activity in near real-time to help prevent fraud loss.

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