Retail Week features Risk Ident on fighting account takeover fraud
The UK’s leading retail trade magazine, Retail Week, provides an expert advice section each week, entitled “Retail Surgery”. In September it featured the leading insights of our CEO, Roberto Valerio, addressing the very serious problem of account takeovers.
In his interview with Retail Week, Roberto issues important guidance for online retailers on how to identify and prevent account takeover fraud:
Signs of account takeover can include conspicuous behaviour during the login process, like an unusual number of failed attempts, or a password change followed by unusual customer behaviour.
It could also feature deviating behaviour like unusually expensive or high-volume purchases. If login attempts are detected from different devices, browsers and places, or if purchasers are trying to conceal their location, these can also be warning signs of potential account takeover fraud.
Roberto highlights that the problem lies in fraudsters constantly changing their strategies and trying out new methods, advising that “machine learning technology, based on developing computer programs, recognises patterns and regularities in datasets, and is then able to learn from that, continually creating new models and better, constantly evolving algorithms that help retailers stay a step ahead of the fraudsters.”
To read the full Retail Week article, click here.