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ATO Frauds - Account Security, Data Safety & More!

Fraud mitigation in the Lend-tech and Banking Sector has always been intricate and continuously advancing. Fraudsters are notoriously known to constantly up their game when it comes to underhanded exploitative measures and searching for loopholes in technology, to defraud both the system and its consumer base. Consistently updating systems, tightening safety measures and proactive monitoring may seem extreme to some, but it is a necessary routine in this industry. As is said, in this perpetual cat & mouse chase, the mouse never rests - because the cat is never far behind. 

One such fraudulent practice that has become increasingly common over the past few years is Account Takeover (ATO) Fraud. This is a case of widespread account and data misuse, and mishandling or theft of funds & information, or both. These account activities are completely unauthorized by the owner of the account as well as the banking/financial establishment. This type of fraud has occurred since the dawn of systemic financial transactions - however, following digitization, fraudsters have adapted seamlessly and are ruthlessly conducting their scams in the cyber-space of finance.

ATO frauds involve personal credential theft and manipulation - this withholds account access from the owner. Fraudsters operate under the guise of a legitimate user, to stay under the radar of financial institutions. 

Banks and other financial institutions need to anticipate the probability of fraudulent practices in order to effectively prevent them - by spotting and responding to potential indications, in a timely manner. To stay two steps ahead of fraudsters at all times, a regularly updated, AI powered & highly adaptable, self-learning automated system of security management must be employed. The capacity to swiftly convert data hints into recognizable insights that can be used to make split-second choices is what sets a business apart, with good results in critical fraud management techniques.

Stay two steps ahead of ATO frauds with ENCORE 360° - our flagship product suite put together by Sensei Technologies, a one-stop integrated API solution that is risk-free and RBI compliant. We work to fully automate and digitize every step involved in the lending process - focusing on applying risk mitigation, robust fraud-recognition and innovative data security in the cyber-financial space. We make sure that, as a company & as an individual, your data and money is confidential, and will continue to stay that way!