This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
10/27/2022
Report: 24 million U.S. households have fallen victim to account takeover fraud
Venture Beat
According to a new report by SEON, around 24 million U.S. households have fallen victim to a form of account takeover (ATO) fraud in the past year. The report indicates the average successful ATO incurs a loss of around $12,000 per victim. This means that around $288 billion has been lost to this form of fraud in the last year alone.
ATO fraud happens when a criminal gains access to a genuine consumer account. It can affect anyone and any type of account, including social media, email, online banking and even credit cards. As SEON’s report highlights, attacks of this nature are becoming extremely common online, which should cause concern for businesses and consumers alike.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information