Infographic: Account Takeovers Wreaking Havoc In Financial Services

Learn how banks, money transfer companies, and P2P payment apps can protect themselves from digital account takeovers in this account security infographic.

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Infographic: Account Takeovers Wreaking Havoc In Financial Services

Not to worry! There are several steps financial service businesses can take to save money, protect reputations, secure customer data, and retain customer trust.

The infographic highlights a number of crucial trends and facts that financial institutions of all kinds should consider, including:

  • A recent 260% jump in fraudulent new account creations and a 182% jump in account takeovers.
  • A predicted loss of $25.6 billion by 2020 due to damaged reputations, disrupted revenue, and IT and security spending to combat the rise in account takeovers.
  • $4 of every $1,000 in online payments will be fraudulent by 2020.
  • ATOs & identity theft to cause 1.5% of finance services revenue loss.
  • A spike in automated bots applying for fraudulent loans
  • Existing financial accounts will be targeted and hijacked to transfer money overseas.

Download our infographic for our perspective on how financial services can secure themselves against growing ATOs threats.

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