Fresh New Success Stories for Spring
It’s springtime, and NuData is thrilled to deliver fresh new success stories showing how our clients are pulling out the weeds! In the midst of the out-of-control growth of account takeover (ATO), new account fraud (NAF), and loyalty fraud we’re all seeing, we thought you’d like to hear a few examples of how our clients successfully mitigate millions of USD in losses and potential criminal transactions.
- Loyalty abuse: The merchant was hit with a sophisticated fraud scheme involving automated attacks against its loyalty program. Learn about how the fraudsters attempted to defraud the merchant of millions of dollars with tiny transactions that were below their review threshold and save close to $1.5 million dollars in fraud costs.
- Account takeover attack: A high volume brute force attack placing 1200 orders across several channels and hundreds of accounts were discovered and mitigated using behavioral biometrics technologies saving just under $1 million in this one attack alone.
- Account creation attack: Automation that creates new accounts can be used to test the validity of accounts and create accounts to be used for future fraud. NuData recently thwarted a large-scale attack then a week later the attackers struck with a second attack involving close to 6 million accounts.
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