so too does the overall application attack surface. Attackers use powerful AI/ML frameworks, tools, and techniques to automate attacks and compromise customer accounts—leading to stolen personally identifiable information (PII), account takeover (ATO), and to increasing online fraud. Juniper Research estimates online fraud losses will exceed $48 billion per year by 2023.
In response to the changing threat landscape, and to combat increasingly sophisticated attackers, security and fraud teams have deployed an arsenal of anti-fraud solutions. Unfortunately, ATO fraud losses continue to rise, as sophisticated attackers defeat traditional fraud detection approaches.
Costly operational complexity :
Layered fraud detection solutions create complex operations, causing stress, inefficiency, and high cost. Most of these solutions also require time-consuming tuning and maintenance, and often require multiple reviews due to high false positives rates.
Finding balance between protection and customer experience :
Revenue is the top business priority—and it can be negatively affected by the friction that fraud controls create. Customers may lose patience or interest when countered with identity and authentication controls such as multi-factor authentication (MFA), knowledge-based authentication (KBA), CAPTCHA, and more.
Real-Time Fraud Detection with a Fully
Managed Closed-Loop Solution
Reducing online fraud against web and mobile applications is difficult. Despite
implementing numerous fraud tools, most enterprises still lose millions annually to fraud. Worse, fear of fraud also causes organizations to impose burdensome friction on legitimate users. F5® Distributed Cloud Account Protection (XC Account Protection) gives fraud teams a new and powerful solution to detect and eliminate online fraud, without compromising the user experience. Block fraud, slash friction, and reduce fraud prevention team’s workload Distributed Cloud Account Protection is a closed-loop engine that blocks fraud in real time. It detects and stops account takeover, malicious account creation, exploitation of stolen accounts, and other fraudulent activities. In production Fortune 500 environments, Distributed Cloud Account Protection identifies 2-5 times more fraud per month than current solutions, while maintaining false positives at pre-existing baseline levels.
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