Stop calling it account takeover “fraud”

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A few years ago, when it started to become clear that account takeover (ATO) was becoming a threat, it was understandable that it was seen as a fraud problem. After all, the identity theft inherent in taking over a user’s account does, on some level, amount to fraud. But as the ATO problem has grown, impacting nearly every online business, it’s become clear that we need a mindset shift in how we...

How we updated our risk engine to stop “slow and low” password list attacks

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In the last six months, we’ve seen an evolution in how attackers are launching password list attacks, which in turn is impacting how best to fight these attacks. It’s become easier than ever to obtain ranges of hundreds of IPs, which makes it possible to masquerade traffic as coming from multiple different sources. Similarly, many of these IPs are registered in the United States. Taken together...

3 things anti-fraud tools need to do to effectively prevent account takeover

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Many operators in the anti-fraud space are experts at flagging the fraud that stems from credit card chargebacks, fake account registration, and spam posting. Unfortunately, their focus on individual user actions doesn’t address one of the fastest-growing forms of fraud, account takeover (ATO). ATO presents a fundamentally different problem than traditional fraud, which means it requires a...

We shouldn’t focus on changing user behavior—but on understanding it

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The state of online identity is bleak—mostly because it relies on an outdated username and password model. Each year, 1 billion credentials are leaked or breached, and 73 percent of passwords are being reused across sites. These dynamics have led to an increase in account takeovers (ATOs), in which a hacker tries stolen credentials across a variety of websites and takes over entire accounts to...

Passwords, watch out!

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Six months ago we graduated from Y Combinator, which was by far the most fun and intense passage of our startup lives. After Demo Day we decided to dedicate the coming six months to full-on focus. We dedicated the radio silence to onboarding and learning from customers, finishing a 1.0 release, and building out our team in San Francisco. Today, we are proud to announce our 2 million dollar seed...