Boston, June 25, 2019 – ATO fraud is a peculiar and unsettling form of attack, and one that has evaded a standardized definition. It inspires fear mainly because it is becoming increasingly clear how difficult it is to accurately detect and prevent these attacks, especially when the adversaries have so many resources to help them overcome the fragmented and disconnected identity proofing controls that most financial institutions rely on as countermeasures.

This report traces the trajectory of ATO tactics from their origins to their most recent manifestation and places an emphasis on the characteristics of the latest trends in attack patterns observed in the U.S. It is based on the author’s past experiences as a fraud strategist for a top 20 U.S. bank and as a member of banking industry working groups on fraud, and it is informed by ongoing conversations with fraud executives in the industry.

This 18-page Impact Report contains four figures and one table. Clients of Aite Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.