Digital Trust & Safety Roundup: Rising ATO, new product updates, and Sift recognition
In this month’s Digital Trust & Safety Roundup, we highlight the most recent ATO data from Sift’s Q3 Index report, explore the latest product integrations and capability enhancements, and share Sift’s recent industry and customer recognition. Read on for the latest news fraud findings from Sift.
Account takeovers skyrocket
Nearly one in five consumers recently surveyed by Sift have experienced account takeover (ATO) attacks, with 62% of those taking place in the past year. The prevalence of these types of attacks is supported by Sift’s latest Q3 Digital Trust & Safety Index findings which reveal a staggering 354% year-over-year increase in ATO in Q2 2023 across Sift’s global network.
While AI has been a hot topic in the fraud prevention industry, it’s automation that’s still driving the speed and scale of many of these attacks, with the sale of bots that provide ‘ATO-as-a-Service’ for purchase on the deep web.
“Fraud becomes as sophisticated as the technology being used to commit it,” says Rebecca Alter, Trust and Safety Architect at Sift, “and increasingly innovative types of automation pose a threat to merchants that aren’t ready to match its speed or account for its accessibility.”
Explore more highlights from the report in VentureBeat.
Sift’s newest integrations and automation capabilities
With fraudsters collaborating and networking across borders as part of a full-fledged Fraud Economy, Sift is committed to expanding its risk management capabilities to a wider network of fraud fighters. The most recent example of this effort is Sift’s new Dispute Management integrations with PayPal and Adyen, two of the largest payment processors globally. With the combination of Sift’s Dispute Management and Payment Protection solutions, users can improve the overall payment experience and reduce potential fraud or disputes for their customers.
“Sift Dispute Management has made it faster and easier to respond to chargebacks. Effective integration between Sift, our payment processor, and our own internal tools has improved a once labor intensive process into an efficient, automated system,” said Taylor Snyder, Manager of Risk & Compliance at online bill pay company, Doxo.
Read more in PYMNTS.
More industry and customer recognition for Sift
Following the recognition as a ‘Leader’ in the latest Forrester Wave report, Sift also earned accolades from Marketplace Risk and G2.
Sift was recognized as one of the top fraud prevention and chargeback management solutions by Marketplace Risk’s Solution Provider Excellence program, which is intended to help marketplaces and digital platforms in selecting solution providers with a proven track record of success.
G2, the largest and most trusted software marketplace, released their Fall 2023 Reports revealing Sift as the only fraud solution provider to have earned Leader status in all three key fraud prevention categories: Fraud Detection, E-Commerce Fraud Detection, and Risk-Based Authentication. G2 rankings are based on authentic customer reviews and scores; Sift’s ranking is based on over 180 authentic Sift user ratings.
Here is one recent review: “Sift is the partner of choice for fraud prevention. Sift is one of the few tools in our software stacks that has such a clear ROI. We have total transparency with our entire order pipeline to prevent fraudulent purchases. The UI is intuitive and the rules-based engine makes creating and editing rules on the fly a breeze.”
Read more Sift reviews on G2’s review page.
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*** This is a Security Bloggers Network syndicated blog from Sift Blog authored by Sift Trust and Safety Team. Read the original post at: https://blog.sift.com/digital-trust-safety-roundup-rising-ato-new-product-updates-and-sift-recognition/?utm_source=rss&utm_medium=rss&utm_campaign=digital-trust-safety-roundup-rising-ato-new-product-updates-and-sift-recognition
