Insight on the Role of Phones in Account Takeover

Jack Sundstrom, chief product and marketing officer for Kevari, wrote an article for Credit Union Times called, “Hanging Up on Phone-Change Fraud,” stressing the need to screen phone-number changes (in addition to address and email changes) to prevent account takeover.

Additionally, the piece shares the results of a comprehensive analysis of thousands of phone number change requests sent to banks, and the patterns that – when combined with other contact and identification data – can reveal an account takeover attempt.

“By scrutinizing [phone number] changes using data-driven analytics, financial institutions can hang up on most forms of phone-based fraud more efficiently than ever before,” Jack writes. “It’s worth the effort to preserve customer or member trust and reduce fraud losses.”


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