Shield customers from SIM-swap fraud, phishing, man-in-the-middle attacks and chargeback fraud

Learn how to combat phishing attacks, SIM-swap fraud, man-in-the-middle attacks, chargeback fraud, and more.

Reduce phishing attacks and other cybersecurity threats that erode customer trust with modern authentication.

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Multi-factor authentication protects your FI from SIM-swap fraud, MitM attacks, phishing, and chargeback fraud.

Guard against phishing attacks

What makes phishing attacks so successful? It’s how fraudsters emotionally manipulate their victims by posing as an authority figure, like a bank employee. They create a sense of urgency to trick their victims into clicking on fraudulent links or divulging sensitive information like a one-time PIN (OTP) code.

There has been a 464% increase in phishing attacks since 2022. (ETCIO, 2023). Watch our video on combating current fraud threats to learn more about blocking these attacks.

Download our free fraud prevention infographic to learn more.

Reduce SIM-swap fraud

SIM-swap fraud occurs when a fraudster obtains a customer’s credentials, then calls a mobile network operator (MNO), and — posing as that customer — requests a SIM swap. Once the new SIM card is activated, all the victim’s SMS one-time passwords (OTPs) divert to the fraudster’s device, allowing them to verify transactions. The solution: strong multi-factor authentication.

In the U.S. alone, SIM-swap fraud losses reach over $68 billion on an annual basis. (FBI, 2021). Read our blog on how weak OTPs drive SIM-swap fraud.

Download our free sim-swap case study to learn more.

Prevent MitM attacks

Man-in-the-middle (MitM) attacks occur when hackers intercept and relay communication between two parties without them knowing. The goal is to steal sensitive information, like a customer’s bank account details or social security number. Along with strong encryption protocols, FIs using multi-factor authentication can help prevent unauthorized access, like MitM attacks.

47% of U.S. citizens are exposed to the risk of Wi-Fi eavesdropping when using free public Wi-Fi hotspots. (HighSpeedInternet, 2022). Watch our video on preventing man-in-the-middle attacks.

Learn more in our free fraud prevention infographic.

Thwart chargeback fraud attempts

Chargeback fraud, also called friendly fraud, occurs when fraudsters (posing as customers) deliberately dispute a charge with the bank, rather than the merchant, to obtain a refund for goods or services they’ve already received. Alternatively, it can also be a hacker purchasing something using stolen credentials.

70% of chargeback claims against merchants are actually “friendly fraud”. (Chargebacks911, 2022). Read our blog exploring how 3-D Secure can protect customers and banks from
e-commerce fraud.

Find out more in our free fraud infographic.

Protect your business from phishing, SIM-swap fraud, and other cybersecurity attacks with Entersekt’s multi-factor authentication solutions.

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