Loss from Account Takeover are usually quick hit and run scenarios. A number of key-stroke logger viruses can infect a customer without them even knowing, usually through one of the social media channels. The virus then sends the data to the “bad guy”, once the information needed i.e. login credentials - customer ID, passwords, security questions/answers they can access the customer bank accounts.
The key is to use a behavioral analytic tool to understand the customer normal pattern of activity and transactions and where/how they access their accounts. Identifying the last updates to a customer profile and what channel was used to make the changes, i.e. customer service call center or online. An Out of Band Authentication (OOBA) can be set up to validate the customer is the customer. A Risk Based approach and rules were written to identify the timing of changes to transactions, along with type of transactions executed to help prevent customer and accounts from takeover attempts.
The client is now screening for more biometric attributes, increasing the knowledge of the customer and ability continue to tune and model points of intrusion to modify the risk tolerances and risk acceptance policies.