82% OF BUSINESSES CONFIRM FAKE USERS ARE A PROBLEM*
Online and mobile app-based account registration fraud is an epidemic that is impacting companies and their users on a global scale. When new users are not verified at account registration, companies risk allowing bad actors into their user base. These cyber criminals have adapted their monetization strategies to engage good users within these walled environments. The complexities required to circumvent registration barriers such as CAPTCHAs, email confirmation, and IP blacklists have led to the emergence of an underground market that specializes in selling fake accounts.
Fake accounts are used to
Commit credit card fraud
Steal confidential information
Spam good users
Large organizations spend as much as $14 million to respond to malicious acts committed by bad actors. The damage caused includes user abandonment, negative brand impact and decreased user base value.
INVEST IN CREATING A SECURE USER ECOSYSTEM TO PREVENT FAKE ACCOUNTS
Through phone verification, companies can confirm the identity of end-users by attaching a verified mobile number at account registration. When the phone number is collected at registration, phone number intelligence can be provided to evaluate the potential risk of the end-user. This helps ensure the account registrant is not from a bot or spammer registering thousands of fake, bulk accounts.
To stop fraudsters before they have the chance to do damage
Attach a verified phone number to each new account
Use phone number intelligence to access risk
Challenge or block suspicious accounts
TeleSign enables businesses to implement phone verification using SMS, voice message, or frictionless signaling to the mobile number provided. Phone number intelligence solutions are used in conjunction with phone verification to assess fraud risk.