Account takeover fraud (ATO) is a serious threat, with losses reaching nearly $13 billion in 2023 and attacks rising by 354% yearly. Hackers use stolen credentials and social engineering to access customer accounts and bypass security questions, causing significant financial and reputational damage.
Seamfix AI provides a powerful solution to prevent ATO fraud. With tools like Face Match and Liveness Detection, we ensure every user is verified, keeping their accounts—and your business—secure.
Why is Account Takeover Fraud Hard to Detect?
For one, Fraudsters Are Getting Smarter. They use highly advanced techniques like credential stuffing, where bots automatically try thousands of username-password combinations that have been stolen. Criminals also manipulate people into revealing sensitive information through phishing by playing on our human instincts.
Research shows that over 78% of customers reuse the same password across different services, making it easier for attackers to steal them. For many businesses, the reliance on manual verification methods is a major weak point. Fraudsters can easily bypass human checks using stolen or counterfeit documents.
Perhaps the most damaging aspect of ATO fraud isn’t the immediate financial loss—it’s the loss of trust in relationships. Companies are under increasing pressure to comply with data protection laws, and a breach leads to hefty fines and a damaged reputation that’s hard to recover from.
How Seamfix AI Solutions Prevent Account Takeover Fraud
Since 2008, we’ve enabled trust for over 1000 businesses through highly intelligent solutions that create, verify and issue trusted identities. So far, we’ve prevented account fraud by up to 90% for our clients.
How do we do this?
1. Advanced Document Verification
We instantly authenticate government-issued IDs by cross-referencing a user’s documents with trusted global databases worldwide. Only genuine users are onboarded, and anomalies are rejected in seconds, making it nearly impossible for fraudsters to manipulate the system.
2. Biometric Verification
Passwords can be hacked, but faces can’t be faked. We use facial recognition and liveness detection to verify users during onboarding and authentication processes. Whether it’s a customer opening a new account or making high-value transactions, our active and passive liveness detection ensures that the person is physically present and not an imposter using doctored photos or videos.
3. Biometric Consent for Secure Transactions
Our Biometric Consent engine enables customers to authenticate high-value transactions securely, all from the convenience of a mobile or web app. Customers can quickly provide biometric consent for transactions above a set threshold without needing in-person meetings or branch visits, ensuring security without sacrificing speed and convenience.
4. Automated KYC Compliance
Manual KYC checks are slow and prone to human error. Seamfix Verify automates the entire KYC process, reducing the time it takes to verify a user’s identity while increasing accuracy. This ensures businesses comply with strict regulatory frameworks, such as AML, PEP and CFT laws
5. Real-Time Insights and Analytics
Our platform offers detailed insights into every verification process. From monitoring account activity to analysing trends in fraudulent behaviour, businesses can access real-time analytics that guide informed decision-making. Seamfix’s AI-powered analytics help businesses predict potential threats and adapt their security measures to stay ahead of evolving fraud tactics.
6. Scalability and Security with AWS
As your business grows, so should your security solutions. We’ve partnered with AWS to deliver a scalable platform that meets your needs. With Amazon Rekognition for image analysis and Amazon EC2 for flexible computing power, we ensure that your identity verification is fast and reliable, no matter where your customers are located.
7. Access Control with Biometric MFA
Seamfix integrates Multi-Factor Authentication (MFA) and Single Sign-On (SSO) to provide a robust access control platform. We help you ensure the right people—whether contractors, partners, or employees—have the appropriate access they need to perform at their best. Our platform is easy to set up, fast to implement, and equipped with everything you need to manage a single user on-site or a million users remotely.
Start Securing Accounts and Preventing Fraud
At Seamfix, we’re committed to making account security seamless and reliable. With over 400 million verified identities globally, we help businesses stay one step ahead of fraud.
Our technology doesn’t just stop account takeovers—it ensures your users enjoy secure, hassle-free transactions, every time. With coverage in 226 countries and support for 13,000+ ID documents, Seamfix delivers the speed, scalability, and security you need to grow confidently while meeting every compliance standard.
Want to learn more? Book a free demo or schedule a consultation today.
