DataDome Account Protect Stops Fraud Before It Happens, Delivering Instant Savings to Enterprises Worldwide

News provided by

Mar 20, 2024, 09:00 ET

DataDome Account Protect Prevents Unnecessary Financial Loss and Costs, Brand Damage & Wasted Team Resources

NEW YORK, March 20, 2024 /PRNewswire/ -- DataDome, a leading provider of AI-powered online fraud and bot management, today announced the launch of DataDome Account Protect. This innovative solution targets the growing threat of account takeovers and fake account creations that organizations worldwide face, providing robust security for login and registration endpoints against account-based attacks for business fraud purposes.

Account fraud, particularly account takeovers, has surged in complexity and frequency, presenting a significant – and costly – challenge for businesses. According to Juniper Research, account takeover fraud cost U.S. businesses a staggering $25.6 billion in 2020, marking a 500% increase from 2017.

Analyzing 5 trillion data points per day, DataDome Account Protect addresses this challenge head-on with unparalleled detection accuracy – right from the initial attempt. Unlike other solutions that solely monitor post-login activities, only collect server side signals and only track initial requests relying on session tokens beyond registration, DataDome Account Protect provides continuous risk assessment of user logins and accounts; it sees and secures the account at login/registration and post-login.

No matter how an account was compromised or created, DataDome Account Protect identifies and neutralizes suspicious behavior, interrogating every request in under 10 milliseconds. Implemented on auto-pilot, the solution seamlessly integrates authentication mechanisms into an enterprise's business logic, triggering password resets and multi-factor authentication (MFA) automatically.

"With the introduction of Account Protect, we're offering businesses a way to quickly and cost-effectively combat the persistent threat of account fraud," said Benjamin Fabre, co-founder and CEO of DataDome. "Our solution not only prevents financial losses and brand damage, but also frees up valuable resources for organizations to invest in improving customer experiences and driving innovation."

For one customer, DataDome Account Protect has already demonstrated remarkable effectiveness. A leading luxury brand encountered significant hurdles with their online booking system, grappling with a surge in sign-ups, reaching between 100k to 300k daily. Seeking a solution, they turned to DataDome Account Protect, uncovering that a staggering 75% of these sign-ups were fraudulent. The implementation of DataDome's solution proved highly successful, showcasing an impressive false positive rate of only 0.00091%. This empowered the brand to reclaim control over their sign-ups, diminish "no-show" appointments, and redirect their focus toward authentic customer interactions, thereby enhancing their booking experience.

Key benefits of DataDome Account Protect include:

Prevention of Account Takeovers and Fake Account Creations - Before They Happen: The solution significantly reduces exposure to account fraud at critical user interaction points, thereby protecting users and brand reputation.
Mitigation of Financial Loss: Companies can redirect resources previously allocated to fraud investigation and response towards strategic projects that enhance customer satisfaction and expand business opportunities.
Continuous Risk Assessment: Every user interaction, from login to checkout, is analyzed, providing businesses with an evolving assessment of potential fraud risks.
Transparency and Explainability: DataDome offers insights into recommended actions and attack patterns, enabling businesses to understand and respond to threats effectively.
Compliance with Privacy Regulations: DataDome Account Protect goes beyond GDPR and CCPA standards, ensuring user data is protected and privacy rights are upheld.

Today's news comes on the heels of several recent announcements, including the launch of DataDome Ad Protect, the expansion of DataDome's bot bounty program, the release of Device Check, its channel partner program expansion, and closing $42M in Series C funding. DataDome has received widespread recognition in the past year for its market-leading detection and mitigation capabilities, including being the only bot detection & mitigation provider to rank on G2's prestigious Best Security Products of 2024 list, Best Use of Machine Learning/AI in the 2023 SC Europe Awards, the 2023 Fortress Cybersecurity Award for Application Security, the 2023 Global Infosec Award for Most Innovative Bot Mitigation, and more.

Follow DataDome on YouTube and LinkedIn for regular updates on threat research, customer case studies, and to ensure your bot protection is ready to tackle the most sophisticated attacks.

About DataDome

DataDome's bot and online fraud protection detects and mitigates attacks with unparalleled accuracy and zero compromise. Our machine learning solution analyzes 5 trillion data points per day to adapt to new threats in real time. Our 24/7 SOC experts protect hundreds of high-profile brands worldwide, including SoundCloud, Rakuten, AllTrails, Scentbird and Helly Hansen. A force multiplier for IT security teams, DataDome is fully transparent, easy to deploy, and frictionless for consumers. DataDome was named a Strong Performer in the 2022 Forrester Wave: Bot Management, ranked a top G2 Leader in Bot Detection & Mitigation in 2022, 2023 and 2024, and is the only bot detection & mitigation provider to make G2's prestigious Best Security Products of 2024 list.