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Harnessing AI and Two Factor Authentication for Enhanced Fraud Detection: How to Craft Dynamic Friction in Account Takeover Fraud Detection

Prabhavathi Matta

matta.prabha@gmail.com

Abstract
As cyber threats become increasingly sophisticated, traditional security measures have proven insufficient in combating these sophisticated Account Takeover fraud attacks as using Artificial Intelligence (AI) in fraud detection has gained prominence. This represents a significant threat to online security, leading to financial losses and reputational damage for both individuals and organizations.  Two-Factor Authentication (2FA) emerges as a critical tool in bolstering the effectiveness of AI in account takeover fraud detection. This white paper explores the role of Two-Factor Authentication (2FA) in enhancing account security and provides a comprehensive guide on its implementation to dynamically add friction based on the risk.

Keywords: Artificial Intelligence, CyberSecurity, Account Takeover, Digital Fraud Detection, Account Recovery, Incident Response,  Machine Learning, Technology Modernization, Digital Transformation, IT Modernization, Information Security, Multi-Factor Authentication (MFA), Threat Intelligence, Data Protection, Encryption, Continuous Monitoring, Incident Response, Compliance, Secure Coding Practices