Glossary

An Account takeover (ATO) occurs when a fraudster gains unauthorized access to a legitimate user's account. ATO can be accomplished through methods like phishing, social engineering, or exploiting data breaches. The fraudster, after taking control of the account, can make unauthorized transactions, steal sensitive personal information, or engage in fraudulent activities.

Age verification uses data from identity document validation in conjunction with biometric data to confirm a customer's age. This helps businesses ensure customer safety and regulatory compliance when offering age-sensitive products or services online.

AI-driven fraud detection leverages artificial intelligence (AI) and machine learning to identify and prevent fraudulent activity in real-time. AI-powered fraud detection systems analyze large volumes of data, looking for anomalous patterns or unusual behaviors that might be otherwise missed by traditional, rule-based methods. Mitek's AI-powered tools for fraud detection help organizations to proactively detect and stop threats.

Authentication processes are used to verify the identity of a user or entity attempting to gain access to systems or services, such as online banking or social media accounts, or a personal or corporate email account. Common methods of authentication include passwords, biometrics (including facial recognition or fingerprint), multi-factor authentication (MFA), passive liveness detection, and behavioral analytics that determine the consistency of the login attempt with previous logins.

Anti-Money Laundering (AML) practices include laws, regulations, and procedures applicable to the detection, prevention and reporting of activities that involve money laundering. AML practices that are implemented by financial institutions and other regulated entities are designed to prevent illicit funds from entering the financial system and becoming commingled with and indistinguishable from legitimate funds. This protects financial institutions from being a party to criminal activity and ensures compliance with federal regulations.

Behavioral biometrics is an advanced approach to identity verification and fraud prevention. It analyzes unique user behavior, like the user's typing patterns, mouse movement, navigation menu flow, and their touchscreen interactions for natural and consistent behavior. By continuously monitoring these traits passively, organizations can add an additional layer of authentication in real time without adding friction, thus providing a more seamless, secure user experience while still effectively enhancing their ability to detect fraud.

Biometric authentication is a secure method of identity verification that analyzes a user’s unique biological or physical characteristics, such as their fingerprint, facial geometry, iris patterns, or voiceprint. Unlike password- or token-based methods, biometric authentication offers stronger protection and a more seamless user experience by leveraging individual traits that are extremely difficult for a fraudster to replicate.

Bank account fraud involves unauthorized access to or use of a customer's bank account. This type of fraud typically includes activities such as unauthorized withdrawals, fraudulent fund transfers, or unauthorized account openings using stolen or falsified identity information. Fraudsters often gain access through phishing, social engineering, or compromised login credentials.

Deepfake refers to AI-generated or digitally manipulated media, including videos, images, or audio, that has been designed to realistically mimic the appearance, behavior, and/or voice of a real person. While the creation of your own digital twin can serve legitimate purposes, deepfake media presents many risks for identity fraud, impersonation, misinformation, and social engineering attacks.

Digital identity refers to the collection of verified digital attributes, credentials, and behaviors that constitute an individual's identity online. It enables secure, trusted access to digital services, including banking, e-commerce, social platforms, and government portals, by serving as the foundation for authentication, authorization, and identity-based decisioning processes online.

Digital identity verification is the process of confirming that an individual’s claimed identity matches their true identity. This verification is typically conducted online using a layered system that verifies official ID documents, biometrics like facial geometry, behavioral data, and other verification signals. Digital identity verification ensures that only legitimate users are able to gain access to services or accounts, and is a foundational component of secure onboarding, fraud prevention, and regulatory compliance.

Document liveness is a real-time security check during digital identity verification. It is used to confirm that the identification document presented is authentic and that the genuine document is being displayed by the user, not a photo, scanned document, or deepfake. This stops fraudsters from bypassing identity checks by using fake, manipulated, or previously captured images of documents. For added security, Mitek’s document liveness detection layers seamlessly with our mobile identity suite, ensuring that every document presented is present and valid.

Fraud detection processes monitor and analyze customer data, transaction activity and other user behavior to identify suspicious or potentially unauthorized activity. By leveraging AI, machine learning, and advanced analytics, modern fraud detection systems proactively detect and prevent fraud and mitigate institutional losses. Mitek’s AI-powered fraud prevention solutions give organizations the ability to spot and stop threats in real time.

Fraud prevention refers to proactive strategies and technologies that are used to stop fraudulent activity before it happens. Fraud prevention techniques include identity verification, document verification, biometric authentication, and transaction monitoring, all of which are capable of detecting anomalies in real time. Mitek’s AI-driven solutions strengthen these fraud prevention defenses, proactively stopping threats to prevent financial losses and preserve customer trust.