How does account takeover work?

Account takeover (ATO) is one of the most common and costly cybercrime attacks affecting businesses and consumers. It involves cybercriminals gaining access to an online account by stealing credentials or using stolen information and posing as the victim to commit fraud and theft. It is a complex threat that can be difficult to detect with legacy security tools alone.

How does account takeover work can use a variety of methods such as credential stuffing, phishing, malware and mobile banking Trojans. For example, phishing uses an email to trick the recipient into revealing their account login details. Another method is malware which can be downloaded onto a user’s device through a website or app. It then monitors the device and makes unauthorized transactions, often for cash or bitcoin.

Effective Methods to Detect Fake Account Registrations

Once the hacker has an account, they can then resell the credentials or use them to take over other accounts for financial gain. These can include checking and savings accounts, credit cards, retail, e-commerce, travel and even government benefits such as Medicare and Medicaid.

Organizations can protect against ATO attacks by implementing strong authentication and risk-based policies to stop criminals in their tracks. It is also important to educate employees and customers about how to recognize phishing attacks and other suspicious behavior that could indicate an attack. Another effective measure is deploying an ATO defense system such as Vectra AI, which can automatically identify suspicious activities and neutralize the threat without the need for human intervention.