1. Stealing login credentials through data breaches
Billions of records of personal information are stolen in data breaches every year. The leaked passwords and usernames are often just what hackers need to commit account takeover. Because most people use the same login details on multiple accounts, hackers will try to access other online services with the same leaked passwords and usernames.
2. Breaking in with a computer-generated password
Hackers can break in by simply trying out different passwords to find the one you use. To speed up the process they use programs that can test tens of billions of passwords — in a second. This way any 8-character password can be discovered in approximately 1 hour and 15 minutes.
3. Phishing for login information
Criminals can also just ask victims for their login details. This is done through phishing scams, in which unsuspecting victims are lured into giving their data. Phishing attempts can be done through emails, SMS, scam websites, malicious phone applications, chat conversations, phone calls and so on.
4. Using malware and viruses to steal data
Malware and viruses can do multiple things. A typical function is stealing information from the victim’s device. Many viruses can record your keystrokes when you type in your passwords and others spy on your browser and hijack bank information. You can prevent this with antivirus software.
5. Spying on your internet traffic
Your internet traffic passes many servers before reaching a website. If someone on the route intercepts your traffic, they can see everything you do on the internet. This includes your passwords and usernames. Typically, these man-in-the-middle attacks are done through public Wi‑Fi networks or infected home internet routers. You can protect yourself with trustworthy VPN software.
FAQs
Often, a hacking group will steal hundreds or thousands of passwords, and then another hacker can purchase that list and try those passwords to get into user accounts. In other situations, the attacker may get user credentials using a phishing attack.
How does account takeover happen? ›
Often, a hacking group will steal hundreds or thousands of passwords, and then another hacker can purchase that list and try those passwords to get into user accounts. In other situations, the attacker may get user credentials using a phishing attack.
What are the red flags for account takeover? ›
Signs of Account Takeover
Login attempts and password reset requests: Hundreds of login attempts or password reset requests indicate botnets, credential stuffing, and card cracking. New account information: If your account has newly saved shipping or credit card information, someone else may have been in your account.
What are the common indicators of account takeover? ›
What are some common indicators of an account takeover? Account details have changed (email, mobile phone number, address, etc.) within 24h of the initial account changes, a login from a new device is visible, the fraudster places an order to a new delivery address.
Which of the following is an example of how to detect an account takeover attack? ›
Here are common account takeover indicators: Failed logins — An account takeover attack trying to stuff or guess credentials on online sites typically generate many failed detections. Organizations can look for these failed login attempts to detect account takeover threats. User analytics — Most users work in patterns.
What is account takeover protection? ›
About Account Takeover Protection
It adds additional security to your account by blocking unauthorized users from transferring your lines to another wireless carrier. This service must be added to each line on your account individually.
How do fraudsters take over accounts? ›
Fraudsters take over online accounts using stolen credentials such as passwords and usernames. Fraudsters buy credentials on the dark web, usually through social engineering, data breaches, and phishing attacks.
How common is account takeover? ›
Almost 1 in 4 Americans are victims of ATO fraud
According to the latest cybersecurity statistics by Spy Cloud, 22% of US adults have been victims of account takeover fraud. This equates to more than 24 million households.
Is account takeover illegal? ›
Account takeover fraud is a form of identity theft where bad actors gain unlawful access to a user's online accounts in order to commit financial crimes.
What is the difference between account takeover and identity theft? ›
Account takeover refers to the hijacking of an account that belongs to someone else, while identity theft refers to opening a new account with someone's stolen identity information. Account takeovers can happen to both corporations and individuals, while identity theft can only happen to individuals.
Phishing: User credentials are a common target of phishing attacks, which often use malicious links to direct a user to a fake login page for a service, allowing the attacker to collect their login credentials. Malware: Malware infections on a user's computer can steal passwords in various ways.
Which of the following are potential ways to detect account takeover attacks? ›
How to detect ATO attacks?
- Monitoring emails. Phishing attempts: Attackers often try to steal login credentials through phishing emails. ...
- Tracking IP addresses. ...
- Unknown device. ...
- One device used for multiple accounts. ...
- Unfamiliar changes. ...
- Password reset requests. ...
- Unusual messages from your account.
Account Takeover is a type of identity theft in which a criminal steals a business's or individual's valid online banking credentials and then uses those credentials to initiate funds transfers out of the account.
When someone takes over your account? ›
Force any session or device you don't recognize to log out, and then change your password immediately. Report the fraud to the social media site. Contact customer support, and let them know that someone has taken over your account so that they can deactivate it or return access to you. Contact your friends and family.
