In our digital world, we have online accounts for everything from financial services to shopping and travel. These accounts offer an appealing target for unscrupulous criminals looking to commit different forms of fraud. Detect account takeover attacks these attacks are challenging because they often hide behind legitimate activities that are not immediately suspicious. To combat account takeover (ATO) fraud, companies need a comprehensive monitoring system that looks at all actions within an account to identify suspicious behavior.
Fraudsters use stolen login credentials such as usernames and passwords to access online accounts and make fraudulent transactions. They can obtain these credentials from data breaches, phishing scams, and man-in-the-middle attacks. They then validate the stolen credentials using techniques like credential stuffing or brute force attacks. Validated credentials can then be resold on the dark web or used to breach other digital platforms.
Defending Your Online Identity: How to Detect and Prevent Account Takeover Attacks
ATO attacks can have serious consequences for both consumers and businesses. In the case of financial institutions, it can lead to loss of money, and in other cases, reputational damage. It can also lead to a decline in customer loyalty, which is why it’s important for businesses to have a robust ATO detection solution in place.
One way to detect ATO attacks is through graph analytics, which examines all the connections between a user’s accounts and other accounts. It can identify unusual patterns of activity such as large withdrawals or a sudden change in geolocation. It can also flag anomalous requests to change the password, address, or payment beneficiary that could indicate an ATO attack is underway.
