There is growing concern about account takeover (ATO) attempts among both individuals and organizations. These attacks frequently involve fraudulent attempts to access a user’s account, such as through phishing. Hackers who get access to a user’s account can cause significant harm by carrying out fraudulent transactions, transferring funds, or stealing sensitive information.
How Are Account Takeover Attacks Recognizable?
Many different forms of account takeover (ATO) attacks exist. Typical indicators include the following:
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Accidental Password Resets in Email
If you receive an email saying your password has been reset but did not initiate the change, you may have been the victim of an account takeover.
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Unusual Attempts to Log In
A hacker may be attempting to gain access to your account if you see a big number of failed login attempts from a wide range of IP addresses
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Unusual Activity in Your Account
The FBI’s IC3 received 467,361 reports of cybercrime, resulting in a $4.2 billion loss. There were numerous reports of ATO violations. If you notice any changes to your personal information or transactions in your account that you didn’t initiate, you may be the victim of an ATO assault. Employing account takeover fraud prevention software is the simplest solution to protect your account from hackers right now.
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Spam Messages
An ATO attacker may contact you by email or text message, pretending to be a legitimate business in order to get access to sensitive information or convince you to visit a malicious website.
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Unusual Device
If you see unusual login attempts coming from various computers or IP addresses, it’s probable that an attacker is trying to break into your account.
Account Takeovers: How Can They Be Avoided?
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Create Secure, Unique Passwords
You may protect yourself from credential-stuffing attacks by using unique, strong passwords for each of your online accounts. A strong password consists of at least eight characters and includes letters, numbers, and special characters.
Passwords like “password123” are ridiculously trivial to crack and should never be used. The same password could be used to try to access other accounts if the attacker obtains access to one.
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Be Alert for Suspicious Emails or Text Messages
Phishing is a common method used by hackers to gain access to victim accounts and steal their data. A phishing email or text message sent by an attacker can appear to come from a legitimate source, such as a bank or online retailer.
The message can ask for the recipient’s login details or provide a link. Be careful of any emails or texts that ask for your personal information that you did not initiate. Do not download files or visit websites from unknown senders.
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Establish MFA (Multifactor Authentication)
When a person tries to log in with just their password, multifactor authentication (MFA) requires them to enter a second piece of information. A fingerprint, a facial scan, or a secret code entered into a phone might all serve this purpose. When used in conjunction with a strong password, multi-factor authentication (MFA) can help keep hackers out of your online accounts.
Without additionally gaining access to the user’s phone or other device used to receive the MFA code, a hacker who has the user’s password will be unable to access the account. Users can activate MFA by logging into their account settings or by downloading third-party software.
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Update Your Applications and Operating System
There is a risk that hackers will try to access your accounts by exploiting vulnerabilities in older versions of your software or operating system. Stay safe from these dangers by updating your software and operating system regularly. Not only your computer but anything with an internet connection is included here.
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Keep a Close Eye on Your Finances
Regular account checks can help you spot any suspicious activity and take immediate action if necessary. Identity theft and account compromises can be avoided if you keep a tight eye on your financial records and report any suspicious activity right away.
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Don’t Blindly Connect to Free Wi-Fi Spots
Since it is impossible to know who else is using a public Wi-Fi network, it is risky to transfer sensitive data over it. If you utilize a public Wi-Fi network, there is a chance that your information will be intercepted, your credentials will be stolen, or malware could be put on your device. The most secure means of connecting to the web from a public Wi-Fi hotspot are virtual private networks (VPNs).
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Use a Secure Password Manager
If you have multiple online accounts and want to use strong passwords for each, a password manager can help. You may avoid the hassle of trying to remember complex passwords by using a password manager.
Conclusion
By taking all of these measures, you will be able to stop unauthorized users from accessing your accounts. No system is completely safe, so it’s important to stay vigilant and up-to-date on the latest attack techniques.
