Account takeover has emerged as one of the leading cyber threats faced by individuals and businesses alike.
By accessing your accounts cyber criminals can wreak havoc that can have extreme consequences including the theft of highly sensitive information including financial data. They can also use your accounts to launch cybercriminal attacks in your name.
In this article we’ll tell you everything you need to know about account takeover including how hackers gain access to your accounts in the first place and how to stop them.
What is account takeover?
Account takeover is a form of cyber crime. As the name suggests the attacker will take over an account without authorisation.
After they have gained this access the attack is able to begin multiple different kinds of harmful activities including:
They are able to gain access through a number of avenues including:
Phishing
Hackers will send fake emails or messages that trick users into revealing their login credentials. These messages often mimic legitimate organizations, such as banks, social media platforms, or government agencies. They may contain malicious links or attachments that, when clicked, can lead to malware infections or the theft of personal data.
Data breaches
Cyber criminals can also exploit data breaches where companies lose user information, including passwords. A data breach occurs when sensitive information is stolen or exposed to unauthorized individuals. When a company experiences a data breach, the stolen information, which may include passwords, can be used by attackers to gain access to user accounts.
Malware
Malware is malicious software designed to infiltrate computer systems without the user's knowledge. Once installed, malware can steal sensitive information, such as login credentials, or grant attackers remote access to the infected device.
Brute force attacks
A brute force attack is a technique where attackers systematically try different combinations of usernames and passwords to gain unauthorized access to an account. While time-consuming, brute force attacks can be effective, especially against accounts with weak or easily guessable passwords.
Social engineering
Social engineering is a psychological manipulation technique used by attackers to trick individuals into revealing sensitive information or performing actions that compromise security. This can involve various tactics, such as impersonating trusted individuals, creating a sense of urgency, or exploiting human curiosity. Social engineering attacks often target employees within organizations, as they can provide access to valuable systems and data.
How to prevent account takeover?
Facing account takeover can be frightening. However, there are actions you can take to prevent account takeover impacting you as well protect yourself and your business.
Ensure that you update your passwords for all online accounts, including email, social media, and online banking. Use strong, unique passwords for each account and enable multi-factor authentication.
Keep an eye on your bank and credit card statements for any unusual activity. Report any suspicious transactions immediately and consider freezing your credit.
Be aware that your information being compromised may make you a target for social engineering and phishing scams. These scams often involve impersonating trusted individuals or organizations using information they already have about you to convince you to hand over money or further details. Remain skeptical of anyone asking you for information.
Organizations of all sizes must make sure to keep up with the latest trends and best practices in cybersecurity to prevent cyber attacks from massively affecting their users.
