Account takeover detection is an important part of maintaining the security of your organization. Often, a company does not realize it is being hacked until the damage is too great. This can result in lost revenue and loss of trust among your customers.
Guide to Account Takeover (ATO) Fraud Detection & Prevention
The best way to protect your business from account takeover is to monitor login attempts, account creation, and unusual activity on your accounts. If you see changes to shipping addresses or credit card information, you may have been compromised.
Account takeover detection is a sophisticated type of cyber crime. Fraudsters use stolen data from phishing attacks or previous database hacking to take control of your online accounts. They can then use these to commit fraudulent payments. Using the information they obtain, they can also try to launder money.
Typically, account takeover detection involves monitoring login attempts from multiple users. This will provide a better view of the activities of your customers. It will also help you identify suspicious accounts.
Some common indicators of account takeover fraud include a sudden change in reward points. If someone else is claiming the rewards you earned, it is a sign that they may have hacked your account. You should call customer service if you suspect an account takeover.
Another indicator of account takeover is the use of a new credit card without your authorization. Attempts to reset passwords, change shipping addresses, or change bank accounts can also indicate a takeover.
Passwords are an easy target for hackers. Most people use the same password across multiple accounts. However, using strong, unique passwords will ensure that your accounts remain secure.