Account Takeover Fraud: What You Need to Know

April 22, 2022
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In the 21st century, fraud is a business transferred from offline to online. In recent years, internet users have increased significantly, and cybercrime too.

Most people use web services to communicate with friends or commence daily transactions such as paying bills and shopping online. Several months ago, social media platforms were concerned about security threats affecting their network due to spam registrations by bots and fake accounts to spread misinformation.

And, now the situation shifted because attackers began using compromised accounts for fraudulent activities through account takeover frauds.

What is Account Takeover Fraud?

Account takeover fraud is a type of online fraud that occurs when a criminal gains access to a victim's account and uses it to purchase items or steal money. This can be done by stealing the login credentials or infecting the victim's computer with malware that captures keystrokes.

Victims of account takeover fraud typically lose money, have their personal information stolen, or both. To protect themselves from this type of fraud, consumers should use strong passwords, install antivirus software, and be careful about where they enter their login information.

They should also monitor their accounts regularly for unauthorised activity. They should also notify their banks if they see any suspicious activity.

Different Methods Executed for Account Takeover Fraud

Credential Stuffing

Credential stuffing is....

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