Today, it’s without a doubt that digital transactions are increasing with every passing day. Customers are increasingly opting for online purchases. Quite frankly, this trend is not only challenging online brands to invest in the best online systems, but also fraudsters are taking advantage. According to an article by INFORMATION AGE, fraudsters are taking advantage of this development to identify vulnerabilities for account takeover. For this reason, it is imperative for online accounts to remain secure. If online data gets in the hands of the wrong people, the outcomes will be damaging. It could lead to financial losses or the loss of very valuable information. The following are ways you can use to identify account takeover.
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Credential Cracking
Credential cracking is one of the ways through which one can identify an account takeover. According to an article by Security Affairs, attackers look for areas of vulnerability to gain access to users’ accounts. Fraudsters who use cracking tactics know that if they succeed in making an account vulnerable, they can get the data they want. Credential cracking happens when fraudsters attack account passwords through automatic bot attacks. While it may not be easy for most account owners to identify credential cracking, here are some of the ways through which you can identify account takeover through credential cracking:
- Failed login attempts: In the event of numerous failed login attempts on an account, this is enough to show you that there is a high possibility of account takeover.
- A high number of complaints: In a situation where customers are reporting an increased number of complaints regarding hijacked accounts, this is a symptom of credential cracking.
- Account lock spikes: If you notice cases of account locks increasing, this is a sign that an account takeover is taking place.
- Multiple information testing: In the event of multiple testing of passwords and usernames, there is a high likelihood of credential cracking.
Malware Attacks
Malware attacks present a huge challenge to users engaged in digital transactions and operations. Such attacks have the capacity to compromise user credentials and send them to attackers. If you notice any case of compromise in your account, it could be as a result of a malware attack. If you hear of complaints of funds movement without authorization, there is a possibility that it could be as a result of malware attacks. Multiple logins are also a sign of malware attacks that you should take note of. If you notice any suspicious account activity, it is prudent to take the necessary steps to protect data and prevent further account takeover attacks.
Credential Stuffing
Cyber criminals use credential stuffing tactics to gain access to customer accounts. They use automated bot attacks to compromise the security of a user’s account. They go ahead to use stuffing tools to verify the login information of users. Without details on how to identify credential stuffing, it is difficult for security teams to stop account takeover through this tactic. One of the ways you can identify account takeover through credential stuffing is by noticing uneven increases in login attempts. Since you understand your account’s trends, you should take note of cases of increased failed login attempts. This should alert a user on the possibility of an account takeover.
Another way of identifying account takeover is an increase in traffic. Though an increase in traffic can be a result of genuine factors, credential stuffing can be the reason behind it. Close monitoring of user accounts is integral to identify any cases of credential stuffing. Also, an increase in unauthorized user names trying to authenticate is a sign of fraudsters taking over accounts.
Multiple IP addresses on Accounts
If you notice multiple IP addresses on accounts, it is enough to show you that things are not fine. It is a sign that an account is vulnerable to attacks by fraudsters. With the level of security placed on digital transactions and operations, fraudsters have to employ different ways to see whether they can access accounts. One of the ways they use is engaging in mass logins to try and gain unauthorized access to accounts. As they do so, they don’t have an idea of the locations of the genuine users of accounts. So, they do not have in mind to consider the IP address they use whenever they are trying to access the accounts. The fact that there are multiple IP addresses trying to access an account is a sign that account takeover is a possibility.
Changes in Customer Details
Changes in customer details are a potential indicator of account takeover, especially if the multiple changes are taking place at the same time. This happens after a precautionary measure by an account user. If a fraudster tries to access an account illegally and a precautionary measure follows. The first thing that the fraudster will do is to try to change the details of the victims. If you notice a change in sensitive information you should be careful as it could be as a result of account takeover.
Social Engineering
Fraudsters use social engineering as a way to gain access to data belonging to account owners. Essentially, they try to get the login information of users by asking them for personal information. And then use it to take control of their accounts. One of the ways through which fraudsters use to lure unsuspecting persons to give out personal information is by sending unauthorized emails and messages asking for personal data. If you get unsolicited emails, take note of them because they are not genuine. Also, these fraudsters can choose to contact account holders under the pretense of being part of a customer support staff. Unsuspecting users can find themselves falling into the trap of such fraudsters.
It is important to learn how to identify account takeover in order. To take precautionary measures in time before extreme damage takes place. Since attackers have predictable ways of operation, understanding how they work is an integral step towards protecting your account. To ensure that you’re well protected in your digital platform, make sure that you use advanced protection measures and systems. That’s how you can safeguard your accounts from sophisticated fraudsters.
