The danger of account takeover attacks in businesses cannot simply be ignored. Solidifying a defense and monitoring the users for any signs of accounts being taken over are absolutely required in modern times.
As we all know, account takeover, or ATO, costs a lot of damage in trust and revenue. What once started as a simple brute-force attack is now more sophisticated with phishing, malware, and even utilizing AI to lure victims.
As a strong response to such attacks, companies and businesses are constantly building their defense against them. Let’s take a look at many account takeover prevention strategies that any business can implement.
Simple Strategies to Prevent Account Takeover Attacks
While ATO attacks can be frustrating to deal with, they are not completely indestructible. Companies can still protect their business by having to adapt to many of these account takeover fraud prevention strategies:
Implement Multi-Factor Authentication
First, they can prevent ATO attacks by having a stronger user verification system by using several factors. By using MFA, whether it is standard or phishing-resistant, ATO can be prevented because:
- It employs various factors that only legitimate users know, have, and can prove themselves. This can prove to be difficult for fraudsters who don’t have all that information to bypass login.
- Prevent credential stuffing and brute-force attacks. These attacks use automated bots that can’t respond to additional authentication systems that require real human inputs.
Enable Risk-Based Authentication
Every user has a risk level, so why not implement this system during the authentication process? Risk-based authentication allows businesses to determine whether a user is “safe” and “normal” enough to be allowed to access their digital services.
Let’s say a user has a high risk level. The system then will demand an additional authentication to prove they are, in fact, the real account owner. The risk level can be determined by an unusual login pattern, wrong device information, and other factors.
Monitor Activity in Real Time
Next, businesses can monitor the services for any account takeover attempts. However, monitoring them must be done in real time to prevent any inch of time that fraudsters can take advantage of.
Real-time monitoring can detect sudden high login attempts, which can be a sign of password spraying. The advanced real-time monitoring system also includes detecting keystrokes, which can indicate if there is a sign of bot activity within the services.
Use Biometric Logins
As a part of multi-factor authentication, biometrics can easily prevent account takeover attack. However, AI can still be utilized to create a look-alike to fool verification systems. So, how can businesses still use biometric logins as an ATO prevention strategy?
Recently, businesses can implement AI-powered deepfake detection that combines video/audio signal processing with behavioral biometrics and quick-response authentication. With this technology and biometric logins, protection becomes stronger.
Detect Unusual User Behavior
Fraudsters may have their victim’s login credentials, but they may not know their victim’s habits. This is why behavioral analytics can prove to be a strong account takeover attack prevention layer. It can detect unusual user behavior, for example:
- Anomalous behavior pattern. Combined with biometrics, behavioral analytics can detect different typing speeds, navigation habits, and cursor movements that seem to be different compared to the usual.
- Sudden and rushed activities in large numbers. For example, a sudden large multiple transaction in a bank account could indicate that fraudsters are in a rush to transfer all the money from that account.
- Repeating login failed sessions. Behavioral analytics can also detect sudden multiple failed logins, indicating someone is trying to steal the account by using the brute-force method.
Identify Device with Fingerprinting
Account takeover attempts cannot be done easily with device fingerprinting systems. In short, this allows businesses to create a unique identifier for users by collecting information about hardware and software they use.
How device fingerprinting can help businesses deal with account takeover attack:
- Ensuring the account is logged in by using the same device as when the account was registered. This prevents fraudsters from accessing the account, since they use a different device.
- Easily track IPs and the location of the person who logged into an account. Device fingerprinting prevents fraudsters who are logged into an account in a sudden, different location.
- Detecting any use of proxies, VPNs, and location spoofers in a device. Since device fingerprinting directly scans the web browser or device, any apps that can do this hide location trick can be easily detected.
Use Machine Learning for Threats
Unfortunately, today’s account takeover prevention system may not be able to hold future methods. This is a reason why companies should adapt to the continuous evolution of ATO attacks by using machine learning.
Any ATO prevention technologies with machine learning (and powered by AI) should be able to learn and adapt to foreseen attacks. In the present, they can also learn how to deal with current threats efficiently, making sure any signs of ATO can be detected early.
Train Security Teams
Now that all the technology for account takeover attack prevention has been listed, what businesses can do next is with the people involved in the business. For starters, they can train security teams, starting with:
- Conducting red team exercises. Businesses can test if their fortified defense is strong enough by using ethical hackers to try taking an account.
- Identifying any vulnerabilities in the security system. Address and mitigate the issue quickly to ensure no room is left for fraudsters to perform ATO.
Educate Users about the Danger of Account Takeover Attacks
Despite having a barricade of anti-ATO systems, the fate of all accounts still largely depends on the users themselves. Which is why businesses can take time to educate users about the danger of account takeover.
For instance, teach users about signs of ATO attempts and what kind of actions they need to take. But most importantly, they need to be educated not to fall for any phishing attempts.
Protect your Business from Account Takeovers with Keypaz
ATO is a constant problem, but there is still hope in the middle of a grim future. Keypaz brings AI-powered fraud solutions for companies to protect their businesses from any fraud, bringing hope to this digital arms race.
Designed to combat fraud, Keypaz leverages device fingerprinting and small signal orchestration to ensure only real owners can access their accounts. Keypaz has also adapted many of the strategies listed above.
Companies can also customize their identity journey to suit their business and to ensure the anti-fraud system can more accurately detect fraud. Start building your defense against account takeover attacks with Keypaz now!