Everyone wants their account to stay protected from being taken over, but in reality, it’s not that easy. This is because there are so many account takeover methods with new ways to perform them, making it complicated to be detected and mitigated.
Looking at the statistics, it doesn’t seem to be over anytime soon either. Last year, account takeover attacks increased by 24% year-over-year (based on Sift’s Q3 2024 Digital Trust Index), compared to 2023.
Since one of the best solutions is to educate the masses about how to deal with this attack, this article will provide insight about account takeover. Starting from its definition, the telltale signs, the common methods, and how many ways to detect them.
What is Account Takeover (ATO)?
Account takeover (often shortened to ATO) can be simply explained as the name itself. Any attempt to take someone else’s online account without permission using stolen credentials is considered an account takeover.
Now, why would someone take someone else’s online account? If the account is a bank account, they can perform unauthorized transactions or transfer all the balance from it. If the account is a regular account, they can steal personal information and sell it.
Since the account is taken over, the person who legitimately has the account will lose access to the account. They can also lose financially and are at risk of their personal data being shared on the internet.
Also Read: Deepfake Account Takeover: How Hackers Use It & How to Prevent
Signs of an Account Takeover Attack
Thanks to the way modern systems work, now it is easy to see signs that account takeover fraud has been attempted. Here are obvious signs that the account has been taken over or, at least, accessed by someone else:
1. Unknown Login Alerts
Imagine getting a notification about an account being accessed on an unknown device. It is a clear indication that someone is attempting an unauthorized login, and they actually managed to enter the account.
The login alerts are the way a security system of the services confirms if the account is accessed by the real owner with a new unregistered device. This way, the account owner can take immediate action if they find out their account has been compromised.
2. Suspicious Activity
An account that has been taken over may have shown some suspicious activities, and it’s pretty easy to find out the symptoms. For example:
- Getting a one-time password (OTP) message without requesting it. This is a clear sign that somebody is trying to access that account by requesting an OTP.
- Receiving emails about resetting the password without requesting it. While resetting a password can be done by someone who forgot their password, it can also be used by attackers to brute force their way to access the account.
- Sudden transactions that occurred without consent. Notice any odds from the transaction history? If an unfamiliar transaction occurred, it can be a sign that someone secretly did the transaction.
3. Sudden Loss of Access to Account
Some services usually let users immediately access their account without having to type a password again. That is, until one day during the login session renewal, using that same password doesn’t work anymore.
This is because the account has been hijacked and the fraudster has changed the password. Worst case, the real owner may not be able to recover the account because the fraudsters have changed the security systems.
The 5 Most Common Account Takeover Methods
There are many types of account takeover methods that have been used and experimented with throughout history. However, only a few of them remain to be the strongest adversary for many companies and businesses.
Phishing Attacks
This is the most classic one. Phishing is a namesake of fishing because it is an attempt to steal sensitive information from the victim by baiting them, just like the concept of fishing.
Now, there are many usual techniques being used to lure people to share their account credentials, to name a few:
- Pretending to be one of the official business’ representatives and asking for their login credentials.
- Sharing a malicious link that leads to a fake site that resembles the services the victim usually uses.
Recently, fraudsters can also utilize AI to perform a new way of phishing. By taking the full capacity of machine learning, they can mimic the target’s relatives, know their recent interactions, and create fake sites that genuinely resemble legitimate sites.
Credential Stuffing
The dark web lists plenty of login credentials leaked from data breaches, but how do fraudsters utilize them all? They can perform automated login requests across multiple sites. This is called credential stuffing.
Unlike brute force, there is no guessing game needed since they already possess the login credentials. If the victim has the same username and password being used on multiple sites, all of them can be compromised by using this credential stuffing method.
Malware Infection
There is recent news from Google regarding the change of the Android system. Installing apps from unofficial sources, which is why many people use Android devices, won’t be allowed anymore due to malicious software.
This is because malicious software can contain malware that can steal information, like login credentials. Lumma Stealer is currently the most notorious malware that has been used in modern applications.
Man-in-the-Middle (MitM)
What if the bad actors could just intercept the network between users and the web apps to steal information? This account takeover fraud attempt is known as a MitM attack.
MitM are often disguised as free (but unsecured) public WiFi, leaving victims unsuspecting. This is one of the reasons to prefer using private internet to access something important.
Password Spraying
The last account takeover method involves brute-forcing common passwords, and hopefully one of them manages to log in. It’s the least used on this list because it is easy to tell the signs: sudden high login volumes.
How to Detect Account Takeover
As a company or business, dealing with account takeover ATO attacks is an obligation. Instead of letting its consequences ruin everyone involved, they can take immediate action. Here’s how they can detect them:
- Continuously monitor for any suspicious login patterns. Real-time monitoring can also help prevent ATO attempts.
- Ask for additional authentication processes using any of the MFA methods. Ensure the account is still accessed by its legitimate owner.
- Lock potentially suspicious accounts to track the activities. This will stop further attacks caused by ATO before it damages the account.
In addition, companies can also deploy AI-powered technology like Keypaz. Thanks to its device intelligence and smart signal orchestration, businesses can stay out of any account takeover methods. Prevent and detect any ATO attacks by using Keypaz now!