Feature Article: The Rise of Account Takeovers

The Rise of Account Takeovers
A feature article with Ryan Wilk, Director of Customer Success. You can read the whole article at Help Net Security.

Account takeover fraud is the primary means of attack from fraudsters and attack origins occurring predominantly outside of the U.S., according to NuData Security.

Account takeover is on the rise:

  • Account takeovers have beaten out credit card cycling as a more popular means of fraud, in which fraudsters attempt to hijack valid user accounts as opposed to using lists of stolen credit card details that are purchased and cycled through.
  • High-risk login attempts jump nearly 14 percent in the four weeks leading up to Thanksgiving. High-risk logins are those in which fraudsters try to take over the accounts of users to make a quick profit at a time of large, unusual purchasing.
  • More than 90 percent of high-risk login attempts are scripted, indicating sophisticated criminals with a good understanding of technology are developing small programs in order to quickly steal and buy using other users’ accounts.
  • It is likely fraudsters download lists of stolen passwords from highly publicized data breaches. That gives them two important pieces of information: a list of usernames and passwords, and information about what the most popular passwords in the world are. [read more]