Cyber Security: Account Takeover Prevention

What Is Account Takeover? Prevention and Protection Strategies

In today’s digital age, account takeover (ATO) has become a growing threat that businesses and individuals cannot afford to ignore. A case highlighted by Pieter Arntz on the Malwarebytes blog recounts attackers stealing LinkedIn accounts and demanding ransom. This alarming scenario underscores the reality that account takeovers are not limited to social media platforms—they extend to work accounts, often causing disastrous consequences for businesses.

The Rising Threat of Account Takeover

The prevalence of ATO has surged in recent years, fuelled by increased digitisation and online transactions. Between 2022 and 2023, cases rose by 169%, and between 2023 and 2024, the increase was a staggering 354%. This surge is partly due to organisations prioritising rapid system implementation over robust security measures, leaving user accounts vulnerable. The cost of neglect? Victims report average losses of $12,000 per incident.

Fraudsters target industries relying on subscription-based models, digital services, and online shopping. No organisation is immune, but with proactive strategies, businesses can safeguard themselves against this growing menace.

Understanding Account Takeover

Account takeover is a form of identity theft where fraudsters gain unauthorised access to a user’s account, often with malicious intent. This access enables them to:

• Alter identification details
• Scam other users
• Drain financial resources

There are two main types of ATO:

1. Corporate Account Takeover (CATO): Attackers target organisational accounts to perform malicious activities.
2. Personal Account Takeover: Focused on individual user accounts, this is the most common form of ATO.

How Account Takeover Happens

Cyber criminals use various methods to execute ATO. Here are five prominent strategies:

1. Brute-Force Attacks and Credential Stuffing: Weak or reused passwords make accounts vulnerable to these attacks.
2. Phishing: Fraudulent emails trick users into sharing credentials.
3. Social Engineering: Techniques like pretexting and baiting exploit human psychology.
4. Account Login Compromise: Attackers manipulate weak “forgot password” flows.
5. Session Hijacking: Cyber criminals exploit browser session vulnerabilities to steal sensitive data.

Indicators of Account Takeover

Organisations must be vigilant for signs of ATO, including:

• Abrupt changes in account information
• Unfamiliar login patterns
• Unusual account activity or involuntary transactions
• Persistent login failures

Strategies to Prevent Account Takeover

Preventing ATO requires a multi-layered approach. Here are actionable strategies:

1. Employee Awareness and Training: Educate staff about ATO risks and prevention. Encourage secure password management and vigilance against phishing attempts. Discover our cybersecurity solutions.
2. Enforce Strong Password Policies: Promote unique passwords with a mix of characters. Avoid predictable patterns. For more tips, explore our IT managed services.
3. Implement Multi-Factor Authentication (MFA): MFA adds additional security layers, making it harder for attackers to gain unauthorised access. Learn more about cloud-based security solutions.
4. Secure APIs and Applications: Regularly update software, use encryption, and monitor for suspicious activities. Our IT consulting services can help you strengthen your infrastructure.
5. Leverage Threat Detection Tools: Automated tools can monitor and mitigate risks in real-time. Explore our IT support services to enhance your organisation's security posture.

Protect Your Business Today

Account takeover is a significant threat, affecting one in four organisations globally. As cyber criminals continue to evolve, businesses must remain proactive in implementing robust cybersecurity measures.

At AT Technologies, we specialise in helping businesses safeguard their digital environments. From cybersecurity services to disaster recovery solutions, we provide comprehensive protection tailored to your needs. Contact us today to learn how we can help secure your business against account takeover and other cyber threats.