RSA Outseer, Account Takeover Protection

Account Takeover Protection

Everything You Need to Know

How Does Account Takeover Work?

Account takeover typically occurs when credentials are stolen in a data breach or through a phishing scam. When account details are stolen through a breach, those accounts are often sold on dark web marketplaces or simply dumped online for free.

Phishing scams work by tricking the user into entering their credentials into a fake website. These sites look identical to the legitimate brand they are impersonating but have different URL addresses.

Once the victim enters their information, fraudsters steal that information and then redirect the login to the real website. While data breaches tend to target everyone equally, phishing attacks can be highly targeted.

A few other methods of ATO include the following:

• Man-in-the-Middle Attacks: Attackers intercept account details over unsecured wireless connections or deauthentication attacks.
• Mobile Banking Trojans: Malware places an invisible overlay on the login window of a financial website to steal login credentials.
• Spyware: Malicious software silently records keystrokes and sends that information back to the attacker.
• SIM Card Spoofing: Criminals trick mobile phone carriers to transfer the victim’s phone number to a new device. This allows the attacker to bypass some multi-factor authentication methods.

To prevent account takeover businesses should do the following:

● Implement account takeover protection.

● Educate staff and customers about account security and best practices.

● Enable two-factor authentication.

● Use business-grade antivirus software to stop spyware.

● Automatically take down phishing sites that impersonate your brand.

● Use a firewall or email gateway to remove phishing messages.

Outseer provides seamless fraud protection that defeats both fraud and user friction at the same time. Through machine learning, data science, and advanced risk scoring, Outseer prevents 95% of all fraudulent transactions, with intervention rates as low as 5%.