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They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means. Once inside the account, the fraudster may withdraw funds, change account information, or use it to perpetrate further fraud. For example, a new line of credit.
This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud? In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials.
When the victim enters their credentials, the attacker captures these details and may steal session cookies to bypass multifactor authentication (MFA). As frauddetection and prevention technologies become more advanced, attackers adapt their tactics to exploit the weakest point in the security chain: the identity holder.
These providers offer features like single sign-on (SSO), multi-factor authentication (MFA), and identity governance, all delivered through a secure cloud environment. It offers a comprehensive IDaaS platform that includes document verification, biometric authentication, and frauddetection services.
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