#DataBreaches, #Password Security

How To Avoid Account Takeover (and Be Safe)

May 2, 2024

Account takeover is the big cyber threat that every individual, small and large enterprises fear alike.

Cases of account takeovers are common today, but it’s also unfortunate that some people aren’t always able to protect themselves.

Let us not be a victim of circumstance; today, we shall learn about online account take over and measures to protect you from the account take over threats.

What is account take over (ATO)?

There are enough data that we have exposed online through our accounts. These data are safe when hackers don’t get to them. However, if the hacker gets access to your credentials, they can create more damage.

Suppose, the hacker knows your email address, phone number, and or full names, what amount of damage they can cause to your financial and social accounts? Well, account take over is a developing and very lucrative cybercrime that involves the hacker attempting to extract your credentials.

Once the hackers gain sufficient data they need, they will get control over your account and use it for their gain. Your data could be sold on the dark web or to any bidder willing to offer the best price. The account data, like driving license can then be used without your knowledge as the people holding them can claim to be you.

The impact of this account take over identity fraud has no boundaries. It is up to the perpetrator of what exactly he wants to use or misuse your data for.

Why should I care about ATO?

There is no one safe as far as account take over is concerned, and as much as account users want to blame their companies, it’s not entirely their fault. Therefore, there is a need for everyone to care about ATO, and only then, shall they know how to protect themselves. There is no big or small company; any account on the web is vulnerable as long as account holders keep exposing their information to the public.

The same is true about companies not safeguarding the credentials of their beloved users.

Extreme care is to be given for password security as these are the golden keys to every account.

Any such breach or exposure of user credentials on any website or application will have a major impact on the end-users depending on the user profiles.

If passwords are re-used in multiple places, then the impact will be even more. It will be just a matter of time, for wrong-doers to take over such accounts easily.

Account TakeOver Examples

Bank Accounts

According to a BBC report, a customer of the Royal Bank of Scotland was hacked. In the process, she lost over £4,000 as the hacker used a method called social engineering to convince the bank customer service to process a transaction.

In the first place, the hacker had diverted the calls of that woman to his number, and it was easy to convince bank customer care. It was a loss, but the woman was refunded the money after the bank admitted their fault.

Facebook accounts

As much as the Facebook CEO, Mark Zuckerberg attempts to create a platform impenetrable by the hackers; it’s still not safe. It’s on Facebook that users have reported their accounts being hacked and taken over by online hackers.

In a Facebook report published in 2017, accounts of a gym owner and Emergency-Room owner was taken over by hackers.

Also, in September 2018, over 50 million Facebook were at risk as hackers could have gotten access tokens.

Another case occurred in April 2019 when 22000 email+ passwords were available for public viewing. Also, Facebook CEO has lost some of his social media accounts due to Account Take Over.

Mobile Phone Takeover

Cellular providers give an option for swapping phone numbers in case your original was stolen. It’s through this technique that dark web against using your personal information to trick customer service providers into swapping your line.

In 2018, a victim lost $224 million and as a result, sued AT&T for authorizing a sim swap.

Instagram account takeover

As people are making money through promoting products via their Instagram page, hackers are looking for opportunities to take over the accounts.

In 2018 a report that focused on Instagram account take over discovered that so many account information was altered.

The attack originated mainly from Russia and practically when you are locked out of your email, it’s not easy to reclaim our hacked Account.

How does account take over happen?

Taking over online accounts has become easy as web users are leaving ample traces of their essential information.

To know how hacker’s manage the account takeover process, here is a description of the essential ways.

Account takeover via password reset
Credential Stuffing
Credential Cracking
Hacking
Phishing & Spear Phishing
Social Engineering
Botnets

Credential stuffing

Credential stuffing is a process where the hacker assumes you have used your information in more than one account.

Many of us use common passwords in more than one account. It’s never safe that way you are making the hackers work to be easy.

They will then test this information either manually or using automation.

By testing this information, they will not need to guess your passwords and other information. Instead, they will be using mass-login attempts as a way of verifying the stolen data, say passwords, and emails. They can also purchase information from the dark web or channels which sell such information.

Credential cracking

Theses form of cracking is often referred to as brute force cracking. As much as it takes time to get the actual data, but the hacker will be willing to try various combinations of keys for passwords and email. The main aim is to get access to that Account, and they will be doing anything possible to get it

There are three main ways involved in this type of hacking. First, they will use a guessing attack to discover valid login accounts. Secondly, they will deploy a dictionary attack which requires the use of a large number of words. Lastly, they will deploy brute force attacks.

When you notice an increase in the failed login attempts or hijacking complaints, know that you are a victim of a brute force attack.

Better to change the password for such an account and secure it with two-factor authentication(2FA) or multi-factor authentication(MFA).

Social engineering

Social engineering is the most straightforward technique for an account to take over as the hacker only needs time and patience.

They will go through a database of all possible accounts to extract information that can be of help to them.

Name, phone number, location among other details can be obtained from social media platforms, and that’s what they need to use it against you to coerce your passwords.

Hacking

There are various methods an ATO attacker can use. However, they usually use a brute force attack in which an automated script attempts various password combinations to get the perfect match.

Botnets

Bots provide a more secure way for ATO attackers to gain access to your Account.

By deploying botnets from a different location, it will take time before you can identify the source of the IP address from where the hacker is logging in.

Once botnets have been deployed, they can hack hundreds of accounts using the enormous resources controlled and used by such botnets and their nefarious operators.

Phishing and Spear Phishing

Phishing involves the use of correspondence emails which in many cases trick web users. As a result, they end up revealing their credentials.

On the other hand, spear phishing emails are always deceptive as they are not automated like those in Phishing mails.

ATO Fraud & Impacts

Account take over is much far worse than customers turning away from your products/services. However, ATO attackers get control of the victim; they may launder money, make unnecessary eCommerce orders, or ruin the reputation of the customer.

As a result, a company is likely to incur losses, lose customers’ trust, and ruin their reputation. A lot of money would be lost to these cybercriminals, and as a result, they will stagnate the country’s economy.

Goals of Account take over

The major problem is not in taking over the account, but what they will do after they gain access to the account.

However, with enhanced account takeover protection, you may not suffer the wrath of your online foe.

Let’s see what they are after.

Phishing Campaigns
Credential Sale
Further Account Takeover
Business Email Compromise
Reputation Damage

Phishing campaign:

if today you hack the email of XYY Company, surely what could be your motive? Well, in many cases, they have been used for tricking other employees into providing their valid credentials, it will take time before such phishing is detected.

Credential Sale:

Credential of employers could be worth a lot of money in the black market, perhaps it’s the primary goal of some ATO attackers

Further account takeover:

this is just the beginning; the hacker needs access to your email so that they can find out about other more important information. They may be investigating you.

Reputation damage:

attack on the organization or personal online Account can result in a damaged reputation.

Attackers will use your credentials to compromise the data privacy and security of an organization. Reputation damage may be a long-term effect if not handled immediately.

What are the risks of account takeover?

There are vital areas that are usually hit by account take over frauds. The most destructive one is eCommerce while the other is in the financial institution. When account details are hacked, the information can be used to purchases a product that the real owner of the account doesn’t require.

When the real account holder discovers these abnormalities, they will be forced to claim their money. The entire process can result in mistrust, loss of funds, increased shipping charges, and any transaction disputes. Also, the more unsolved conflicts a company has, the higher risk of losing its brand name.

In the financial institution, account hacked can lead to loss of money. Hackers can transfer money from the victim’s account without leaving traces. So, if the account isn’t frequently and adequately monitored, many customers may lose a lot of money, although such activity can clearly show money laundering activity.

The third one is even more troublesome. Social media accounts.

Yes, social media accounts contain more sensitive and private user data including communication messages, pictures of friends and families, contact details, and lots more.

Such data falling into the wrong hands can be extremely embarrassing as well could lead to very potential and high impact repercussions.

Why Do Fraudulent People Take Over Accounts?

There are people out there who always want to prove themselves as worthy, that’s just one of the motives behind hacking accounts. The major one is to gain money as you can see so many hacked account login details sold on the internet.

Also, ATO attackers may aim to ruin the reputation a brand has struggled to build.

Imagine losing your entire savings to the hacker; will you very trust your banking account?

The answer is no, the trust is broken, and that’s what hackers achieve.

What type of data is used for an account takeover?

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Account take over prevention steps

It doesn’t matter whether you are hacked or not, but what is important is how to prevents it even before it begins.

Account takeover protection steps are essential to distinguish yourself from the victim’s category. It’s painful to lose what you’ve struggled to build, so go ahead and protect yourself from ATO attacks using these steps

Use the 2-Factor Authentication System: Using your regular password, you should add another layer of security. 2-factor authentication method requires the use of code sent either email address or phone number.

Bridging this step will not be easy for the ATO attacker.

Link identity to your accounts: consumer profile data, behavioral biometrics, and device identifiers can help retailers to record your pattern and behavior.

Any unusual activity may raise the alarm, thus adding an extra layer for account takeover protection.

Prevent credential stuffing:

when you receive an alert indicating a failed log in an attempt on your Account, don’t hesitate. Take immediate action and protect your Account, don’t give room for the hacker to steal your hard-earned money.

Check warning signs:

excessive login attempts, continuous personal information changes, and increased password changes is a clear sign of online account takeover attempts. If you don’t do these activities, think otherwise and secure your Account.

How can I stop an account take over attack?

Online Account Take over isn’t something new to us today; therefore, a good idea to keep updated on the current trend. You may learn some newly developed techniques the hackers are using to Take over your Account.

However, the most important thing is that you should be cautious about the data you dispose of the public on your social media accounts.

Also, never click website links you do not trust and in case of any suspicion with your account, do contact the relevant authority. Verify before you act. That would save a lot of unpleasantness in the future.

Always use a unique password to every website or application that you use to minimize impact.

Two-Factor Authentication (2FA)
Login Attempt Limits
Awareness & training
Sandboxing
WAF Configuration

Common Issues and Solutions:

Issue 1: Credential Stuffing

Problem: Reusing common passwords across multiple accounts makes it easier for hackers to gain unauthorized access through credential stuffing attacks.
Solution: Encourage users to use unique, complex passwords for each account and implement measures like password managers to facilitate secure password management.

Issue 2: Social Engineering

Problem: Hackers exploit personal information shared on social media platforms to manipulate individuals into divulging sensitive credentials through social engineering tactics.
Solution: Educate users about the importance of privacy settings on social media and raise awareness about common social engineering tactics to help them recognize and avoid potential threats.

Issue 3: Phishing and Spear Phishing

Problem: Phishing emails and spear phishing attacks trick users into revealing their credentials or clicking on malicious links, leading to account compromise.
Solution: Implement email filtering systems to identify and block suspicious emails, conduct regular phishing awareness training for users, and encourage them to verify the authenticity of emails before taking any action.

Additional FAQs:

Q: What type of data is used for an account takeover?

A: Hackers may use various types of personal information obtained from data breaches, social media profiles, or publicly available sources to facilitate account takeovers. This can include email addresses, phone numbers, names, and other identifying information.

Q: How can I stop an account takeover attack?

A: Preventing account takeover attacks requires a multi-layered approach, including implementing strong authentication methods like two-factor authentication (2FA), monitoring for suspicious activity, promptly addressing security vulnerabilities, and educating users about common attack vectors and prevention strategies.

Q: What are some advanced prevention techniques beyond 2FA?

A: In addition to 2FA, organizations can implement advanced security measures such as adaptive authentication, which analyzes user behavior and context to dynamically adjust authentication requirements based on risk levels. Other techniques include biometric authentication, anomaly detection, and continuous security monitoring to proactively identify and respond to potential threats.

Good references:https://en.wikipedia.org/wiki/Credit_card_fraud#Account_takeover

How To Avoid Account Takeover (and Be Safe)

What is account take over (ATO)?

Why should I care about ATO?