Account takeover fraud involves an attacker stealing an authorized user's credentials to access financial information or sensitive data. Credentials are often stolen by using phishing attack vectors that take advantage of person-to-person trust, such as fake login pages or invoice requests.
Once an attacker has account access, they can go undetected for months. During that time, they can harvest your organization's data and silently drain valuable assets.
As organizations conduct more and more business online, the growing reliance on digital communication networks has made all employees at risk of account takeover attacks. Certain departments — like IT, HR, accounting, and upper management — are especially at risk of corporate account takeover.
While there are many types of account takeover attacks, email account compromise and vendor account compromise are two of the most frequent attack vectors.
Email account compromise involves attackers gaining access to internal accounts. They observe how payments and deals transpire within the organization and note the victim's language patterns.
After an observation period, the attacker impersonates an employee, vendor, partner, or brand through a compromised account. They send an invoice or payment request that mimics the organization's internal processes for these requests. It is harder for SEGs to identify them as threats because they blend in with legitimate demands.
Before they are exposed as frauds, email account compromise attacks can end up causing your organization untold sums of money.
Stopping account takeover attacks requires swift action. You must act quickly to identify compromised credentials and deploy quick and strategic actions. Identifying security breaches requires real-time pro-active message scanning, that verifies user authenticity and provides robust protection and integrates easily into your existing systems.
IRONSCALES stops account takeover attacks at their source with tools that combine human intelligence with Al to identify anomalies and root out attackers.