Account Takeover – A Preventable Threat

preventing account takeover

Account Takeover: A Preventable Threat

One of the most common cyber threats your organization faces is preventing account takeover (ATO). These attacks cost organizations billions in lost revenue, and they can lead to a loss of trust from customers.

How to Prevent ATO:

80% of all security breaches are linked to credentials, so the best way to prevent ATO is to eliminate customer passwords entirely. Passwords are the only credential that can be used for brute force, phishing, guessing, intercept or bypass.

To protect your company against ATO, you must deploy a multi-layered, intent-based detection solution to identify malicious logins with low false positives and minimal impact on the user experience. This type of detection helps your organization to identify malicious traffic, allowing you to stop it before it harms your business or customer relationships.

The Importance of Strong Authentication for Account Takeover Protection

In the past year, account takeover fraud rates have risen 282% and losses from ATO fraud reached $3.3 billion. According to Aite Group, this is due to the emergence of automated credential-stuffing scripts and the underground economy that sells specialist tools and stolen personal data to fuel such attacks.

Detecting and preventing ATO can be difficult, and it requires an in-depth understanding of normal and abnormal account management activity. It also means providing a seamless customer experience that minimizes friction and avoids alienating customers and potential revenue.