Account Takeover Fraud is a serious problem that affects businesses of all sizes and across industries. It can lead to significant financial losses, legal repercussions and damaged credit ratings.
ATO prevention software is an important solution for preventing ATO fraud from occurring. This software uses advanced data analytics and security protocols to detect and prevent ATO attacks before they happen.
Myth 1: ATO can’t occur online
ATO attacks are more common on mobile devices than on desktops, as they give cybercriminals physical access to a device, which makes it easier to hack. But even offline accounts can be taken over if a victim’s login credentials are stolen or the device is lost.
Choosing the Right ATO Prevention Software: How to Keep Your Online Accounts Safe and Secure
Myth 2: ATO can’t be prevented by two-factor authentication (MFA) or hardware keys
A strong account authentication process is an essential tool for preventing ATO fraud, as it allows users to verify their identity with a unique security code before they can use their account. It also offers a layer of protection from hackers who may try to access your system using weak passwords or other vulnerabilities.
Myth 3: ATO can’t be prevented by phishing scams
Phishing scams are an effective way to trick people into giving away their credentials. In these attacks, a fraudster will use an email that appears to be from your organization. The email will contain a link that takes the victim to a phishing site. The phishing page will look authentic, so the victim enters their information.