The $13 billion problem: Tackling the growing sophistication of account takeovers

Fraudsters have used account takeovers (ATOs) to victimize 29 percent of internet users, resulting in $13 billion in losses in 2023. Over three-quarters of security leaders listed ATOs as one of the most concerning cyber threats, and the danger grows as bad actors leverage AI to launch more potent attacks. The Snowflake breach demonstrates the devastating consequences of ATOs. Attackers gained access to 165 of the data platform’s customers’ systems, including AT&T and Ticketmaster, and exfiltrated hundreds of millions of records containing sensitive data. The attack wasn’t some brilliant hacking scheme -- the bad actors simply used legitimate credentials to… [Continue Reading]