What is Account Takeover Protection?
There are several attempts by online hackers or cyberbullies that try their best to take over the consumer’s accounts. Recently, such cases are increasing and due to such a high rise in account takeover events, people are now turning to the ways of implementing account takeover protection.
Account takeover is a sort of attack that is done by cybercriminals. As a result of such attacks, they take ownership or account handling upon themselves. This can occur due to several dark portals and is supported by keeping weak and unprotected passwords.
Therefore, today we will discuss more what is account takeover protection and how can it be implemented?
What is account takeover fraud?
To understand what is account takeover protection it is important to get a rough idea about what is meant by account takeover fraud. This term can be defined as the taking over, compromising, or hacking of the account to take the control of an individual’s account or system.
Once the cybercriminals are into your account, they can carry out various forms of attacks to jeopardize your image. Some of the basic attacks that often occur due to account takeover fraud are mentioned below.
- Internal snitch
If the attackers hack into your professional or work account and they have some personal grudges from you. Then the risks of them defaming you in front of your colleagues are much higher. The attackers can send several forms of emails to your boss, employees, and customers making you look like a snitch and a disloyal person.
- Hack personal files and information
The next common attack is often done by gaining access to your personal and confidential information. The attackers can leak that information to the world and there can be the worst consequences for such actions.
- Financial attacks
Attackers can gain access to your bank accounts and mobile payment applications as well. They can take all the amount under their authority and can also steal funds.
What is account takeover protection?
Account takeover protection is done to prevent cases of account takeover fraud activities. Online fraudulent attempts have now developed and taken a new form in the last few years. Now, it is not only revolving around the stolen credit, debit, or atm cards and bank accounts.
It is much more than that of which the majority of people are still unaware. Hence, the organizations and online modern banking systems need to build confidence to make sure the customers about the safety their online applications offer.
How to implement the account takeover protection?
To keep your customers satisfied you need to know how to implement account takeover protection. Hence, ways in which you can do it are mentioned in further detail below.
- Add the limitation regarding login attempts
The addition of limits when it comes to logging into your account should be set up. The limit should be at least up to 3 attempts. If the account shows more than three wrong attempts it should be marked as suspicious and should be blocked for some time.
- Send the account owners a confirmation message
The next effective way in which account takeover protection can be practiced is to send a confirmation message or email to the owner of the account. So that if it was not them to log in, they can report immediately and ask for further details.
- Send code to the owners for further processing
Generating codes on every attempt into the customers’ accounts can be a safe way to confirm the identity of the user. This can be done by sending a code to their user’s mobile number and asking them to enter it for completing their online payment or transactions.
- Send notifications of any changes made
Yet another way to do account takeover protection is to send a notification to the owners if some changes were made. Doing this will keep it safer for the users and they can notice if some suspicious activities are occurring in their account.
Conclusion
Account takeover protection is an initiating way of developing trust between an organization and customers. Hence, if you are looking out for more details about it and how to do it then make sure to give the mentioned information a thorough read.
Image source: Pexels