Examining Account Takeover Fraud

Learning Objectives

• To examine Fraud trends for 2023 and beyond.
• To discuss account takeover fraud trends.
• To analyze how account takeover occurs.
• To evaluate detection strategies for account takeover.
• To explain prevention strategies for account takeover.
• To examine statistics of account takeover fraud trends in 2023 and beyond.

Course Description

Are you concerned about fraud risks and want to learn more about the latest fraud trends? Look no further than our Five-Course Series on Fraud Trends for the Future. The series focuses on the evolving tactics used by fraudsters and how to mitigate the risks associated with them. The initial segment of this series will focus on fraud trends that have been identified for 2023 and beyond. Broadly, these trends include: 

• Automation
• Account Takeover
• Adoption of new digital payment methods
• Balancing fraud and consumer Friction
• Rise of synthetic identities
• The escalating cost of fraud
• Targeted attacks
• Strong need for real-time assessment
• Need for multi-layered fraud assessment
• Account Security

In the first course of our Fraud Trends for the Future series, we delved into the world of automation and machine learning fraud. In this second course, we will focus on account takeover fraud and its various causes. Account takeover is a type of identity theft that occurs when a fraudster gains access to an individual's or company's computer accounts, email accounts, and other personal information. In a typical attack, hackers use phishing and malware methods to acquire legitimate user credentials or buy them from the dark web, which they then use for account takeover.

Automated takeover attacks are carried out using stolen credentials, and organizations are particularly vulnerable to these attacks. A takeover can lead to a variety of crimes and direct financial losses, including bank account takeovers (Current accounts, credit cards), money laundering, stealing loyalty or reward points, and reselling subscription information.

By enrolling in this CPE course, you'll gain valuable insights and strategies to mitigate account takeover fraud risks. Our expert instructor Lynn Fountain will delve into the latest trends and methods used by fraudsters, as well as practical steps you can take to prevent and detect account takeover attacks.

Overview

• Fraud Trends

  6 mins
• Account Takeover

  14 mins
• Password managers

  25 mins
• Broken authentication

  39 mins
• Account takeover prevention methods

  53 mins
• Business impact of fraud

  69 mins