Author/Source: The Hacker News See the full link here
Takeaway
This article explains how criminals are stealing money by taking over people’s online accounts. You will learn about the common tricks they use, like fake messages and trying stolen passwords, and how much money people are losing.
Technical Subject Understandability
Beginner
Analogy/Comparison
Account takeover is like a burglar getting a copy of your house key and then using it to get into your house and steal your belongings.
Why It Matters
It matters because people are losing a lot of money when criminals take over their online accounts. For example, the FBI reported that victims lost $262 million to this type of fraud in just one year.
Related Terms
Account Takeover (ATO), Phishing, Credential Stuffing, Multi-Factor Authentication (MFA), Internet Crime Complaint Center (IC3). Jargon Conversion: Account Takeover (ATO) means when someone else takes control of your online account. Phishing is a trick where someone pretends to be a trusted company to get your personal information. Credential Stuffing is when criminals use stolen usernames and passwords from one website to try to log into your accounts on other websites. Multi-Factor Authentication (MFA) is an extra security step that requires more than just a password to prove it’s you. The Internet Crime Complaint Center (IC3) is a place where you can report crimes that happen online.


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