What is email account takeover?
Email account takeover occurs when a fraudster gains access to a legitimate user’s email account through data breaches that expose credentials, purchasing from the dark web, or phishing scams. Email account takeover can be even more complicated and harmful when it is executed in pursuit of a cross-account takeover. In this type of attack, the fraudster gains access to an email or mobile account, executes a password change or one time password, and takes over a victim’s account with their financial institution to facilitate the transfer of funds from the compromised account.
Preventing email account takeover loss
In order to prevent email and cross account takeover loss your business needs to maintain and continuously reaffirm confidence in the identity data you collect. Your team can monitor, segment, and proactively act on customer identities that display a higher risk of fraud than was determined at account origination through identity risk scores, link analysis, and email intelligence decisioning solutions.