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Cyber Account Takeover
One of the common ways that fraudsters commit these scams is through cyber account takeover – the ability to take control of an online account by stealing a user’s login credentials or hijacking an online session. Once in control of an account, a fraudster steals funds by initiating outgoing wires or ACH transactions, which can be extremely difficult – if not impossible – to recover if not identified timely.
One of the common ways that fraudsters commit these scams is through cyber account takeover – the ability to take control of an online account by stealing a user’s login credentials or hijacking an online session. Once in control of an account, a fraudster steals funds by initiating outgoing wires or ACH transactions, which can be extremely difficult – if not impossible – to recover if not identified timely.
