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How Account Hijacking Endangers Cybersecurity

By Tom Seest

What Are the Risks Of Account Hijacking In Cybersecurity?

At BestCybersecurityNews, we help entrepreneurs, solopreneurs, young learners, and seniors learn more about cybersecurity.

Account hijacking is a type of cybercrime in which hackers access a user’s computer or email account, potentially leading to identity theft and financial fraudulence.
Additionally, negative publicity can do extensive damage to a business’s reputation, leading to customer mistrust and lost revenue opportunities.

What Are the Risks Of Account Hijacking In Cybersecurity?

What Are the Risks Of Account Hijacking In Cybersecurity?

How Can Account Hijacking Lead to Identity Theft?

Account hijacking in cybersecurity refers to a type of cybercrime wherein an attacker uses an email account to impersonate a victim and access their online accounts. With this compromised access, they can steal personal information or conduct illicit activities. This attack may involve phishing attempts, sending fake emails, or password-guessing techniques.
Identity theft is a serious offense with potentially dire repercussions for its victims. They could lose their credit, be sued for debts that aren’t theirs, or have inaccurate information added to their medical records.
To protect your identity, it’s essential to regularly monitor financial statements, credit reports, and mail. If anything appears suspicious, contact your bank and credit agencies immediately to report it.
You may file a complaint with the Federal Trade Commission (FTC) to report any identity theft you’ve experienced. Doing so will assist law enforcement in catching and prosecuting thieves.
Identity theft can take many forms, including child identity theft – when someone impersonates a child and uses their personal information for illegal purposes such as opening new bank accounts, applying for credit cards, or making unauthorized purchases.
It is essential to remember that many identity theft victims do not become aware of their stolen identities until they start receiving calls from creditors or their credit score has declined. This can have a devastating effect, both financially and emotionally, for them.
Identity theft usually begins with unusual charges on credit card statements or an abrupt increase in monthly bills. You might receive a letter from the IRS or get a call from your creditor asking about unauthorized charges.
Your Social Security number being stolen can cause major difficulties when applying for jobs and getting loans. You might need to pay more on your mortgage or rent payment or be denied a car loan.
In addition to financial losses, you could experience a negative effect on your credit report and be denied insurance or other benefits. Criminals may steal funds from your Social Security account or commit other forms of identity theft like filing false tax returns or taking advantage of government benefit funds.

How Can Account Hijacking Lead to Identity Theft?

How Can Account Hijacking Lead to Identity Theft?

How Does Account Hijacking Lead to Fraud?

Account hijacking is a type of cybersecurity threat that involves the taking over of an account or profile. It often takes place through hacks or automated tools and can cause serious issues for both individuals and businesses alike.
Account hijacking often results in the victim being locked out of their account and unable to make purchases or engage with content. This can create customer mistrust and potentially lost revenue opportunities.
This type of attack may also be the beginning of identity theft. Once an attacker gains control of an account, they can use that data to make fraudulent purchases or drain the victim’s bank accounts.
Hijacking can be prevented through multi-factor authentication and other security measures. Furthermore, keeping software and operating systems up to date is essential in order to guarantee hackers do not exploit vulnerabilities to access user sessions.
Account hijacking can be prevented in several ways, but the most efficient solution is to safeguard user identities and shield sensitive information. This can be achieved through additional login requirements, captcha tests, and two-factor authentication.
In addition to traditional account takeovers, hackers now employ smarter tools and techniques to phish, install malware, or trick users into clicking on links. Countering these tactics becomes more challenging due to their requirement of intimate knowledge of the network an account resides on and, thus, accessing its data.
Another way to protect against this cyber threat is by not signing up for online services that don’t verify email addresses. This practice, known as account pre-hijacking, can occur on many popular services.
Therefore, it is recommended to create a separate email address for each of your most important accounts. Furthermore, always use strong passwords and never share personal information with anyone.
Recent internal documents released by Meta, a cybersecurity company, revealed that its contractors and employees had been abusing an account recovery tool called Oops to illegally hijack Instagram accounts. This abuse nearly doubled between 2017 and 2020.

How Does Account Hijacking Lead to Fraud?

How Does Account Hijacking Lead to Fraud?

How Does Account Hijacking Put You At Risk?

Account hijacking in cybersecurity refers to a type of cyber fraud where an attacker takes control of another person’s account and uses it for malicious purposes. This could involve anything from social media profiles to bank portals and can occur through various methods, such as stealing passwords or employing automation tools that repeatedly attempt to access said accounts.
This type of fraud often involves the use of email accounts to send malicious content and spread malware. This could include sending a fraudulent message to someone in your circle that includes links and attachments.
An attacker uses cognitive biases people possess to manipulate them into handing over personal information and other sensitive data. These errors, also referred to as “bugs in human hardware,” can be exploited through various techniques used by hackers to gain access to someone’s account.
Some of the most prevalent social engineering techniques include phishing, pretexting, baiting, quid pro quo, and tailgating. Phishing is particularly popular as it capitalizes on people’s fear and sense of urgency when they receive an email with a link or file attached.
Phishing involves the scammer posing as an authorized company or individual and soliciting personal details in exchange for access to a victim’s account. This can be done over the phone, through email, or through social media platforms.
Phishing has become particularly prevalent since 2011 when hackers sent two different phishing emails to a small group of RSA employees over two days. These emails contained malicious code that could install a backdoor into their SecurID authentication system.
Other social engineering techniques involve impersonating an employee or technician to gain entry to an office or building and stealing company secrets. In some cases, criminals might even pose as fire marshals or exterminators in order to go undetected while robbing a business.
These tactics rely on six principles of influence developed by behavioral psychologist Robert Cialdini: Reciprocity, Commitment and Consistency, Social Proof, Authority, Liking, and Scarcity.

How Does Account Hijacking Put You At Risk?

How Does Account Hijacking Put You At Risk?

How Can Account Hijacking Impact Cybersecurity?

Account hijacking in cybersecurity refers to a type of cybercriminal attack that involves taking control of an authentic account to access sensitive data or make fraudulent purchases. It usually involves phishing and spoofing techniques targeting corporate, supply chain, or email accounts.
In many cases, an attacker will impersonate the original user to gain access to a targeted account. They then exploit website functions for their own gain, often transferring money or purchasing items for themselves. Once stolen information is sold to other malicious actors who can use it to steal other people’s identities and commit fraud against them.
Phishing attacks are one of the most frequently used methods for account takeover, but other techniques exist as well. These could include accessing an employee’s mailbox or other sensitive details through social engineering tactics. Unfortunately, these threats can result in fraudulent credit card charges, rerouted payments without authorization, and more.
Business email compromise (BEC) attacks are a popular form of account takeover that’s especially hazardous for businesses since many organizations communicate via corporate email. Once an attacker gains control over a company’s email system, they can assume the identity of any employee to send malicious emails and exfiltrate sensitive data.
Criminals find this type of attack highly profitable, as it gives them access to valuable information like stored credit card data and personal identification data. They then resell this data on the dark web for a profit.
Multi-factor authentication was once the go-to defense against account takeovers, but it’s no longer effective. Organizations should instead invest in AI-powered network detection and response tools that detect and prevent account hijacking before it occurs.
Once an account has been compromised, it can be challenging to restore it. Many users may hold the organization responsible for what has transpired and may be reluctant to reopen their accounts or provide new information.
Companies should have an intuitive process for restoring an account that has been compromised. Furthermore, they need a communication plan that guarantees users their accounts will be restored promptly, and they’re secure from further unauthorized transactions.

How Can Account Hijacking Impact Cybersecurity?

How Can Account Hijacking Impact Cybersecurity?

Please share this post with your friends, family, or business associates who may encounter cybersecurity attacks.