The FBI’s Internet Crime Complaint Center (IC3) has issued a critical Public Service Announcement warning businesses and individuals about a sharp rise in Account Takeover (ATO) fraud. Since January 2025, over 5,100 complaints have been filed, with reported losses exceeding $262 million. These attacks are not limited to large corporations—they target organizations of all sizes across every sector.
What Is Account Takeover Fraud?
ATO fraud occurs when cybercriminals gain unauthorized access to online accounts—such as banking, payroll, or health savings accounts—by impersonating financial institutions. Using social engineering tactics like phishing emails, smishing (text), and vishing (voice calls), attackers trick victims into revealing login credentials, multi-factor authentication (MFA) codes, or one-time passcodes (OTP). Once inside, criminals reset passwords, lock out legitimate users, and quickly transfer funds to accounts often linked to cryptocurrency wallets, making recovery nearly impossible.
How Do These Attacks Work?
- Impersonation: Criminals pose as bank support staff or IT help desk personnel.
- Phishing Websites: Fraudulent sites mimic legitimate financial portals to steal credentials.
- SEO Poisoning: Fake websites are pushed to the top of search results to lure victims.
- Multi-Step Deception: Some schemes involve a second impersonator posing as law enforcement to gain additional sensitive information.
The FBI advises organizations to:
- Monitor accounts regularly.
- Use strong, unique passwords.
- Enable MFA on all accounts.
- Navigate to banking sites via bookmarks, not search results.
- Report incidents immediately at ic3.gov.
How Infinite IT Helps You Stay Ahead of Cyber Threats
At Infinite IT, we understand that cybersecurity isn’t just defense—it’s business resilience. Our solutions are designed to prevent ATO fraud and other evolving threats before they impact your operations:
1. Advanced Threat Detection & 24/7 Monitoring
Our managed security services continuously monitor your network for suspicious activity, leveraging AI-driven analytics to detect anomalies in real time.
2. Multi-Layered Authentication & Access Controls
We enforce strong MFA policies and deploy enterprise-grade password management solutions to secure credentials and reduce human error.
3. Employee Security Awareness Training
Phishing and social engineering remain the top attack vectors. Infinite IT provides ongoing training programs to help your team recognize and avoid these threats.
4. Incident Response & Business Continuity
Should an attack occur, our Cyber Incident Response Plan ensures rapid containment, forensic investigation, and recovery—minimizing downtime and financial loss.
5. Proactive Risk Assessments
We constantly evaluate your IT environment for vulnerabilities, ensuring systems are patched and hardened against exploitation.
Your Next Step
Cybercriminals are getting smarter, but so are we. Don’t wait until your business becomes a statistic.
Does your organization need a better cyber security strategy?
We can help protect your organization from ATO fraud and other advanced threats.
Fill out the form below and one of our specialists will be in touch for a no obligation consultation.