Why You Should Monitor Merchant Clients' Systems For Account Takeover This Holiday — And Beyond

By Bernadette Wilson

NuData Security Online Fraud Detection Threat Research reveals attacks via account takeover are increasing. The research shows account takeovers have topped credit card cycling as a more popular means of fraud, and high-risk login attempts increased 14 percent in the month before Thanksgiving.

Ryan Wilk, director of customer success for NuData Security, explains the findings: “This shows us that thieves are beginning to value user accounts with payment information attached more than credit card details themselves, and puts additional burden on the e-commerce organization to protect their communities.”

This creates the need to guard against cyberattack and watch for signs of breaches during the holiday shopping season — but vigilance can’t end after New Year’s Day. “Merchants are continually at risks from cyberattacks as you can never fully predict when they’ll strike,” Wilk says. “The major change in 2014 has been the increase in highly visible data breaches. This means that there are treasure troves of stolen usernames and passwords available to download by anyone, and because so many users recycle their credentials across their full web ecosystem, hijacking online shopping accounts has become easier than ever.”

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