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Account Takeover (ATO)

Overview

Account Takeover (ATO) is a type of identity theft where fraudsters gain unauthorized access to a user's existing account by stealing or compromising their login credentials. This form of cybercrime has become increasingly prevalent in the digital age, affecting financial institutions, e-commerce platforms, and social media accounts.

ATO attacks typically involve the use of stolen usernames, passwords, or other authentication factors to impersonate legitimate users and conduct fraudulent activities. The consequences can be severe, including financial losses, data breaches, and damage to user trust.

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Related Terms

Credential Stuffing

SIM Swap

Multi-factor Authentication (MFA)

FAQ

What types of firms are regulated under MiFID II?

MiFID II applies to investment firms, market operators, banks offering investment services, and data reporting service providers across the EU.

What is the role of LEIs under MiFID II?

Legal Entity Identifiers (LEIs) are mandatory for identifying counterparties in transaction reporting.

How does MiFID II affect retail investors?

The directive increases transparency, requires disclosure of costs and charges, and mandates suitability assessments before selling complex products.

Are non-EU firms affected by MiFID II?

Yes. Non-EU firms providing investment services to EU clients may also need to comply with specific access and equivalence requirements.