Case Studies

Sound Business Practices for Companies to Mitigate Account Takeover

Sounds Business Practices to Mitigate Risk

Sound Business Practices for Third-Party Service Providers to Mitigate Account Takeover

NACHA’s Risk Management Advisory Group has developed the following sound business practices for Third-Party Service Providers to consider when reviewing and implementing security procedures to mitigate the threat of Account Takeover.

Account Takeover: What You Need to Know

Account Takeover is a type of identity theft in which a criminal steals a business’s or individual's valid online banking credentials and then uses those credentials to initiate funds transfers out of the account. Businesses can be targeted due to the lucrative nature of the targets, as well as consumers because individual accounts often do not have the same protections and levels of security that are regularly applied to business accounts.