The best defense against account takeover fraud is you.

  • July 25, 2025

When it comes to online scams, the most dangerous is account takeover fraud. For more than half of all victims, such attacks start – ironically enough – with a friend request on social media.

By connecting with people they didn’t know, victims gave access to their social media feeds, inadvertently handing bad actors a treasure trove of personal information. Scammers then use that information to crack passwords for other accounts, including banking and investing, utilities, healthcare, shopping and more. Since about 70% of people use the same password across multiple accounts – one password is all a scammer needs.

Once they gain access to these accounts, scammers take over, pretending to be legitimate users. They can change passwords, steal personal information, request new credit cards, transfer funds and even take out loans at another financial institution.

Such attacks can be devastating. But there is one way to combat them. Don’t trust people you don’t know with information they don’t need.

Six ways to protect yourself against account takeover fraud:

  1. Be wary of social media invitations, especially from someone you don’t know, even if that person appears to be a “friend of a friend.”
  2. Choose strong, unique passwords and use a different password for every online account.
  3. Use Multi-Factor Authentication (MFA) to add an extra layer of security with more than a single validation mechanism.
  4. Regularly monitor your accounts for unusual activity, especially financial, shopping and loyalty programs.
  5. Get credit monitoring with alerts to be notified of any activity, including requests for new credit cards or other unauthorized access.
  6. Report suspicious activity or account takeover fraud to the relevant authorities, such as the FBI's Internet Crime Complaint Center (IC3).

Informing you on how to keep your accounts safe from takeover scams is another way Credit Union ONE is helping to protect you, your data and your finances.