Account takeover fraud happens when criminals gain access to your online accounts from hacking your email and shopping apps. Then they start using them like they’re their own. Once inside, they change passwords and lock you out. And if you use the same login for online banking they’ll try to move money before you notice.

This type of fraud has become one of the fastest-growing crimes, since personal information is stolen so frequently in data breaches. Many people use the same passwords across sites, which makes things even easier for fraudsters. The good news is that account takeover fraud isn’t inevitable. With the right habits, you can spot the signs early and protect yourself.

How Fraudsters Take Over Accounts

There isn’t just one way account takeover happens. Sometimes it starts with a phishing email or text that tricks you into entering your login on a fake website. Other times it begins when criminals buy passwords from a data breach and test them across different sites — a tactic known as credential stuffing.

Scammers may also try what’s called a SIM swap, convincing a phone carrier to move your number to a device they control so they can intercept texted security codes. And in some cases, malware hidden on your computer quietly records keystrokes and sends login details back to the fraudster.

No matter the method, the goal is the same: get inside your accounts before you realize what’s happening.

Lydia’s Story

Lydia, who runs a floral shop, used the same password for several accounts. When a retail site she shopped with was breached, her login ended up for sale online. Criminals quickly used it to get into her email, reset her bank login, and scheduled transfers.

When she spotted unusual activity, Lydia called 1st Source Bank right away. Our team locked down her accounts, blocked the transfers, and helped her set up better protections. Now she uses unique passwords, an authenticator app, and account alerts. Most importantly, she has peace of mind that her business is better protected.

Warning Signs Something’s Wrong

How do you know if someone is trying to take over your account? The first clues are often small. You may receive a password reset email that you didn’t request. Or you could get a security alert about a login from a new location. Some people notice that their usual text or email alerts suddenly stop showing up.

The most serious sign is finding unauthorized transactions, transfers, or charges. By that point, the criminal is already inside the account. That’s why it’s so important to take the earlier warning signs seriously

How to Protect Yourself Against Account Takeover

The best defense against account takeover is good digital hygiene. Start with strong, unique passwords for every account. A password manager makes this easier, generating and storing long, random logins so you don’t have to remember them.

Two-factor authentication adds another layer of security. Instead of relying only on a password, it requires a code from an authenticator app or device. While many services send codes by text, authenticator apps are harder for criminals to intercept.

Alerts are another powerful tool. By turning on login and transaction notifications, you’ll know immediately if someone is trying to use your account. Fast awareness means you can shut down the attempt before it goes further.

Finally, be cautious with links and attachments. If you’re not expecting an email, don’t click without checking the sender. And when in doubt, type the company’s address directly into your browser instead of following a link.

Think of online security like a regular health checkup. Every few months, review your passwords, update your recovery settings, and remove devices you no longer use. Creating backup codes or adding a secondary authentication method ensures you won’t be locked out if your phone is lost or replaced.

What to Do If It Happens to You

Even with good habits, account takeover can still happen. If it does call 1st Source Bank using the number on your card or our Report Fraud page so we can secure your account. Change your passwords and double-check that your contact details haven’t been altered. It’s also a good idea to set up new alerts to watch for further attempts.

If you suspect identity theft, report it at IdentityTheft.gov and consider freezing your credit with the major bureaus.

Remember, falling victim to fraud doesn’t mean you did something wrong. Criminals target everyone, and taking quick action can stop the damage.

Conclusion

Account takeover fraud is a growing risk, but you have the power to stop it. By creating unique passwords, turning on stronger sign-in security, and acting quickly when something looks suspicious, you can keep your accounts safe. And if something ever feels off, we’re here to help you recover and protect your future.