“Stolen credentials are used to commit fraud on an enormous scale through Account Takeover (ATO) or credential stuffing attacks. Hackers test stolen usernames and passwords leaked in third-party data breaches on other websites in the hope that they might find a match and gain access.”
That means they use the compromised credentials from say Harris Teeter on your email, bank, investments, frequent flyer miles and any other thing they think is valuable. That means if you use the same password / login on everything you are only as secure as your weakest link which probably has no financial value and is the easiest to break. i.e. your library account or your Harris Teeter online shopping account.
Once again I’d like to caution users with free email accounts like yahoo, gmail, AOL etc. You MUST have good PROFILE data in your account. If you lose your password. Scammers are now taking over people’s emails because THEN they can basically take over your world. THERE IS NO CUSTOMER SUPPORT FOR FREE EMAIL. THERE IS NO ONE WHO WILL HELP WITH THIS. Not even my super powers can fix a compromised email account with incorrect profile information.
Virtually all websites have automated password solutions that rely on your email and/or cell phone of record. What happens when your email of record is hijacked by a scammer? Well, you are shut out and the scammer can change every single password using your stolen email account as verification. Just another reason for “paid for” email. Free email has no customer service for “I’ve been scammed” but PAID for email does. Additionally you have a way to confirm who you are via your charged credit card. Paid for email is $50.00 per year but meanwhile, please make sure you have tied other people’s emails (wife/friend) and your current cell phone to your email account.
Do this today!
Account Takeovers ATO