FBI Reports $262M in ATO Fraud as Researchers Cite Growing AI Phishing and Holiday Scams
The Federal Bureau of Investigation (FBI) in the United States has issued a warning about cybercriminals posing as financial institutions in order to steal money or sensitive data in order to support account takeover (ATO) fraud operations.
According to the agency, the activity targets people, companies, and organizations of all sizes and in all industries. Since the beginning of the year, the fraudulent schemes have resulted in losses of over $262 million. Over 5,100 complaints have been filed, according to the FBI.
Attacks that allow threat actors to acquire unauthorized access to an online financial institution, payroll system, or health savings account in order to steal information and money for their own benefit are sometimes referred to as ATO fraud. The access is frequently g...