What action do thieves typically take to gain access to an account for takeover fraud?

Thieves typically employ phishing techniques to steal account login information as a primary strategy in takeover fraud. Phishing involves tricking individuals into providing sensitive information, such as usernames and passwords, often through deceptive emails, texts, or websites that appear legitimate. This method exploits the trust that users have in familiar brands or services, leading them to inadvertently disclose their credentials to the fraudster.

Once the thieves have obtained this login information, they can easily access the victim's account and perform unauthorized transactions or changes. This makes phishing a particularly effective and common tactic in account takeover scenarios, as it directly targets the credentialing mechanism of the account, bypassing many security measures that might otherwise protect the account holder.

In contrast, resetting a password using the account number may require additional verification steps that could thwart a fraudulent attempt. Sending unsolicited postal mail does not directly compromise account security or information but could be part of a broader scam. Finally, contacting the bank to request changes typically requires knowledge and verification of the account details, making it less likely for thieves to succeed without first acquiring valid login information.