The U.S. Federal Bureau of Investigation (FBI) has warned that cybercriminals are impersonating financial institutions with an aim to steal money or sensitive information to facilitate account takeover (ATO) fraud schemes.

The activity targets individuals, businesses, and organizations of varied sizes and across sectors, the agency said, adding the fraudulent schemes have led to more than $262 million in losses since the start of the year. The FBI said it has received over 5,100 complaints.

ATO fraud typically refers to attacks that enable threat actors to obtain unauthorized access to an online financial institution, payroll system, or health savings account to siphon data and funds for personal gain. The access is often obtained by approaching targets through social engineering techn

See Full Page