The impacts of account takeover fraud are genuine. According to the Javelin 2022 Identity Fraud Study, 22% of U.S. adults have been victims of account takeover attacks. This type of fraud can have devastating financial and personal consequences when criminals gain access to accounts and exploit them for theft and abuse. Understanding account takeover and how it happens enables individuals and businesses to better detect and prevent these schemes.

Major businesses from around the world are losing valuable login credentials at a rapid rate. Huge corporations are going through applications with platforms like Hubspot, Salesforce, AWS, Google Cloud Platform, DocuSign, and so many others, and during the process, they are losing valuable login credentials. Huge numbers of businesses are being compromised by hackers looking at these many different services, and it's becoming a very real problem that most companies aren't talking about today.

Maximus Federal Services is a significant government contractor that helps administrate many different US government programs. The company manages programs like local healthcare, student loan servicing, and many federal services. With more than 34,300 people employed by the company and a revenue that reaches more than $4.25 billion annually, the company manages a vast store of data that includes personal and health-related data for millions of Americans.

1st Source Bank is a major financial institution located in Indiana and Michigan. The bank is headquartered in South Bend, Indiana, but there are 81 branches in the two states. Between these branches, there is a large number of employees and hundreds of thousands of customers. Many of those customers lost their personal data thanks to a recent breach.

Near the end of July, the MOVEit data breaches that occurred back in May are still doing serious damage and hurting major companies. Three of the five breaches reported this week were due to MOVEit-related attacks, including Milliman Solutions, the National Student Clearinghouse, and 1st Source Bank. The other two companies that suffered from major data breaches this week are Microsoft and the Tramp General Hospital.

Microsoft is a large tech company based in the United States with operations in many other parts of the world. The organization is best known for its computer operating systems and its Microsoft 365 suite of business applications. The company employs more than 220,000 individuals and is involved in the management of countless businesses around the world.

IBM Security has released its annual Cost of a Data Breach Report, revealing that the global average cost of a data breach reached $4.45 million in 2023. This marks a significant increase of 15% over the past 3 years, making it the highest recorded cost in the history of the report. Notably, detection and escalation costs have seen a substantial rise of 42% during the same period, indicating a shift towards more complex breach investigations.

The National Student Clearinghouse is a verification tool used by educational establishments around the country to verify students are who they say they are. More than 3,600 colleges rely on the services of the organization founded in 1993. A huge number of students rely on the organization to process their information, and some of that data was taken in a recent breach.

Tampa General Hospital is a mid-sized medical facility that caters to locals in the Tampa area. The hospital has 1,040 beds available and serves as a research and academic center, along with offering tertiary care to its patients. The facility is located in Tampa, Florida, and is an essential hospital for maintaining the care of patients throughout the area. The hospital was recently hacked, exposing more than 1.2 million patients that depend on the facility for medical services.

Milliman Solutions is a risk-assessment company that works with life insurance providers to explain to them the total risks involved with investing in any one individual. The company is headquartered in Seattle, Washington, and manages a huge amount of information for consumers on a daily basis. The organization employs over 3,000 individuals located in more than 59 separate offices.