Security in the Age of Technology

In our modern age of technology, cybercrime is on the rise – and attackers are getting more creative in how they attempt to break into your financial accounts.

In an effort to protect you and your family from financial breaches and identity theft, we’ve put together an explanation of the most recent trend in cybercrime – credential replay – and how you can protect yourself.

Credential replay is a two-step process. First, the online attacker intercepts your log-in credentials when you log into your account on a financial institution’s website. With those credentials, the attacker then attempts to log into your accounts at other financial institutions. Because many account holders use the same credentials across different institutions, the cybercriminals are able to access numerous accounts.

Any financial institution is vulnerable to this type of attack, and many overseas hackers are targeting major U.S. companies – banks, brokerage firms, credit card companies, etc.

The best method for protecting yourself from credential replay attacks is to use different log-in credentials for each of your financial accounts.  By doing so, cybercriminals will not be able to use credential replay to hack into your accounts.