Account Takeover Fraud Caused $262 Million in Losses in 2025: FBI

The FBI reports that cybercriminals have caused over $262 million in losses due to account takeover (ATO) fraud schemes since January 2025. These criminals impersonate financial institutions to steal money and information, utilizing social engineering tactics such as phishing emails, fraudulent calls, and fake websites.

Victims are often tricked into providing their login credentials, including multi-factor authentication codes, allowing attackers to gain control of their accounts and quickly transfer funds to untraceable accounts, often linked to cryptocurrency. The FBI advises victims to contact their financial institutions immediately upon recognizing fraud and to report incidents to the FBI Internet Crime Complaint Center (IC3).