The latest Sift‘s Q3 2025 Digital Trust Index data highlights a notable rise in account takeover attacks within the fintech and finance sector. The report shows a worrying 122% year-on-year increase, pointing to an escalating threat to the industry’s digital security.
These attacks typically involve cybercriminals accessing user accounts without permission. As we increasingly rely on digital platforms, the potential damage from these breaches grows. They can lead to financial loss, damage to brand reputation, and in severe cases, even business shutdown.
However, it’s not just the fintech and finance industry at risk. Travel and ticketing platforms also experienced significant increases in account takeover attacks. The data reveals a 56% year-on-year rise, implying that no sector is immune to this growing danger. Fraudsters often target accounts abundant in loyalty rewards, emphasizing the need for robust security across all digital platforms.
Addressing the Growing Threat
Given these alarming statistics, businesses must act decisively. The urgency for proactive steps to enhance digital security and protect user accounts is paramount. Fortunately, businesses can implement several strategies to protect themselves and their customers from account takeover attacks.
Firstly, adopting robust authentication methods can drastically reduce the risk of unauthorized access. Two-factor authentication, biometric verification, and behavioural analytics can add an additional layer of security. However, it’s essential to balance security with user experience, as overly complicated authentication processes may discourage users.
Moreover, educating users about the importance of strong, unique passwords and the dangers of sharing account details can significantly help prevent account takeovers. Since many breaches result from user negligence, raising awareness can be a potent tool against cybercrime.
To sum up, the increase in account takeover attacks presents a significant threat to all digital platforms, particularly the fintech and finance industry. Nonetheless, with appropriate measures in place, businesses can significantly mitigate the risks and protect their customers from this escalating threat.
