For many businesses, cybersecurity threats no longer look like dramatic Hollywood-style hacks. Instead, some of the most damaging attacks begin with something much simpler—a stolen username and password.

Account takeover (ATO) fraud occurs when cybercriminals use compromised credentials to gain access to legitimate business accounts, often without being detected until financial loss or operational disruption has already occurred. During July’s Ransomware Awareness Month, it’s an important reminder that protecting your login credentials is one of the first lines of defense against larger cyber threats.

Once fraudsters gain access to a business account, they may attempt unauthorized wire transfers or ACH payments, change account settings, steal sensitive company information or use the compromised account as a gateway for ransomware attacks.

These incidents often begin with phishing emails, fake login pages or malware designed to capture usernames and passwords. In some cases, cybercriminals purchase stolen credentials on the dark web and use automated tools to test them across banking and business platforms.

For business owners, the consequences can be significant. Financial losses, reputational damage and operational downtime can all result from a compromised account. Because ransomware attacks frequently begin with unauthorized access to a legitimate user account, strengthening credential security can help reduce broader cybersecurity risks.

Fortunately, businesses can take several proactive steps to help reduce the risk of account takeover fraud:

• Enable multifactor authentication (MFA) on all financial and business accounts whenever possible.
• Use strong, unique passwords and avoid reusing credentials across platforms.
• Educate employees about phishing scams, suspicious links and social engineering tactics.
• Monitor account activity regularly and establish alerts for unusual transactions or login attempts.
• Restrict user access based on job responsibilities and remove unused accounts promptly.
• Keep software, antivirus protection and operating systems updated to help defend against malware.

It’s also important to establish a response plan before an incident occurs. Knowing who to contact—including your financial institution and internal IT team—can help your business respond quickly if suspicious activity is detected.

Cybersecurity threats continue to evolve, but awareness and preparation can go a long way in protecting your business. During Ransomware Awareness Month and throughout the year, taking steps to safeguard credentials and strengthen internal controls can help reduce the risk of account takeover fraud and help keep your business secure.

Our Treasury Management solutions are designed to help you enhance visibility, control and security across your financial operations. From customizable user permissions and dual-control payment workflows to robust reporting and fraud mitigation tools, we help you establish safeguards that align with your business structure. To learn more about how Busey can help you safeguard your business, visit busey.com/treasurymanagement.

If you believe you’ve been the victim of fraud or a scam on a Busey account, contact our Treasury Management Support team, reach out to your Relationship Manager or follow these steps outlined by the FBI Internet Crime Complaint Center. For more information, you can also read our Fraud Prevention FAQs, check out our Fraud Prevention Toolkit or view our Payments Fraud Trends & Prevention booklet.