Hey Seller Community!
Here at Square, we work hard behind the scenes to help protect you against all types of fraudulent activity. We wanted to give you an update on one particular kind of fraud, known as Account Takeover. Read on to learn what it is, why it matters, and how we can work together to keep your account safe and secure.
What is an Account Takeover?
An Account Takeover happens when a bad actor logs into your Square account and uses it to commit fraud. To do this, they only need access to your email address and password.
How does an Account Takeover happen?
Stop and think: is your Square password the same as your email, bank, or an online shopping account? If any of those systems are breached, your Square account is immediately accessible.
Fraudsters will also target you with phishing scams that trick you into giving up your credentials. Additionally, anyone can guess simple, common combinations. Steer clear of number series (12345), your birthday, and “password.”
Why does an Account Takeover matter?
Account Takeovers can result in chargebacks and lost sales, and present a reputation risk if the fraudsters pose as your business.
How can you stop an Account Takeover?
You know your account best: which payments you processed, which bank account belongs to you, and when you last used your app or dashboard. Square sends notifications for unrecognized logins, email or password changes, security feature updates, and when a new bank account is linked. If something feels off, please report it to us immediately.
How does Square protect you?
Square’s Fraud Detection team is working diligently to ensure that any suspicious behavior on your account is reviewed promptly. We’ll reach out to you if we notice anything out of character. Then we’ll help you lock the fraudsters out, restore your settings, and get you back up and processing as quickly as possible.
Here's what it can look like:
