Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Acquiring banks have a vested interest in helping their merchant clients stop eCommerce fraud, as it directly impacts the financial stability and reputation of both parties.

Account Takeovers 97

Account Takeovers Fraud Detection Phishing Fraud Prevention 97

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

Finovate

MAY 2, 2024

Permira has acquired a majority stake in behavioral biometrics company BioCatch. based global private equity firm Permira, has acquired a majority stake in the Israel-based company by buying out shares from Bain Capital Tech Opportunities and Maverick Ventures in a secondary transaction. billion, which is up from $1 billion last year.

Acquirers 52

Acquirers Account Takeovers Fraud Detection Fraud Prevention 52

PYMNTS

JANUARY 24, 2019

” In addition, ShopRunner announced it has acquired Precognitive , a solution that combines device intelligence, advanced behavioral analytics, and a real-time decision engine to enable companies to more accurately identify online fraud. ” This deal follows ShopRunner’s recent acquisition of mobile app Spring.

Acquirers 51

Acquirers Account Takeovers Online and Mobile Banking On-Demand 51

The Payments Association

NOVEMBER 20, 2024

Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft. They’ll use this fake person to acquire fraudulent lines of credit. which blends multi-factor authentication measures with AI risk analysis, can help merchants mitigate the effects of account takeover fraud.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

Fi911

JANUARY 18, 2024

Cybercriminals acquire personal information from one or multiple cardholders. They subsequently gain control over existing accounts, or establish new ones without the victim’s awareness. This can help prevent unauthorized transfers or purchases, especially in the case of account takeovers.

Account Takeovers 96

Account Takeovers MFA Fraud Detection Credit Cards 96

PYMNTS

JANUARY 28, 2021

This new vigilance is the result of rampant cybertheft throughout the pandemic, from brazenly diverting government Paycheck Protection Program loans to the bad businesses of credential theft and account takeovers. Much of this is caused by criminals sensing opportunity. It’s on banks to deter them.

Federal Trade Commission 97

Federal Trade Commission Scams Account Takeovers Fincen 97

PYMNTS

JULY 1, 2019

Account Takeovers Plague the QSR Industry. Cybercriminals can obtain stolen identities for as little as $4, meaning it’s easier than ever for them to launch account takeover (ATO) attacks. Such details can also be acquired via phishing schemes. CNP schemes hurt businesses as much as they hurt consumers.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

Fi911

JULY 19, 2024

It includes fraudulent transactions, account takeover, and identity theft. Issuing banks don’t need to explain their decisions, while acquiring banks and merchants know exactly what documentation is required for representment. EMV Liability Shift Counterfeit Fraud 10.2: EMV Liability Shift Non-Counterfeit Fraud 10.3:

Disputes 92

Disputes Duplicate Non-Bank Authorization 92

The Fintech Times

AUGUST 17, 2024

Global data and technology company, Experian has acquired NeuroID , the behavioural analytics firm, to expand its fraud risk suite. The new partnership will see Experian implement NeuroID’s modern capabilities which will in turn provide a new layer of insight into digital behavioural signals and analytics.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

PYMNTS

JANUARY 11, 2021

The great digital shift – and the rising tide of eCommerce – has placed greater pressure on companies to verify their customers and guard against account takeovers. To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million.

Fraud Prevention 63

Fraud Prevention Account Takeovers ATM Addressing 63

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. acquire personal data via account takeovers. If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

OCTOBER 29, 2018

If those attacks are successful, cybercriminals would acquire unauthorized customer data that could possibly be used in an account takeover (ATO) or another form of cyberattack. Digital fraudsters could target data as it’s being transmitted by APIs.

Security 76

Security Payment APIs and Integration API Authentication 76

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. Account takeover (ATO) fraud: Brute force or stolen information is used to access an existing, legitimate bank account.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

Fintech Finance

FEBRUARY 29, 2024

Merchants are experiencing significant conversion drop-offs and subsequent revenue loss when acquiring new consumers who are required to complete KYC as part of their onboarding. Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

PYMNTS

MAY 20, 2020

As bad guys wrangle account details, cobble together synthetic identities and conduct account takeover attacks with ferocity, the old rules-based systems, password challenges and other lines of defense provide only part of the picture as to whether “good” customers are buying or “bad” actors are, well, getting away with it.

Issuers 83

Issuers Fraud Prevention Online and Mobile Banking Rules 83

PYMNTS

JUNE 12, 2018

In a press release, Entersekt said that with financial institutions (FIs) and other outside industries seeking innovative, user-friendly ways to authenticate sensitive data and accounts, its business in North America is growing. That, Entersekt said, provides companies and their customers with protection to fight account takeover fraud.

Authentication 40

Authentication Account Takeovers Data Breach Acquirers 40

Fintech Finance

MAY 30, 2024

Mangopay’s Fraud Prevention solution provides a fully integrated and payment processor-agnostic AI-driven cybersecurity solution to guard against an evolving range of threats, including account takeover by both bots and humans, reseller fraud, payment fraud, chargebacks, and return abuse.

Fraud Prevention 52

Fraud Prevention AI Payment APIs and Integration Fraud Detection 52

PYMNTS

NOVEMBER 25, 2016

“We’ve been talking about this regardless of the holiday season, about fraudsters automating the retrieval of the stolen data, the execution of the fraud and the selling of the goods that they acquire. That sets the stage for account takeover situations, said the executive. One thing that is important to know,” said Reitblat.

Fraud Prevention 73

Fraud Prevention Credit Cards Account Takeovers Breach 73

PYMNTS

NOVEMBER 30, 2017

Fraud is on the rise, especially account takeover fraud , and the growing sophistication of fraudsters – paired with the massive quantities of credit card and personal information now available on the dark web – could create a perfect storm for cybercriminals around the world this holiday season. The Downside of Global.

Account Takeovers 42

Account Takeovers On-Demand Data Breach Accounts 42

PYMNTS

NOVEMBER 22, 2017

Account takeover fraud , card-not-present (CNP) fraud, tax fraud, selling stolen financials, selling fake bank accounts, the Dark Web: If security experts are fighting it today, chances are that Brett Johnson was there when it started. Account takeovers , said Johnson, are easy. Lessons Learned.

Account Takeovers 48

Account Takeovers Law Enforcement Push-to-Card Crime 48

PYMNTS

JUNE 1, 2020

He cautioned that security is not just a merchant problem, and that as time goes on, we’re likely to see the bad guys move quickly to account takeovers, a tempting target especially given the stimulus payments that have been making their way into bank accounts. Looking At Digital IDs — And Friction.

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

The Fintech Times

MARCH 18, 2024

These malicious scammers are growing in number and refining their strategies, employing ever more sophisticated methods, including account takeovers, synthetic identity fraud, and social engineering scams. In the UK alone, fraudsters syphoned off £1.2billion in 2022, with almost 80 per cent of app fraud cases starting online.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

PYMNTS

APRIL 26, 2017

To help such merchants, Feedzai taps into its network of partners, marketplaces and large acquirers that aggregate data for 60,000 to 100,000 merchants. However, even today it’s not uncommon to find companies eager to combat fraud but lacking in customer data, Sebastiao explained.

AI 48

AI Account Takeovers Use Case Addressing 48

PYMNTS

APRIL 30, 2019

McDonald’s acquired artificial intelligence (AI) developer Dynamic Yield in March for more than $300 million to revamp its drive-through touchscreens and self-serve kiosks for better personalization. The surge in these mobile order-ahead apps is being driven by consumers for the most part. Fewer than half — 44.5

Account Takeovers 40

Account Takeovers Best Practices Venmo Assessments 40

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

PYMNTS

JANUARY 30, 2018

In an illustration, Taussig said that someone involved in an account takeover may be on a device that clearly is recognized as belonging to a fraudster. The customer – in this case, the bank – will want to know that this identity has been compromised and may represent a high-risk transaction. .

Non-Bank 43

Non-Bank Database Compromise Account Takeovers 43

PYMNTS

AUGUST 12, 2016

Then, there was the announcement of Square Capital’s partnership with Upserve , a restaurant management system (the same one that also acquired Breadcrumb from Groupon in May) to extend working capital to restaurants. Oh, and good for Nowait, who picked up an $8 million investment from Yelp in the process.

Rules 40

Rules Fincen Online and Mobile Banking Cross-Border 40

Fintech Labs Insights

AUGUST 22, 2024

And many of those winners have gone on to become successful fintech companies or be acquired by one. Infocorp (acquired by Aquila Software): Enhancing banking experiences in emerging markets, recently added new AI features. Fast-forward 17 years, and there have been 320 Best of Show trophies handed out.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

PYMNTS

FEBRUARY 18, 2019

Magna and Sason “engaged in a scheme to acquire fake convertible promissory notes supposedly issued by penny stock issuer Lustros Inc. The defendants then sold the shares to unsuspecting retail investors, who did not know that the shares were fraudulently acquired and were being sold illegally.

Finance 49

Finance Issuers Account Takeovers Money Laundering 49

Fintech News

APRIL 9, 2025

This shift is largely driven by Fraud-as-a-Service (FaaS) technological platforms and widely available fraud tools, which provide a range of services to facilitate cybercrime, including identity theft, account takeovers, and financial fraud. Tutorials or guides are often sold or shared for free on these platforms.

APACS 102

APACS Deepfake Identity Theft Account Takeovers 102

The Payments Association

FEBRUARY 17, 2025

The architects of the future of travel payments Fintech firms are driving multiple transformative shifts: Unified platforms: Consolidating payment workflowscard issuance, acquiring, cross-border settlementsinto a single system reduces fragmentation. stablecoins) help streamline operations and improve efficiency.

Cross-Border 88

Cross-Border Payment APIs and Integration Fraud Prevention Multi-Currency 88