PYMNTS

OCTOBER 13, 2020

In this month’s Feature Story, Kiran Akkineni from moms-focused clothing, toys and home goods eTailer Zulily explained why requiring visitors to onboard before viewing items is worth the friction it causes, and how this decision has helped the company reduce cart abandonment and investigate any suspected account takeovers.

Account Takeovers 69

Account Takeovers Accounts Federal Trade Commission Verification 69

PYMNTS

DECEMBER 27, 2016

Account takeovers, even of high-profile people, has become a common occurrence in this era of sophisticated cyberattacks and hacks, but researchers think they’ve found a way to fight back against account takeovers : cryptographically based security keys.

Account Takeovers 46

Account Takeovers Security Accounts Authentication 46

PYMNTS

OCTOBER 23, 2017

If people can accept long lines at the TSA and the occasional sore arm at the Minute Clinic, why can’t they accept an extra layer of authentication when using their credit cards online or the need to update their passwords more frequently? They’re using weak passwords – oftentimes, the same weak password for all of their online accounts.

Account Takeovers 53

Account Takeovers Accounts Cybersecurity Bots 53

The Paypers

MAY 8, 2024

Sift has announced the expansion of the Fraud Industry Benchmarking Resource with the inclusion of account takeover and two-factor authentication trend data.

Account Takeovers 41

Account Takeovers Authentication Accounts 41

The Paypers

DECEMBER 15, 2022

Passwordless authentication provider Keyless has partnered with identity proofing and compliance solutions provider Jumio to help financial institutions fight account takeover fraud.

Account Takeovers 69

Account Takeovers Authentication Compliance Accounts 69

Payments Source

APRIL 17, 2018

ATMs require dual-factor authentication in the form of a physical card and a PIN, and this same concept should be extended to phone transactions, writes Patrick Cox, CEO of TRUSTID.

Account Takeovers 67

Account Takeovers ATM Accounts Security 67

PYMNTS

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud. reached $5.1

Consumer Authentication 40

Consumer Authentication Authentication Account Takeovers Consumer 40

Braintree

AUGUST 26, 2019

Braintree has supported SMS and authenticator app two-factor authentication in the Control Panel since 2015. Two-factor authentication is a crucial tool for helping protect merchants from unauthorized account access, typically by requiring a time-sensitive code during sign in.

Authentication 52

Authentication Phishing Account Takeovers Breach 52

Fintech News

JULY 22, 2024

Additionally, YouTrip has introduced a ‘Linked Bank Account’ option for seamless top-ups, adding to existing fee-free methods like PayNow, Mastercard, and Visa (Debit). Users need to complete the authentication process once to enjoy this new top-up method.

Accounts 109

Accounts Multi-Currency Account Takeovers On-Demand 109

PYMNTS

SEPTEMBER 29, 2017

Enter the call center: A place where fraudsters are now equipped with the knowledge to pass all the usual authentication checks with flying colors — courtesy of Equifax, of course, who has given them the consumer identity gift that keeps on giving. “It Banks can, Brown offered, modify the kind of data they need to authenticate a consumer.

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

PYMNTS

JULY 9, 2020

Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. A recent report highlighted this problem and advised FIs to adopt harder-to-trick methods like biometric authentication.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Regularly updating security protocols, such as requiring strong customer authentication methods and maintaining up-to-date encryption standards, is essential, too.

Account Takeovers 87

Account Takeovers Fraud Detection Phishing Fraud Prevention 87

The Paypers

APRIL 18, 2017

(The Paypers) Airbnb has introduced multi-factor authentication to protect its customers against cyber attacks, such as phishing, malware and password dumps.

Account Takeovers 28

Account Takeovers Authentication Phishing Accounts 28

Fi911

JANUARY 18, 2024

They can then open new accounts, apply for loans, or make unauthorized purchases in that person’s name, leaving the victim to deal with the financial and emotional consequences. Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security. The post What is Third-Party Fraud?

Account Takeovers 85

Account Takeovers MFA Fraud Detection Credit Cards 85

The Paypers

OCTOBER 9, 2018

(The Paypers) An attack that utilizes the account authentication standard OAuth has affected companies using a token-based login to link third-party social accounts.

Account Takeovers 28

Account Takeovers Accounts Authentication 28

PYMNTS

SEPTEMBER 24, 2020

Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish. Identity fraud accounted for $16.9 A major factor in this decline has been the rise of improved authentication and security systems at banks like Axis.

Account Takeovers 82

Account Takeovers Database Authentication Crime 82

Finovate

SEPTEMBER 30, 2024

The company won Best of Show at FinovateFall in September for a demo of its Illuma Shield real-time voice authentication solution, now equipped with the latest deepfake detection technology to help prevent account takeover fraud.

Deepfake 52

Deepfake Account Takeovers Posting Research 52

Accertify

NOVEMBER 16, 2023

It discusses the most common, yet ever-evolving types of fraud, including chargebacks, scams, and account takeover (ATO), with their latest developments. The post The Paypers Fraud Prevention in eCommerce 2023 – 2024: Keeping Fraudsters Out While Balancing a Seamless Customer UX first appeared on Accertify.

Fraud Prevention 52

Fraud Prevention Identity Theft Account Takeovers Scams 52

FICO

DECEMBER 13, 2022

While many FIs have worked to streamline digital banking experiences, they have constantly had to add friction back into processes to prevent fraudster tactics, like SIM swaps, account takeover, and impersonation scams. However, this aversion to badly thought-out identity checks extends to use of existing accounts.

Security 52

Security Account Takeovers Authentication Payee 52

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication. When you think about it, it’s the high-tech version of social engineering.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases. billion in losses.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JUNE 19, 2020

Payfone has been working with onboarding for health care organizations, financial institutions and tech companies to implement new authentication and security measures, and is able to detect fraud calls and other risks while removing cumbersome processes for legitimate calls. With one in three U.S.

Verification 60

Verification Account Takeovers Authentication CHIPS 60

Finovate

AUGUST 27, 2024

Illuma IllumaShield by Illuma streamlines caller verification with a frictionless voice biometrics authentication solution that protects against account takeovers. Any businesses that generate reports.

Credit Union 52

Credit Union Non-Bank Account Takeovers Community Banks 52

Fintech Finance

AUGUST 2, 2024

Advanced Features and Capabilities Key features include support for SWIFT, SEPA, and ISO20022 payment formats, device fingerprinting, biometric authentication, real-time monitoring, and AML screening. AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

PYMNTS

MARCH 14, 2020

“The goal of the attack is generally to steal credit card information, guess shopping cart tokens to take over the shopping session, or exfiltrate consumer account PII (personally identifiable information) that can be used to perpetrate other fraud.”. percent of all eCommerce fraud , is still account takeover.

Account Takeovers 92

Account Takeovers Credential Automation Bots 92

PYMNTS

MAY 24, 2017

This all comes as no surprise to Brett McDowell, who is working with a team of corporations in verticals from financial services to software to take human error out of the authentication equation, as part of the FIDO Alliance. Because once hackers get their hands on the information, it’s already too late to stop them.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

SEPTEMBER 18, 2020

Making sure that you are being yourself, so to speak, is the province of ever-smarter authentication systems that verify parties to a transaction and keeping things legit. When you create a new online account, we are capturing an image of the government-issued ID and a 3D face map. Factoring In Authentication.

Verification 62

Verification Economy Authentication Account Takeovers 62

PYMNTS

SEPTEMBER 17, 2020

The following Deep Dive examines how digital ID verification and user authentication can foster consumer trust and why providing seamless enrollment is essential. . Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second. Seamless, Secure Onboarding .

Verification 89

Verification Authentication Economy Data Breach 89

PYMNTS

NOVEMBER 9, 2018

In the latest Omni Security And Authentication Report , PYMNTS explored the different tactics cybercriminals are deploying this holiday season, and how retailers are working to safeguard themselves. Around The Security And Authentication Space . To read the full feature story, download the latest report here. About The Report.

AI 76

AI Authentication Account Takeovers Cybersecurity 76

Fintech Finance

FEBRUARY 29, 2024

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. Socure’s predictive machine learning models coupled with Trustly’s Open Banking authentication and data mitigate these emerging risks.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. FIs can struggle to detect such attacks because fraudsters provide the authentication details necessary to access the accounts.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

FICO

NOVEMBER 24, 2020

Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. When it comes to financial fraud, such as account takeover, banks are on your side. Tip #2: Take Advantage of Authentication Features. It Pays to Protect Yourself.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

NOVEMBER 16, 2020

Fraudsters are deploying numerous methods to perpetrate this fraud, including authorized push payment (APP) schemes and account takeovers (ATOs), but these methods all have one thing in common, according to Megan Kakani , vice president of product and innovation at KeyBank. How The Pandemic Makes APP Fraud More Pernicious.

Authentication 72

Authentication Best Practices Multifactor Authentication Fraud Prevention 72

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. Scamming, the Old-fashioned Way. Sometimes even that is not enough to defend against smooth-talking criminals, however.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

JULY 17, 2020

Identity verification and authentication solutions help financial institutions (FIs) block out fraudsters, but leveraging just one or two of these offerings may not be enough. How AI-Powered Risk Engines, Biometric Authentication Secure Alipay Against Scammers. Around The AML/KYC World. Find the full story in the Tracker.

AML 64

AML Money Laundering Authentication Scams 64

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. What Do Fraudsters Do with Accounts They Have Taken Over?

Account Takeovers 52

Account Takeovers Accounts Authentication Data Breach 52

Payments Source

FEBRUARY 1, 2019

The payment systems within these games are conducive to various types of fraud, including account takeovers, that can result in crippling chargeback claims, according to Suresh Dakshina, president of Chargeback Gurus.

Account Takeovers 70

Account Takeovers Payments Accounts Authentication 70