Fintech Finance

FEBRUARY 4, 2025

Over this period, Ravelin has established itself as a market leader in identifying payment fraud, account takeover, return & refund abuse, promotion & voucher abuse and marketplace fraud, and performing 3D Secure authentication.

Fraud Prevention 69

Fraud Prevention AI Acquirers Account Takeovers 69

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

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth.

Account Takeovers 47

Account Takeovers Accounts Fraud Prevention Credit Cards 47

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

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

The Fintech Times

DECEMBER 18, 2023

As a result of AI and other emerging technologies, the need for accurate and secure authentication is at an all-time high. Tending to this need, Zally , the continuous authentication platform, is building up for its launch in 2024. This is instead of traditional authentication which takes place solely at the point of login.

Authentication 64

Authentication Continuity Security Account Takeovers 64

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

PYMNTS

JUNE 14, 2019

Online games store and centralize users’ payment information, making them prime targets for hackers who acquire data via account takeovers (ATOs). Account takeovers: the ultimate boss fight. Users must input these codes before they can access their accounts. ATOs are arguably the most nefarious type of fraud.

Account Takeovers 46

Account Takeovers Accounts Scams Phishing 46

The Paypers

JULY 22, 2024

Estonia-based identity verification provider Veriff has augmented its Biometric Authentication solution to prevent account takeover fraud.

Authentication 41

Authentication Account Takeovers Verification Accounts 41

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 111

Accounts Multi-Currency Account Takeovers On-Demand 111

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

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

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

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

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

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

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 93

Account Takeovers MFA Fraud Detection Credit Cards 93

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. Account takeover fraud How it works: Fraudsters can use phishing emails, false promises, and other social engineering attacks to steal a cardholder’s personal information and gain unauthorised access to their account.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

PYMNTS

SEPTEMBER 10, 2019

The problems with identity theft and account takeover (ATO) fraud are real and seriously need to be addressed. Phone companies, to bill consumers, need a high level of security around authentication. Using telecom data for authentication may seem simple and obvious — actually doing it is anything but.

Consumer Authentication 59

Consumer Authentication Authentication Consumer Identity Theft 59

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 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

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

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

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

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

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

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 9, 2019

In an new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , provided an overview of the global state of ID verification and authentication, along with access management — and how improving those processes and technology can lead to gains for merchants and financial institutions.

Authentication 76

Authentication Verification Account Takeovers Consumer 76

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

PYMNTS

AUGUST 21, 2020

Hacking, cybercrime and various forms of digital fraud are a never-ending worry for digital-first banks, with fraudsters leveraging techniques as diverse as phishing schemes, identity theft, account takeovers and botnets to target both banks themselves and their customers.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

AUGUST 7, 2019

At this point in 2019, we’ve all dealt with some flavor of two-factor authentication that uses SMS one-time passcodes. It is perhaps easy to beat up on SMS-based authentication for how relatively easy it is to overcome — but it is perhaps a bit unreasonable to expect it to act as an authentication method.

Authentication 44

Authentication Consumer Authentication Consumer Ubiquitous 44

PYMNTS

MARCH 20, 2020

Many are turning to artificial intelligence (AI), machine learning (ML) and other advanced learning solutions to prevent and detect breaches before they can cause large-scale problems, but bad actors are using the same set of tools to sidestep authentication processes or impersonate legitimate customers.

Fraud Prevention 90

Fraud Prevention Account Takeovers AI Phishing 90

PYMNTS

OCTOBER 16, 2020

Fraudsters deploy a variety of different methods when attacking these apps, ranging from sophisticated methods like account takeovers (ATOs) to impersonation schemes that trick users into sending them money directly. About The Playbook.

Zelle 89

Zelle P2P Scams Financial Crimes 89

The Fintech Times

FEBRUARY 26, 2024

Enter IAM platform convergence Many financial institutions still rely on home-grown and/or legacy Identity and Access Management (IAM) solutions to meet their authentication, identity verification and authorisation needs. Customer experience : They excel at streamlined, connected journeys, leaving clunky interfaces in the dust.

API 114

API Authentication Account Takeovers On-Demand 114

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

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