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

PYMNTS

MARCH 14, 2020

percent of all eCommerce fraud , is still account takeover. Here’s how it works: When a fraudster finds or steals user credentials, they enter the account, change their settings (like email and phone number) and lock out the user. Next, the fraudster essentially takes over the account and purchases from the site.

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. No Password, No Cry? .

Authentication 40

Authentication Credential Ransomware Phishing 40

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

AUGUST 10, 2020

“The other benefit of biometric-based identity proofing is that these solutions often create a 3D face map during the selfie process, which not only prevents spoofs but can be used for downstream authentication,” he said.

Credential 56

Credential Account Takeovers Authentication Duplicate 56

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

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. “Fraudsters know that higher transaction volumes and a demand for fast processing times leave merchants vulnerable to attacks. Behavioral Biometrics Ensure You Are You .

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

FEBRUARY 28, 2017

With so much buzz surrounding biometric authentication, it should come as no surprise that several companies looked to increase and improve the biometric options they offer over the past month. The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

Account Takeovers 43

Account Takeovers Online and Mobile Banking Authentication Credential 43

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

Seon

JUNE 24, 2024

Still, the pursuit can be defined as endeavors that ensure secure and reliable digital identity management, including preventing unauthorized access to sensitive information, such as login credentials, PII and financial information. Detecting anomalies and enabling adaptive access controls are crucial for leveraging device intelligence.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

PYMNTS

AUGUST 19, 2019

In the latest Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of QSR rewards programs and how credential stuffing and account takeovers are plaguing the industry. When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature.

Account Takeovers 63

Account Takeovers Data Breach Bots Credential 63

PYMNTS

APRIL 2, 2020

The trouble, Kount ’s Chief Customer Experience Officer Rich Stuppy told PYMNTS in a recent conversation, lies in discerning a good customer from the fraudster who has stolen their payment credential, lifted their identity or taken over their account.

Account Takeovers 61

Account Takeovers Credential Accounts Bots 61

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

MAY 23, 2017

Whether it’s safeguarding sensitive personal and financial information from attacks like WannaCry or authenticating travelers at an airport, security is top of everyone’s mind these days. CLEAR, a security line-busting authentication system, recently received a $15 million investment from asset management firm T. About the Tracker.

Authentication 44

Authentication Ransomware Credential Law Enforcement 44

PYMNTS

MARCH 29, 2017

XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows. number and types of data breaches associated with any individual customer. and globally.

Fraud Prevention 40

Fraud Prevention Account Takeovers Identity Theft Data Breach 40

PYMNTS

JANUARY 16, 2020

Fraudsters are starting off the new decade armed with the stolen data and credentials of millions of global consumers, and they are already putting that data to use. The platform now offers real-time authentication, as well as fraud detection tools that examine voice and other biometric factors.

AI 53

AI Identity Theft Authentication Verification 53

PYMNTS

JULY 21, 2020

Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased 129 percent during the same period. Fraudsters are teaming up to rip off FIs, forming elaborate rings that work cooperatively on account takeovers and phishing attempts.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

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

PYMNTS

JANUARY 24, 2020

Merchants can better trust transactions made with cards issued by firms with strong authentication approaches, for example. . The degree to which an issuer is able to establish trust in a consumer’s identity … and [bind] it to strong credentials is the same degree to which you can have a trusted transaction with a merchant,” he said.

Issuers 61

Issuers Card Issuer Authentication Processors 61

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

FICO

JUNE 8, 2020

Fraudsters buy compromised data (credentials, ID documents, personally identifiable information or payment details). This can include credentials, such as usernames and passwords, identity documents, knowledge-based information and payment details. Convergence in these areas is imperative in controlling account takeover risk.

Compromise 52

Compromise Financial Crimes Credential Breach 52

PYMNTS

JULY 23, 2019

Yet it’s also a process that’s built around checking an individual’s credentials against various static data sources to confirm that person is who they claim to be and are not on any kind of watch list. Boku, through Boku Identity, authenticates consumers using a device that is an intrinsic enabler of the trust: the mobile phone.

Authentication 40

Authentication Privacy Credential Compliance 40

PYMNTS

OCTOBER 26, 2018

Maeder, co-founder of the Loyalty Fraud Prevention Association , a group that offers resources, information and best practices to companies with loyalty programs, digital fraudsters have been using account takeovers (ATOs) to target these offerings.

Fraud Prevention 57

Fraud Prevention Account Takeovers Accounts Authentication 57

PYMNTS

MARCH 18, 2020

High-tech schemes like credential stuffing and account takeover (ATOs) have become commonplace, but many fraudsters still rely on a technique that requires comparatively little technical know-how. The best defense systems use a combination of both.

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

OCTOBER 26, 2016

When hackers have access to emails, usernames and the answers to a person’s security questions, it presents the opportunity for them to not only perpetrate account takeovers but also create entirely new unauthorized accounts. “I Going Beyond PCI. to provide additional layers of security. Covering All The (Data) Bases.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

FICO

MARCH 16, 2021

But when the consumer provides personal data and authorization credentials, the bogus service provider captures the information and uses it to commit an account takeover. . In many cases these account holders are directed by a so-called “mule herder”. Use a service provider to facilitate money laundering.

Money Laundering 52

Money Laundering Fraud Prevention Financial Crimes Crime 52

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

FICO

JUNE 20, 2019

Of this, over $ billion n is attributed to subscription fraud and account takeover. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. In my next post, I’ll discuss account takeover fraud, and then how to tackle these kinds of fraud.

Account Takeovers 45

Account Takeovers Verification Data Breach Bots 45

PYMNTS

APRIL 14, 2017

For example, some fake accounts perform normal user activities such as logging in, updating a profile, following other users, etc., This technique of aging fake accounts can make the malicious accounts appear very similar to other users and evade detection. Another dangerous attack is account takeover (ATO).

Account Takeovers 44

Account Takeovers Online and Mobile Banking Credential Compromise 44

FICO

JUNE 20, 2019

Of this, over $7 billion is attributed to subscription fraud and account takeover. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. In my next post, I’ll discuss account takeover fraud, and then how to tackle these kinds of fraud. .

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

FICO

JUNE 20, 2019

Of this, over $7 billion is attributed to subscription fraud and account takeover. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. In my next post, I’ll discuss account takeover fraud, and then how to tackle these kinds of fraud. .

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

PYMNTS

JANUARY 31, 2020

He recently spoke with PYMNTS about what it takes to keep debit cards and their associated bank accounts safe from cybercriminals. . FIs have long been aware that relying on knowledge-based authentication (KBA) goes only so far. Holistic Security. FIs and retailers cannot focus only on stopping high-value fraud, either.

ATM 59

ATM Debit Card Fraud Detection Credential 59

Seon

JULY 10, 2024

It ensures smooth processing and compliance for legitimate payments, primarily verifying transaction details, validating customer credentials, screening against sanctions and watchlists, and ensuring compliance with regulations. The focus for payment transaction monitoring is slightly adjacent. Fraud transaction monitoring’s scope is narrow.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

Finovate

AUGUST 14, 2024

Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential. Credential stuffing is a common attack in part because it takes advantage of the tendency of individuals to reuse usernames and passwords.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

FICO

JUNE 4, 2018

Authorized push payment scams manipulate the account holder into making the payment to an account controlled by fraudster—hence the term ‘’. After gaining access to a victim’s account, a fraudster might go one step further to carry out account takeover fraud.

Demand Deposit Account (DDA) 40

Demand Deposit Account (DDA) Smishing Payer IRS 40

Seon

JUNE 15, 2023

A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks. Ask an Expert CEO Fraud CEO fraud is a catch-all term for the exploitation of the account of a high-ranking organizational official, such as a CEO or an investor.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

JUNE 25, 2018

Cybercriminals have a new favorite weapon in their quest to allude regulators, law enforcement and corporate security departments: account takeovers. Recent research reveals account takeovers have risen by 300 percent over the past year, with losses topping $5 billion. The Rise Of Account Takeovers.

Account Takeovers 46

Account Takeovers Breach Compromise Payments 46