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

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. They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Once they have control, fraudsters can make unauthorized transactions, change account details, and steal sensitive information.

Account Takeovers 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

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

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

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

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

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

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

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

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

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

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

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

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

FEBRUARY 22, 2019

The fallout hits everyone involved via a fraudulent transaction, and, as the data shows, account takeovers are on the rise. That’s especially true along the traditional and current methods of authentication , he said. The flow of credentials is designed not to create friction, but to provide permission.

Credential 52

Credential Account Takeovers Authentication Verification 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

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

OCTOBER 30, 2017

Account takeover fraud is a growing concern, but Krebs noted that institutions and customers are better armed against it. Moreover, consumers tend to be aware of things like their banks accounts, and a credit card statement with a balance that’s a few thousand dollars north of where it should be tends to draw attention.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

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 7, 2020

The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud. Eighty-eight percent of surveyed managers expect the health crisis to increase the threat of financial fraud in regulated industries, including online gambling. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

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

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

FEBRUARY 8, 2018

As I blogged last year : To protect against consumer financial fraud, there’s a lot of buzz now about using biometric information — fingerprints, iris and facial recognition, and other unique physical characteristics — to authenticate payment card transactions…. Like encryption, however, biometrics are not a silver bullet to stop hackers.

Security 65

Security Cybersecurity Authentication Account Takeovers 65

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 Identity Theft Account Takeovers Data Breach 40

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

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

SEPTEMBER 24, 2020

Traditional wallets in the APAC region market have relied on two-factor authentication or one-time passwords. Those lines of defense can indeed be effective, said Donlea, “as long as details in that consumer's account have not already been changed through an account takeover.”.

APACS 98

APACS Risk Online and Mobile Banking Verification 98

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

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

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

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 Breach Credential 52

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

FICO

DECEMBER 19, 2022

As customer interactions go completely online, digital identity verification and authentication help — but sophisticated authentication can’t stop all types of fraud. The risks of answering either question wrong should encourage financial institutions to rethink a few things, including: How and when they authenticate customers.

Assessments 52

Assessments Scams Authentication Authorization 52

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

PYMNTS

JULY 21, 2020

This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). The ploy enabled the criminals to then glean enough information that they could enter targeted customers’ accounts to reset passwords, giving the bad actors complete control of the accounts.

P2P 60

P2P Scams Security Account Takeovers 60

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