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

JULY 1, 2019

It’s open season for hacks on mobile order-ahead apps as data breaches continue to make headlines regularly and cybercriminals purchase stolen identities on darknet marketplaces. Account Takeovers Plague the QSR Industry. One victim did not even have a Chipotle account, but had used the QSR’s guest checkout option.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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 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

M2P Fintech

MARCH 24, 2025

Emphasis on Cybersecurity and Data Privacy Digital lending faces rising threats: data breaches from hacking, fraud via synthetic identities, account takeovers exploiting weak security , ransomware disrupting operations, and insider threats. Protecting sensitive data is paramount.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 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. Chipotle is on the route to recovery after suffering setbacks due to food safety concerns, falling sales – oh, and an April data breach.

Account Takeovers 63

Account Takeovers Data Breach Bots Credential 63

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.

Fraud Prevention 40

Fraud Prevention Identity Theft Account Takeovers Data Breach 40

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

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 Phishing AI 90

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. While there are many methods and consequences of a business email compromise, an email data breach compromise occurring in a business is essentially the result of a successful BEC.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 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

PYMNTS

APRIL 12, 2017

The need for online retailers and brands to be vigilant in the face of fraud becomes more pressing by the day — but additional authentication measures can create friction on the consumer’s end, which has a nasty habit of reducing conversion rates.

Account Takeovers 46

Account Takeovers Breach Risk Assessment Assessments 46

PYMNTS

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. Both involve fraudsters convincing employees to reveal sensitive information or install malware.

Phishing 70

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

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

MARCH 28, 2018

According to LexisNexis , chargeback fraud accounts for 28 percent of all fraud that occurs at an eCommerce company, tied for first place with “ friendly fraud.” ” The impact of chargeback fraud and other transaction-related fraud — like account takeovers or payments fraud — on the bottom line is clear.

Security 44

Security Data Breach Account Takeovers Breach 44

PYMNTS

SEPTEMBER 11, 2019

He pointed to password managers and services that alert consumers to the fact that passwords may have been exposed in data breaches (and so must be discarded). We’ll see more account takeovers, we will see more theft and certainly more identity theft. Getting Ready to Pull the Plug. Nothing lasts forever, of course.

Authentication 72

Authentication Identity Theft Account Takeovers Checks 72

PYMNTS

OCTOBER 26, 2016

. “There’s no way the guest Wi-Fi at a retailer is going to let you into the point of sale; however, it would let you into the system, which then may be able to get to where the consumer data is,” Tinsley explained, “because they’ve thrown that consumer data on the other side of the firewall from the payment.”.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

JUNE 12, 2018

Entersekt , the push-based authentication and app security company, announced Tuesday (June 12) that it has opened a new office in Atlanta, Georgia, aimed at supporting the company’s growth and serving as the headquarters in North America. The new headquarters will be located at 7000 Central Park in Sandy Springs, GA.

Authentication 40

Authentication Account Takeovers Data Breach Acquirers 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

FEBRUARY 27, 2020

Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 The fraudsters spoofed its service providers’ email contacts, and charged the charity for nonexistent services rendered, bypassing its two-factor authentication protocols. million USD).

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

The Fintech Times

MAY 17, 2024

Regardless of whether they’ve been a victim of fraud or identity theft, most consumers worry daily about falling victim to data breaches (79 per cent) and account takeover attacks (77 per cent).

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

Finovate

AUGUST 14, 2024

Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. Founded in 2012 and headquartered in New York, Socure most recently demoed its technology on the Finovate stage at FinovateFall 2017.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

PYMNTS

NOVEMBER 7, 2016

There are those high-profile credit card data breaches that create massive headaches for merchants, while the Federal Bureau of Investigation has continually warned the nation about corporate phishing attacks that specifically target the B2B and supplier payment process, convincing businesses to pay a fake supplier.

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

PYMNTS

FEBRUARY 22, 2019

The fallout hits everyone involved via a fraudulent transaction, and, as the data shows, account takeovers are on the rise. Establishing identity in the digital world is proving to be a fluid process, as questions are multiplying around the collection, processing and ownership of data. “If

Credential 52

Credential Account Takeovers Authentication Verification 52

PYMNTS

MARCH 30, 2016

This cloud-based, real-time identity verification tool also helps validate returning customers/prospects; it also protects transactions types, including account creation, login authentication and payment authorization. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

Account Takeovers 41

Account Takeovers Fraud Detection Fraud Prevention Best Practices 41

PYMNTS

JULY 29, 2019

The Martins stated that security has been a top focus for the platform, particularly as data breaches become more common. The Martins attribute this to the app’s user authentication protocol, which requires users’ device IDs to be connected to the phone numbers registered to the app. Keeping the cup secure.

Account Takeovers 46

Account Takeovers Authentication Push-to-Card Data Breach 46

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). They might hack databases to obtain information like consumers’ emails and phone numbers or they might find such information already available on the dark web from previous data breaches.

P2P 60

P2P Scams Security Account Takeovers 60

FICO

AUGUST 27, 2020

This includes application fraud – i.e. a fraudster uses a stolen or synthetic identity to open an account and account takeover fraud - where fraudsters know enough about someone to login to their accounts and take them over. Working from home and data security. Retaining customer trust.

Authentication 52

Authentication Online and Mobile Banking Breach Risk 52

PYMNTS

SEPTEMBER 6, 2019

The need for newer, stringent authentication comes as call centers — especially those for banks and other financial services — are getting hit with increasingly sophisticated fraud. Users’ voices, how they hold their phones or type and their fingerprints are all factors call centers are examining for more secure authentication.

MFA 49

MFA Authentication Phishing Verification 49

FICO

AUGUST 1, 2019

With the rapid rise of data breaches around the globe, the fear of identity theft is at an all-time high. I recently attended a conference where US Postal Inspector Brian Plants shared his perspective on the manifestation of a classic account takeover scheme. Fraudsters are nothing if not creative.

Identity Theft 40

Identity Theft Credit Cards Account Takeovers Data Breach 40

FICO

JUNE 20, 2019

Of this, over $ billion n is attributed to subscription fraud and account takeover. An increasing amount of data breaches across all industries. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. A ‘convergence’ of fraud.

Account Takeovers 45

Account Takeovers Verification Data Breach Bots 45

Seon

JUNE 24, 2024

Credit card fraud accounted for 34% of these statistics, indicating fraud’s pervasive and industry-agnostic nature. Cybercriminals often employ sophisticated tactics, such as synthetic identities, account takeovers (ATOs) and exploiting unsuspecting individuals through socially engineered schemes.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 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

FICO

JUNE 20, 2019

Of this, over $7 billion is attributed to subscription fraud and account takeover. An increasing amount of data breaches across all industries. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. A ‘convergence’ 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. An increasing amount of data breaches across all industries. The consumer’s mobile account has become fundamental as part of an authentication trail in many services such as banking. A ‘convergence’ of fraud.

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

FICO

JUNE 8, 2020

When the fraudster has enough data, they use it to socially engineer employees, defeat channel authentication controls, or apply for new products or services. Fraudsters are in a race to try to access customer accounts or apply for products before the victim realizes there’s a problem.

Compromise 52

Compromise Financial Crimes Breach Credential 52

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.

ATM 59

ATM Debit Card Fraud Detection Credential 59