The Fintech Times

MAY 17, 2024

Overall, 68 per cent of respondents either know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected. Finding a solution Identity verification is a key part of the solution for companies looking to secure themselves and ensure that their users are genuine.

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

FICO

NOVEMBER 24, 2020

Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. With that in mind, there are actions you can take right now to protect yourself from fraud and identity theft. Tip #2: Take Advantage of Authentication Features.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

Account Takeovers 85

Account Takeovers MFA Fraud Detection Credit Cards 85

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

PYMNTS

AUGUST 21, 2020

These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft. Interactive teller machines (ITMs) offer a variety of services that are normally only available inside a physical branch, like loan applications and cash deposits.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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

PYMNTS

MARCH 29, 2017

Online retailers just got a new tool in the fight against identity theft and fraud. 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.

Fraud Prevention 40

Fraud Prevention Account Takeovers Identity Theft Data Breach 40

FICO

MAY 19, 2020

This will result in more cases of account takeover during this time and for months ahead. As anti-fraud professionals, we should: Be aware of increased account takeover and customers susceptible to scams and help by educating our customers ( Here is some recent advice and tips for consumers ).

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. Such authentication is crucial in streamlining the decisioning process and advancing “good” applications while reducing false positives. alone topped $10.2

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

PYMNTS

JANUARY 16, 2020

Biometric authentication solutions provider BehavioSec is among those innovating its products for more protection, announcing upgrades to its behavioral biometrics platform surrounding customer authentication and other verification safeguards. Experimentation with biometrics and other behavioral analysis tools is also advancing.

AI 53

AI Identity Theft Authentication Verification 53

FICO

JANUARY 22, 2020

Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactor authentication (84 percent). When they are successful, criminals are making use of real-time payments to move funds quickly through a maze of global accounts.

Real Time Payments 52

Real Time Payments APACS Multifactor Authentication Account Takeovers 52

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. acquire personal data via account takeovers. Fingerprints, voice prints and other forms of biometric authentication are gaining steam in the arsenal of fraud-fighting tools.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

FICO

SEPTEMBER 8, 2022

One of the issues is that the platform is often used for transacting small dollar amounts, where hardly any authentication or verification checks are used, making users more vulnerable to fraud. A further quarter (26%) of customers dislike banks changing the methods used to authenticate customers.

Posting 52

Posting Real Time Payments Scams Push-to-Card 52

PYMNTS

SEPTEMBER 11, 2019

As Pointner said, at least today, firms are not going to lose customers because they offer passwords as an authentication method — but they might lose them if they do not offer the use of passwords. We’ll see more account takeovers, we will see more theft and certainly more identity theft.

Authentication 72

Authentication Identity Theft Account Takeovers Checks 72

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.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

FICO

APRIL 8, 2020

Identity verification at point of account opening ensures that you have set up an account for a legitimate customer, but you must also be sure that you are still dealing with your legitimate customer at every interaction. It may become necessary to enroll long-term, existing customers for authentication periodically.

Accounts 52

Accounts Enrollments Authentication Verification 52

Seon

JULY 10, 2024

These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Fraud monitoring is a broader term encompassing the overall detection and prevention of fraudulent activities within an organization. Fraud transaction monitoring’s scope is narrow.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

JUNE 12, 2019

There are four keys ways in which the right electronic payments technology solution (the executive pointed to Bottomline’s Paymode-X integrated payables network among them) can help businesses secure their payment processes: They include preventing account takeovers and unauthorized account changes.

Accounts 62

Accounts Email Compromise Same Day ACH Compromise 62

PYMNTS

NOVEMBER 6, 2017

Yet those nine numbers have become a standard bearer for identity verification, a gold mine for fraudsters – maybe rendered moot by the huge breaches at Equifax and other companies. After all, your very name, address, telephone number, maiden name and so on are all ticking time bombs, putting you at risk for identity theft.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

SEPTEMBER 1, 2017

Fraudsters can spoof numbers and social engineer the call to access sensitive medical records and other personal identifying data that they can use for account takeover, identity theft or synthetic identity construction.

Identity Theft 52

Identity Theft Bots Account Takeovers Automation 52

Fintech Labs Insights

DECEMBER 20, 2016

At its FinDEVr Silicon Valley debut this fall , digital authentication specialist NuData demonstrated how its technology, NuDetect , enabled verification using a combination of behavioral biometrics identification and analytics, device location, and entity linking.

Security 17

Security Identity Theft Account Takeovers Fraud Detection 17

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

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

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

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

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. In response, many institutions have deployed layered controls to ensure they are interacting with genuine customers and help stop identity fraud. Authentication.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Verification Identity Theft 52

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. The Many Ways To Play At Fraud.

Identity Theft 69

Identity Theft Account Takeovers FTC Phishing 69

PYMNTS

OCTOBER 29, 2018

The various parts come together to produce a nefarious whole, one that targets personal and payment data to enable product or identity theft , account takeovers and other illegal activities that, left unchecked, can ruin lives and take down companies.

Fraud Prevention 79

Fraud Prevention Identity Theft Third-Party Service Provider Account Takeovers 79

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. According to the Federal Trade Commission, USA, over 1.4

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

FEBRUARY 19, 2018

That’s because the indictments allege malfeasance that spans online transactions, banking and the ever-present specter of identity theft. In a nutshell, the baker’s dozen of alleged malefactors bought fake IDs and used information, courtesy of the Dark Web, to open accounts that enabled the business of their bad business to happen.

Identity Theft 48

Identity Theft Risk Online and Mobile Banking PayPal 48

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52