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

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

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

PYMNTS

SEPTEMBER 5, 2019

One of the biggest changes is that call centers are moving away from knowledge-based authentication (KBA) methods like passwords and PINs and employing methods with multi-factor authentication (MFA). A majority (51 percent) of call center leaders cited the phone channel as the primary source of account takeover (ATO) attacks.

MFA 59

MFA Authentication Multifactor Authentication AI 59

PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts. Many customers still like the convenience of KBA tools, however, which is why Lindsay Sacknoff, head of U.S.

MFA 46

MFA Multifactor Authentication AI Authentication 46

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

The Payments Association

JANUARY 14, 2025

Strong customer authentication (SCA), frictionless user experiences, and regulatory oversight were among the focal points as experts dissected the existing risks and potential remedies for open banking fraud. Fraudsters often exploit advanced social engineering tactics to deceive consumers into granting access to their accounts. .”

Fraud Prevention 88

Fraud Prevention Financial Crimes Crime Participant 88