Fintech Finance

FEBRUARY 4, 2025

Over this period, Ravelin has established itself as a market leader in identifying payment fraud, account takeover, return & refund abuse, promotion & voucher abuse and marketplace fraud, and performing 3D Secure authentication.

Fraud Prevention 69

Fraud Prevention AI Acquirers Account Takeovers 69

Payments Source

APRIL 17, 2018

ATMs require dual-factor authentication in the form of a physical card and a PIN, and this same concept should be extended to phone transactions, writes Patrick Cox, CEO of TRUSTID.

Account Takeovers 67

Account Takeovers ATM Accounts Security 67

PYMNTS

OCTOBER 13, 2020

AI-powered digital solutions provider Jumio recently unveiled a platform solution intended to help eTailers with such security work. The offering supports merchants’ onboarding and verifying new users as well as securing their accounts. Zulily On Fighting Fraud And Cart Abandonment With Digital ID Verification.

Account Takeovers 69

Account Takeovers Accounts Federal Trade Commission Verification 69

Seon

JANUARY 29, 2024

In this guide, we’ll see why accounts are targeted, how fraudsters acquire them, and, of course, which steps you should take to secure them. This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud?

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth.

Account Takeovers 47

Account Takeovers Accounts Fraud Prevention Credit Cards 47

PYMNTS

MARCH 17, 2020

With a new solution announced Tuesday (March 17), identity trust and digital fraud protection firm Kount seeks to help people avoid the pitfalls and annoyances of account takeover fraud.

Account Takeovers 52

Account Takeovers Accounts Bots Credential 52

PYMNTS

OCTOBER 23, 2017

The Security Love Triangle. Security, Ersell said, is an old business, and it’s still ruled by the same love triangle of warring priorities: security, convenience and resources. saving money) over security. They’re using weak passwords – oftentimes, the same weak password for all of their online accounts.

Account Takeovers 53

Account Takeovers Accounts Cybersecurity Bots 53

PYMNTS

JULY 9, 2020

Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. A recent report highlighted this problem and advised FIs to adopt harder-to-trick methods like biometric authentication.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

PYMNTS

JUNE 14, 2019

Online games store and centralize users’ payment information, making them prime targets for hackers who acquire data via account takeovers (ATOs). Account takeovers: the ultimate boss fight. Users must input these codes before they can access their accounts. ATOs are arguably the most nefarious type of fraud.

Account Takeovers 46

Account Takeovers Accounts Scams Phishing 46

PYMNTS

OCTOBER 29, 2018

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. Banks, FinTech firms and other financial services firms would be wise to invest more time, effort and resources into open banking security systems.

Security 76

Security Payment APIs and Integration API Authentication 76

Fintech News

JULY 22, 2024

Additionally, YouTrip has introduced a ‘Linked Bank Account’ option for seamless top-ups, adding to existing fee-free methods like PayNow, Mastercard, and Visa (Debit). Users need to complete the authentication process once to enjoy this new top-up method.

Accounts 111

Accounts Multi-Currency Account Takeovers On-Demand 111

PYMNTS

OCTOBER 26, 2016

While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. to provide additional layers of security. Going Beyond PCI.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

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

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

SEPTEMBER 29, 2017

That the Equifax breach will be a major watershed moment in the history of data security, impacting consumers nationwide for years to come, is not a terribly controversial point. It is bad news when the bad guy already had access to much of the data he or she needed to fool standard authentication,” Brown said. Not quite, Brown said.

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

PYMNTS

NOVEMBER 9, 2018

In the latest Omni Security And Authentication Report , PYMNTS explored the different tactics cybercriminals are deploying this holiday season, and how retailers are working to safeguard themselves. Around The Security And Authentication Space . To read the full feature story, download the latest report here.

AI 76

AI Authentication Account Takeovers Cybersecurity 76

Fi911

JULY 8, 2024

The rise of online shopping has made eCommerce fraud an increasingly prevalent and sophisticated threat, necessitating advanced security measures to protect both merchants and customers. Small businesses, in particular, are vulnerable as they may lack the advanced security infrastructure of larger corporations.

Account Takeovers 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

SEPTEMBER 24, 2020

Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish. Social Security numbers. Identity fraud accounted for $16.9 A major factor in this decline has been the rise of improved authentication and security systems at banks like Axis.

Account Takeovers 82

Account Takeovers Database Authentication Crime 82

FICO

FEBRUARY 8, 2018

Linus always had the thoughtful answer and the confidence to tell his friends the truth, despite the silly security blanket. Is it because biometrics are today's security blanket? The Myth of Biometric “Security Blankets”. Facial Recognition Imparts a False Sense of Security.

Security 65

Security Cybersecurity Authentication Account Takeovers 65

Fi911

JANUARY 18, 2024

Financial institutions employ various security measures to combat them. 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. New Account Fraud A new account is opened using fake or stolen credentials.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

PYMNTS

SEPTEMBER 10, 2019

For those worried about the security of identity in the age of mobile, the last few weeks have not exactly been an encouraging time to be reading the headlines. Also, bewildering was the fact that Google finding a hole in Apple’s security was the second most attention-grabbing security failure last week.

Consumer Authentication 59

Consumer Authentication Authentication Consumer Identity Theft 59

PYMNTS

MARCH 14, 2020

According to online security company Signal Sciences , eCommerce retailers deal with an average of 206,000 web attacks per month. percent of all eCommerce fraud , is still account takeover. At the same time, a new report shows that fraudsters will take more than $12 billion off the table. The main offender, constituting 29.8

Account Takeovers 92

Account Takeovers Credential Automation Bots 92

PYMNTS

SEPTEMBER 17, 2020

The challenges of maintaining this trust are now under pressure from the COVID-19 pandemic, however, which has seriously battered the sharing economy as ride- and homesharing businesses develop tactics to convince consumers of their security and restore the sector. . Seamless, Secure Onboarding . More than 111 million U.S.

Verification 89

Verification Authentication Economy Data Breach 89

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. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud. reached $5.1

Consumer Authentication 40

Consumer Authentication Authentication Account Takeovers Consumer 40

The Fintech Times

FEBRUARY 26, 2024

But what incumbents do have is the brand recognition, licensing reach and established infrastructure to enable the shift towards digital identity to secure their place in the future of finance. Legacy solutions, often siloed and cumbersome, hinder the ability to deliver frictionless customer experiences and adapt to evolving security threats.

API 114

API Authentication Account Takeovers On-Demand 114

PYMNTS

JUNE 13, 2019

billion digital records in the United States were compromised during the first half of 2018 – 291 records every second – with only six social media breaches accounting for more than half of all at-risk data. The Drawbacks of Complex Security. AI Solutions for Balancing Security and Convenience. Blockchain-Based Security Methods.

Security 51

Security Account Takeovers Authentication Blockchain 51

PYMNTS

DECEMBER 9, 2020

The passwords, user names and Social Security numbers that once helped us prove we are who we say we are now are vulnerable or have already been compromised. At the same time, banks and other firms must find new ways to verify and authenticate users and gird against theft and account takeovers.

Privacy 93

Privacy Regulations Verification Account Takeovers 93

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

FICO

DECEMBER 13, 2022

Biometric Security Crucial for Fraud Protection and CX. Typically, the challenge for FIs has been the natural opposition of ease of use and good fraud protection and account security. However, this aversion to badly thought-out identity checks extends to use of existing accounts. Customers Prefer Biometric Security.

Security 52

Security Account Takeovers Authentication Payee 52

PYMNTS

JULY 9, 2019

In an new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , provided an overview of the global state of ID verification and authentication, along with access management — and how improving those processes and technology can lead to gains for merchants and financial institutions.

Authentication 76

Authentication Verification Account Takeovers Consumer 76

Fintech Finance

AUGUST 2, 2024

Advanced Features and Capabilities Key features include support for SWIFT, SEPA, and ISO20022 payment formats, device fingerprinting, biometric authentication, real-time monitoring, and AML screening. Enhanced Security : Advanced security measures protect sensitive data and ensure all compliance activities are conducted securely.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

PYMNTS

MAY 3, 2016

Digital biometric technology and authentication provider mSIGNIA announced on Monday (May 2) that it was issued U.S. The patent serves as an extension of mSIGNIA’s previous patent covering cryptographic security functions based on anticipated changes in dynamic minutiae.

Security 42

Security Account Takeovers Authentication Privacy 42

FICO

NOVEMBER 24, 2020

Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. When it comes to financial fraud, such as account takeover, banks are on your side. Tip #2: Take Advantage of Authentication Features. It Pays to Protect Yourself.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

APRIL 22, 2020

Banks must enable fast and seamless onboarding experiences, but these processes should also be secure. New account fraud is a significant problem for FIs, with 48 percent of values generated from fraud attempts coming from accounts that have only been open for one day, according to a recent report.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53