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Payments Source
JANUARY 9, 2018
Account takeover's harder to quantify than payment fraud because it has so many elements and downstream impacts, writes Kevin Lee, trust and safety architect at Sift Science.
Payments Source
AUGUST 1, 2019
Most cloud storage systems have gaps that open the door to account takeover, API attacks and other threats, argues Pravin Kothari, founder and CEO of CipherCloud.
PYMNTS
MARCH 1, 2017
There’s a war going on in the digital world, one that most consumers are unaware of, despite the impact it could have on their money and their privacy — a battle between fraudsters and security providers over account takeovers. Account takeovers accounted for more than $2.3 billion in losses last year.
FICO
MARCH 22, 2022
Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. What Do Fraudsters Do with Accounts They Have Taken Over?
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?
PYMNTS
OCTOBER 23, 2017
If fraud attacks are the flu, then the Equifax data breach was a raging fever: a symptom (albeit a dramatic one) of a larger illness that will almost inevitably infect any organization that hasn’t had its shots. They’re using weak passwords – oftentimes, the same weak password for all of their online accounts. Growth Trajectory.
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.
PYMNTS
OCTOBER 25, 2017
Account takeovers have become a new favorite for fraudsters over the course of just a quarter. And, in the wake of the Equifax breach that the exposed personal data of approximately 143 million Americans, the scheme will likely become even more popular with bad actors in the coming weeks and months. All told, merchants lost $3.3
PYMNTS
DECEMBER 27, 2016
Account takeovers, even of high-profile people, has become a common occurrence in this era of sophisticated cyberattacks and hacks, but researchers think they’ve found a way to fight back against account takeovers : cryptographically based security keys.
PYMNTS
JUNE 22, 2018
A new report from cybersecurity firm Kaspersky Lab found more than four out of five Americans and nearly three out of every four Canadians report being stressed out about the recent pattern of data breaches. billion breaches for its customers’ personal data. He noted these attacks are also more difficult to detect and stop. .
Fintech News
MAY 27, 2024
The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 million in 2021.
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Fintech Review
APRIL 20, 2025
It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. The risks range from phishing and account takeovers to ransomware and insider threats. Cybertech sits at the intersection of cybersecurity and fintech. What Is Cybertech?
59 
Payments Source
DECEMBER 12, 2018
The Marriott incident will open the door to loyalty program fraud, account takeover and myriad other risks, writes Michael Reitblat, co-founder and CEO of Forter.
PYMNTS
APRIL 7, 2020
“We cannot outright predict a pandemic any more than we can predict a data breach or an account takeover,” DataVisor CEO and Co-Founder Yinglian Xie recently told PYMNTS. What we can do, however, is empower organizations to proactively spot burgeoning crises early and take decisive action before extensive damage occurs.”
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. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.
104 
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’s why — even before the Equifax data breach — firms were exploring advanced technologies to improve security, such as biometrics. Not quite, Brown said.
PYMNTS
FEBRUARY 10, 2019
Some of OkCupid’ s users have reported that their accounts have been hacked, although the dating site is denying it has experienced a security breach. A user who contacted reporters revealed that a hacker broke into his account and changed his password, as well as his email address on file, so that he couldn’t reset his password.
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PYMNTS
AUGUST 27, 2020
It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches. If any of them match up with the game's accounts, they're sold on the black market.
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PYMNTS
OCTOBER 1, 2019
Another day, another data breach – at least it seems that way sometimes. Breaches and other issues don’t just reflect poorly on the ordering platform. These businesses felt unequipped to handle mobile attacks (32 percent) and synthetic identity fraud (32 percent) in equal measures, while account takeovers posed problems for 25 percent.
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Payments Source
NOVEMBER 19, 2017
Widespread data breaches have sparked a rise in account-takeover fraud using stolen consumer credentials, prompting merchants to crack down on suspicious purchases. But too many legitimate customers are getting caught in the process.
Fintech News
MARCH 20, 2024
This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution.
109 
PYMNTS
SEPTEMBER 17, 2019
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Australian FIs are still feeling the repercussions of a breach to its New Payments Platform (NPP), which exposed the data of an unnamed number of banking customers.
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.
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.
PYMNTS
APRIL 13, 2020
You have to really look through the whole digital transaction life cycle because, oftentimes, the fraud starts with account takeover because through massive data breaches that have happened and are still happening now, there are billions of usernames and passwords that are out there on the dark web and in the open market.”.
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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.
88 
FICO
FEBRUARY 19, 2020
Account Takeover Fraud. The ability to move money out of accounts instantly makes account takeover fraud more attractive to fraudsters. Meanwhile, constant data breaches mean that fraudsters have access to account details that they can simply buy on the dark web.
PYMNTS
SEPTEMBER 24, 2018
Data breaches include the unwanted release or unauthorized use of company or customer records. These incidents — such as the event that impacted Equifax late last year — account for roughly 25 percent of all attacks, and most commonly occur when hackers pass through security firewalls or other protections to gain access to records.
78 
PYMNTS
JANUARY 23, 2020
billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.
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PYMNTS
APRIL 12, 2017
Fueled by account takeovers facilitated by major data breaches, reports suggest that one out of every 86 CNP transactions today is deemed fraudulent, said Greg Bonin, COO of data-as-a-service company XOR Data Exchange. In simple terms, XOR gathers data on the information compromised in major breaches, Bonin said.
Finovate
JUNE 10, 2024
The capital will be used to expand the company’s solutions to help businesses investigate and defend themselves against cybercrime in general and account takeover fraud in specific. SpyCloud specializes in helping firms combat account takeover.
PYMNTS
AUGUST 16, 2019
Chipotle and Dunkin’ both reported rewards program breaches in recent months, with cybercriminals using stored payment information to make hundreds of dollars’ worth of fraudulent purchases. 7-Eleven Japan recently fell victim to a data breach that compromised approximately 900 customer accounts. million active users in July.
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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.
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.
PYMNTS
FEBRUARY 22, 2018
But last year’s twist was that data breaches were after social security numbers more often than credit card numbers — though that imbalance (35 percent to 30 percent) was largely driven by one massive breach, the Equifax breach last fall. Account takeover surged 120 percent to hit $5.1 That fraud run saw $16.8
PYMNTS
OCTOBER 13, 2017
The Equifax data breach — impacting sensitive and valuable information ranging from Social Security numbers to birth dates and home addresses — affected more than 150 million people and counting, and it’s become clear that the “one-size-fits-all” approach is no longer effective.
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.
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. over the forecast period of 2024 to 2032.
PYMNTS
MAY 4, 2020
Banks must stay ahead of the criminals and are redesigning their fraud decisioning approaches to more quickly detect account takeovers without accidentally flagging genuine customers as fraudsters. Gas station chain Wawa saw 30 million payments card details posted for sale online after a recent data breach.
PYMNTS
SEPTEMBER 17, 2020
Sharing economy businesses looking to keep their guests safe must deter data breaches that continually threaten organizations and can allow cybercriminals to steal usernames and passwords to access accounts. Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second.
89 PYMNTS
FEBRUARY 2, 2017
The rise of information available via data breaches is particularly troublesome for the industry and a boon for fraudsters. After reaching a low point in 2014, both account takeover incidence and losses rose notably in 2016, with total account takeover losses reaching $2.3
FICO
MAY 15, 2018
As a drumbeat of data breaches becomes the new reality — 42% of organizations breached in 2017 were breached in the past — it’s easy for consumers to throw up their hands and brace themselves for becoming a victim of identity theft or other financial crime. Four Steps to Protect Yourself from Charity Fraud.
63 
PYMNTS
FEBRUARY 10, 2017
It’s expected that the number of account takeover attacks will also continue to grow. After reaching a low point in 2014, both account takeover incidence and losses rose notably in 2016, with total account takeover losses reaching $2.3 has fallen significantly behind the curve. A large chunk of U.S.
PYMNTS
DECEMBER 2, 2019
If individuals are reusing passwords across multiple sites, they are most susceptible to an account takeover attack and illicit transactions within their account,” Beckner told NBC.
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