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Account Takeovers Breach Data Breach 
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.
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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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. In an interview with PYMNTS , Chipotle CTO Curt Garner explained how account takeovers primarily occur through automated bot attacks that have an identifiable signature.
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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.
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
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
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
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
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.
115 
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.
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.
104 
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.
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.
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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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
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
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.”.
129 
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
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.
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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 
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
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
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 
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.
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
APRIL 9, 2018
The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Gartner research director Ruggero Contu cited high-profile attacks, like the Equifax breach , as a key motivator behind this spend.
49 
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. Deep Dive: FIs And The Importance Of Customer Data.
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
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 billion last year.
The Fintech Times
DECEMBER 18, 2023
“A never-ending stream of data breaches combined with highly sophisticated and technical attacks means the stolen personal information available on the dark web is continuously replenished. Cybercriminals use that information to impersonate people in positions of authority.
139 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
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. .
89 
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.
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.
44 
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. billion records from various major breaches.
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
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
OCTOBER 30, 2017
Due to the surge in data breaches, Social Security numbers, mailing addresses, passwords, health history, even the name of our first pet is all for sale on the Dark Web. Where is the rise in identity-based fraud coming from?
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.
The Fintech Times
JUNE 20, 2024
Confronting modern cyber risks in financial services David Atkinson, CEO, SenseOn Entrusted with the personal data of billions, financial institutions face a relentless barrage of cyber threats, amplified by the proliferation of internet banking , mobile applications and instant payment systems.
59 PYMNTS
APRIL 24, 2018
Of these, none are more insidious than Account Takeover, aka ATO. If they’re using the same password for their bank account, said Shem-Tov, it takes the breach to a whole new level. Now the fraudster is not only able to make purchases with the breached account, they can also essentially steal all of that customer’s funds.
50 
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.
PYMNTS
DECEMBER 1, 2017
On Thanksgiving morning, Uber-using Americans woke up with two questions: How long do I cook my turkey, and was I one of the 57 million people whose personal data was hacked as part of the Uber breach? The day before, the news broke that cybercriminals had managed to steal the data of 57 million customers and drivers.
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