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.

Security 44

Security Data Breach Account Takeovers Breach 44

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.

Account Takeovers 46

Account Takeovers Breach Compromise Payments 46

PYMNTS

DECEMBER 18, 2017

judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam. Reports said Adindu was arrested in 2016 and allegedly carried out business email compromise scams between 2014 and 2016.

Scams 41

Scams Email Compromise Compromise Wire Transfer 41

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. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes.

Online and Mobile Banking 78

Online and Mobile Banking Account Takeovers Breach Data Breach 78

PYMNTS

AUGUST 16, 2019

In the August Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of QSR rewards programs, including program debuts from Chipotle and Costa Coffee, revamped ordering solutions from Jersey Mike’s and Shake Shack and how credential stuffing and account takeovers are plaguing the industry.

Data Breach 76

Data Breach Breach Account Takeovers Credential 76

Seon

JUNE 24, 2024

Cybercriminals often employ sophisticated tactics, such as synthetic identities, account takeovers (ATOs) and exploiting unsuspecting individuals through socially engineered schemes. Digital footprint data serves as valuable forensic evidence in security incidents or breaches.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

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.

Account Takeovers 46

Account Takeovers Breach Risk Assessment Assessments 46

PYMNTS

FEBRUARY 10, 2017

While they can’t be used to create a chip-based card, they allow enough data to be passed to create dummy magnetic cards that can then be used to perpetrate fraud. It’s expected that the number of account takeover attacks will also continue to grow. properties were compromised by a malware attack. A large chunk of U.S.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

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. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

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.

IRS 63

IRS Data Breach Identity Theft Breach 63

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. Other bad actors rely on phishing, in which potential victims receive links that direct them to fake login pages and ask them to input their account details.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

JANUARY 9, 2019

Stopping fraudsters can feel a bit like playing Whac-A-Mole for luxury retailers who want to protect customers and data, and no one wants to be the next retailer to experience a data breach or high-volume fraud attack. This is especially true as data breaches grow more common as eCommerce sales grow.

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

PYMNTS

NOVEMBER 6, 2017

In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. billion each year and that account takeovers have seen a sharp spike of 45 percent in Q2 2017. percent from Q2 2016 to Q2 2017.

FS-ISAC 47

FS-ISAC Cybersecurity Account Takeovers NACHA 47

PYMNTS

JUNE 26, 2018

Account takeovers are finding favor among fraudsters. Account takeovers have the double-barreled effect of being easier to complete successfully — for the bad guys — and are harder to head off (by the good guys). Perhaps, to no surprise, data breaches keep executives up at night — and the rest of us, too.

Account Takeovers 46

Account Takeovers Faster Payments Breach Credit Cards 46

PYMNTS

APRIL 24, 2018

Of these, none are more insidious than Account Takeover, aka ATO. Finally, Shem-Tov said regaining control of compromised accounts can be a long and complicated process, starting with proving one’s identity to the security and customer service team. Getting Their Hands on Data.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. The malicious programs can work continuously and rapidly, which boosts the possibility that they will eventually hit the correct combinations.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

PYMNTS

MARCH 30, 2016

This cloud-based, real-time identity verification tool also helps validate returning customers/prospects; it also protects transactions types, including account creation, login authentication and payment authorization. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

Account Takeovers 41

Account Takeovers Fraud Detection Fraud Prevention Best Practices 41

FICO

JUNE 8, 2020

Criminals are increasingly sophisticated in how they compromise data, and are deploying new tactics across the social engineering lifecycle. Fraudsters buy compromised data (credentials, ID documents, personally identifiable information or payment details).

Compromise 52

Compromise Financial Crimes Breach Credential 52

PYMNTS

OCTOBER 26, 2016

From Wi-Fi hotspots to printers, unsecured routers to digital video recorders — connected devices can be vulnerable to hacks and, when compromised, are being used by hackers to launch significant distributed denial-of-service (DDoS) attacks. Going Beyond PCI.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

APRIL 14, 2017

For example, some fake accounts perform normal user activities such as logging in, updating a profile, following other users, etc., This technique of aging fake accounts can make the malicious accounts appear very similar to other users and evade detection. Another dangerous attack is account takeover (ATO).

Account Takeovers 44

Account Takeovers Online and Mobile Banking Credential Compromise 44

Nanonets

MAY 31, 2023

Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. Data Breaches: Hackers infiltrate the organization's systems or third-party platforms to steal sensitive payment information and use it for fraudulent purposes.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

NOVEMBER 25, 2016

“People are unaware that people use the same data for everything … and hackers will just go and try this data across” several sites. That sets the stage for account takeover situations, said the executive. The question becomes one of “what do you do?”.

Fraud Prevention 73

Fraud Prevention Credit Cards Account Takeovers Breach 73

PYMNTS

FEBRUARY 21, 2018

All told, he said, of the breach count, “it’s not 1,600 … you are talking about 10,000 or more.” As added confirmation, the PYMNTS Global Fraud Index found account takeovers were up 45 percent year over year in the second quarter of 2017. You can see how it all starts to add up. But larger campaigns are afoot, he said.

Credit Cards 62

Credit Cards AI Breach Issuers 62

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