FICO

JULY 23, 2019

Here, I will broaden the focus to include account takeover fraud. As CSPs have looked to introduce additional controls and checks at the front-end onboarding process, fraudsters have moved to account takeover. In my next post I’ll look at analytics that can help CSPs manage subscription fraud and account takeover fraud.

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Account Takeovers Accounts Credential Rules 40

FICO

JULY 23, 2019

Here, I will broaden the focus to include account takeover fraud. As CSPs have looked to introduce additional controls and checks at the front-end onboarding process, fraudsters have moved to account takeover. In my next post I’ll look at analytics that can help CSPs manage subscription fraud and account takeover fraud.

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Account Takeovers Accounts Credential Rules 40

Fintech News

SEPTEMBER 22, 2024

New account creation fraud refers to the act of fraudsters creating new accounts, often using stolen or synthetic identities, to access online services or obtain lines of credit. Payment fraud, in which stolen payment credentials are used to make illegal transactions, rose by 9% YoY, signaling heightened financial risks for banks.

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Accounts Scams Bots Account Takeovers 140

PYMNTS

FEBRUARY 26, 2020

Coffee giant Dunkin’ fell victim to a credential stuffing attack in October 2018, and the fraudsters who initiated the scheme were soon after selling users’ loyalty credits on dark web marketplaces for a fraction of their values. Rewards points are also valuable as bad actors can either spend them or sell them on dark web marketplaces.

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Credential AI Fraud Detection Account Takeovers 56

Finovate

AUGUST 14, 2024

Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential. Credential stuffing is a common attack in part because it takes advantage of the tendency of individuals to reuse usernames and passwords.

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Credential FinTech Deepfake Fraud Detection 64

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. Foremost among these strategies is better password hygiene.

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Account Takeovers Credential Cybersecurity Breach 59

Fintech Finance

MAY 22, 2024

A key component of this growth in attacks was fraudsters’ focus on account takeover of ecommerce accounts, with the attack rate at login reaching 3.3% (an increase of 119% YOY). The volume of human-initiated attacks surged 80% YOY, resulting in an attack rate of 2.8% (up by 59% YOY).

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Account Takeovers Risk Bots Scams 52

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Once they have control, fraudsters can make unauthorized transactions, change account details, and steal sensitive information.

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Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

FEBRUARY 24, 2020

Account takeovers, brute force attacks and credential stuffing are some of the most popular methods, with rewards and loyalty programs being especially tempting targets for their stored payment data and personally identifiable information. Deep Dive: How AI Helps QSRs Stop ATOs And Credential Stuffing.

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Account Takeovers Credential AI Fraud Prevention 85

Fi911

JANUARY 18, 2024

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. They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means.

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Account Takeovers MFA Fraud Detection Credit Cards 93

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. Ask an Expert CEO Fraud CEO fraud is a catch-all term for the exploitation of the account of a high-ranking organizational official, such as a CEO or an investor.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

MARCH 14, 2020

percent of all eCommerce fraud , is still account takeover. Here’s how it works: When a fraudster finds or steals user credentials, they enter the account, change their settings (like email and phone number) and lock out the user. Next, the fraudster essentially takes over the account and purchases from the site.

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Account Takeovers Credential Automation Bots 92

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.

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Account Takeovers Data Breach Credential Breach 61

The Fintech Times

DECEMBER 18, 2023

“A similarly damaging trend is account takeovers (ATOs) where a bad actor gains access and takes over an online account using stolen or hacked credentials. We’ve always seen RDC attacks, but they’ve popped up more regularly this year and I suspect it’s just the tip of the iceberg.

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Cybersecurity Ransomware RDC Credential 139

The Paypers

SEPTEMBER 19, 2018

(The Paypers) Justin Lie , CashShield : On top of account takeovers, another popular form of fraud attacks on accounts involves the creation of multiple new accounts using stolen genuine user credentials

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Account Takeovers Accounts Credential 48

PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

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Fincen Account Takeovers Identity Theft Financial Crimes 71

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. Such tools enable users to log in using few steps, and bots are unlikely to be able to fake credentials that depend on unique physical traits.

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Credential Bots Authentication Online and Mobile Banking 58

The Paypers

OCTOBER 21, 2020

Bot management solution provider Netacea has been selected by UK-based credit marketplace ClearScore to protect against credential stuffing attacks and account takeovers.

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Bots Account Takeovers Credential Accounts 28

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.

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Account Takeovers Breach Compromise Payments 46

The Fintech Times

DECEMBER 18, 2023

It also improves the user experience by eliminating the need for multiple passwords or log in credentials. From phishing attempts, to account takeover attacks, many of the most pressing online fraud issues have emerged directly from the vulnerabilities of static point-in-time authentication systems.

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Authentication Continuity Security Account Takeovers 62

PYMNTS

NOVEMBER 16, 2020

Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.

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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. They mimic human browsing behaviors and distribute activity across devices to duck exposure.

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Bots Account Takeovers Cybersecurity Credential 52

PYMNTS

APRIL 2, 2020

The trouble, Kount ’s Chief Customer Experience Officer Rich Stuppy told PYMNTS in a recent conversation, lies in discerning a good customer from the fraudster who has stolen their payment credential, lifted their identity or taken over their account.

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Account Takeovers Credential Accounts Bots 61

Clearly Payments

JULY 16, 2024

According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% Account Takeover (ATO): Fraudsters gain unauthorized access to customer accounts to steal funds or conduct illicit transactions. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2%

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Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. “Fraudsters know that higher transaction volumes and a demand for fast processing times leave merchants vulnerable to attacks. Behavioral Biometrics Ensure You Are You .

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PYMNTS

MAY 27, 2020

Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem that will only worsen if financial institutions (FIs) are not vigilant. Fraudsters equipped with such information could then easily access victims’ online accounts using legitimate credentials and take control of the customers’ funds.

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Scams Account Takeovers Online and Mobile Banking Credit Union 98

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. They mimic human browsing behaviors and distribute activity across devices to duck exposure.

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Bots Account Takeovers Cybersecurity Credential 43

PYMNTS

MAY 28, 2020

Recently, the company debuted Kount Control Account Takeover (ATO) Protection, which the company says is the only technology to provide three layers of protection against bots, credential stuffing and complex ATO attacks.

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Fraud Detection Fraud Prevention Account Takeovers Bots 52

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. When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature.

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Account Takeovers Data Breach Bots Credential 63

Innovative Payments Association

JUNE 26, 2024

Just a few days ago I learned that my mother was the victim of bank account fraud. Like most things, fraud hits a little differently when it is closer to home.

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Scams Federal Trade Commission Identity Theft Law Enforcement 52

PYMNTS

JANUARY 28, 2021

This new vigilance is the result of rampant cybertheft throughout the pandemic, from brazenly diverting government Paycheck Protection Program loans to the bad businesses of credential theft and account takeovers. Much of this is caused by criminals sensing opportunity. It’s on banks to deter them.

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Federal Trade Commission Scams Account Takeovers Fincen 97

PYMNTS

SEPTEMBER 21, 2018

This year, fraud will probably bring more account takeovers than last year, according to experts — along with the theft of gift cards, loyalty points and other consumer data ID. Account Takeovers. The 2018 holiday shopping season seems likely to feature account takeover as a bigger fraud feature than in years past.

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Account Takeovers Fraud Prevention Accounts Bots 58

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. “By

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Fraud Prevention Account Takeovers Identity Theft Data Breach 40

PYMNTS

AUGUST 10, 2020

In-game theft often isn’t the true target of fraudsters – it’s the access to more lucrative financial information and other such credentials that can be used for account takeovers and worse.

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Credential Account Takeovers Authentication Duplicate 56

PYMNTS

SEPTEMBER 29, 2016

Ghosemajumder said that credential stuffing attacks are a constant problem for online retailers, as increasingly more advanced hacking methods make it easier to run credential stuffing attacks through a number of different sites on a 24/7 basis.

Credential 69

Credential Online and Mobile Banking Account Takeovers Automation 69

PYMNTS

FEBRUARY 28, 2017

The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials. Who’s winning the account takeover battle? The company introduced biometric features to their app last year and credited those new features with winning the pair of awards.

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Account Takeovers Online and Mobile Banking Authentication Credential 43

PYMNTS

FEBRUARY 22, 2019

The fallout hits everyone involved via a fraudulent transaction, and, as the data shows, account takeovers are on the rise. Zekri said the “trust anchor” can carry extra weight through a government-issued credential “that has in it, and encompasses, the complete verification process that went into that credential.”

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Credential Account Takeovers Authentication Verification 52