PYMNTS

FEBRUARY 26, 2020

Security standards have largely not kept up with such threats, according to a joint study from Javelin Research and Kount. One use case for AI-powered security comes from third-party ordering app ChowNow , which uses such security systems to analyze transactions conducted on its app. AI in Action.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

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. Next, the fraudster essentially takes over the account and purchases from the site. The main offender, constituting 29.8

Account Takeovers 92

Account Takeovers Credential Automation Bots 92

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.

Identity Theft 118

Identity Theft Credential Account Takeovers Fraud Prevention 118

The Fintech Times

DECEMBER 18, 2023

“A lot of consumer technology ( Apple Pay , for example) is prioritising highly secure and personalised experiences, relying on biometrics and specific device features. So, while consumer tech may be getting more secure, fraudsters are also getting more cunning.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

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

PYMNTS

MAY 8, 2020

Building that experience properly, he noted, means allowing consumers to create accounts with stored credentials and data — because to build a competitive digital service means building one that works smoothly, not one that consumers have to continually relog into.

Security 97

Security Account Takeovers Credential Compromise 97

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

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

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.

Scams 98

Scams Account Takeovers Online and Mobile Banking Credit Union 98

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.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

The Fintech Times

DECEMBER 18, 2023

As a result of AI and other emerging technologies, the need for accurate and secure authentication is at an all-time high. Continuous authentication enhances security by making it challenging for unauthorised users to replicate legitimate user behaviour. The shift will unlock a more secure online future for us all.”

Authentication 64

Authentication Continuity Security Account Takeovers 64

PYMNTS

SEPTEMBER 29, 2016

Which is why online retailers are increasingly turning to companies like Shape Security , a Mountain View, California-based provider of web and mobile security applications founded in 2011, to counter ever-increasingly sophisticated types of cyberattacks. billion in fraud losses. billion in fraud losses. “We

Credential 69

Credential Online and Mobile Banking Account Takeovers Automation 69

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.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

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

JANUARY 28, 2021

Quick And Seamless Security. 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.

Federal Trade Commission 97

Federal Trade Commission Scams Account Takeovers Fincen 97

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. Stay Safe, Stay Vigilant.

Security 65

Security Cybersecurity Authentication Account Takeovers 65

PYMNTS

JUNE 5, 2020

Partnering with FinTechs that have lax security creates very real issues: Criminals could abuse open banking-powered payment apps to launder money, for example, or take over accounts and steal victims’ funds. The federal entity is charged with monitoring the U.S. Even if your products are not covered per FinCEN in the U.S.,

Money Laundering 69

Money Laundering Security Payment APIs and Integration FinTech 69

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. Security Solutions. Other restaurants are turning to biometrics to increase security. So, what are the downsides?

Account Takeovers 63

Account Takeovers Data Breach Bots Credential 63

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. FIs have adopted numerous security methods as they seek to protect customers’ accounts from falling into the wrong hands with the right login details.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

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

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. In a round led by CIBC Innovation Banking, Texas-based cybersecurity company SpyCloud has secured $35 million in growth funding.

Account Takeovers 59

Account Takeovers Credential Cybersecurity Breach 59

PYMNTS

JULY 21, 2020

This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). Consumers are more likely to fall victim to fraudulent schemes when they assume there are stricter security measures protecting their P2P app transactions than there are in truth.

P2P 60

P2P Scams Security Account Takeovers 60

PYMNTS

APRIL 2, 2020

The goal for any security platform aiming to enable digital commerce is as simple in concept as it is incredibly difficult to execute: Give the good customers a great experience, and give the bad guys pretending to be good customers a rough ride. But consumers aren’t feeling so magnanimous toward friction these days, he noted.

Account Takeovers 61

Account Takeovers Credential Accounts Bots 61

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. PYMNTS’ latest Digital Fraud Tracker® , done in collaboration with Simility , is a study in the forces impacting fraud and security in a year when cyberthieves have been having a field day.

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

JULY 1, 2019

Account Takeovers Plague the QSR Industry. Cybercriminals can obtain stolen identities for as little as $4, meaning it’s easier than ever for them to launch account takeover (ATO) attacks. Such details can also be acquired via phishing schemes. Scamming, the Old-fashioned Way.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

APRIL 23, 2019

Money laundering, account takeovers and other illicit activities threaten to turn away legitimate consumers, as well as the government agencies that provide gaming licenses. . The company can often verify users’ names, ages and the last four digits of their Social Security numbers before requiring them to provide additional details.

Money Laundering 43

Money Laundering SWIFT Security Account Takeovers 43

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).

Account Takeovers 52

Account Takeovers Risk Bots Scams 52

PYMNTS

AUGUST 7, 2020

Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April. 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.

Phishing 89

Phishing Data Breach Account Takeovers Verification 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. 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.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise. Next-Level Payments Security. Foiling AP fraud may be tricky, but automation systems can bring payments security to the next level.”.

Scams 63

Scams Automation Phishing Email Compromise 63

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.

Account Takeovers 43

Account Takeovers Online and Mobile Banking Authentication Credential 43

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.

Bots 52

Bots Account Takeovers Cybersecurity Credential 52

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.

Account Takeovers 58

Account Takeovers Fraud Prevention Accounts Bots 58

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

PYMNTS

AUGUST 10, 2020

With this kind of digital nastiness afoot, game platforms and their payments and technology partners are beefing up security in the space, keeping winners and losers on-screen only. Security Is All Fun and Games. Gaming the System.

Credential 56

Credential Account Takeovers Authentication Duplicate 56

Braintree

AUGUST 26, 2019

As part of our ongoing mission to keep your data secure, Braintree is pleased to announce that we now support hardware two-factor authentication (H2FA) in the Control Panel, providing a new way for merchants to help keep their accounts secure. When a user activates H2FA, the specific key used is linked to their user account.

Authentication 52

Authentication Phishing Account Takeovers Breach 52