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.”

Account Takeovers 85

Account Takeovers Data Breach Mitigation Breach 85

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.

Account Takeovers 59

Account Takeovers Credential Cybersecurity Breach 59

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.

APACS 80

APACS Fraud Prevention Deepfake Account Takeovers 80

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

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. Healthcare data breaches increased by 55% in 2023, affecting over 29 million records.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

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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Accounts Account Takeovers Data Breach Breach 115

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.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

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.

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Risk Cybersecurity Data Breach Ransomware 59

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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Phishing Data Breach Breach Scams 64

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.

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Account Takeovers Breach Security API 104

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.

Fraud Prevention 40

Fraud Prevention Identity Theft Account Takeovers Data Breach 40

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.

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Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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.

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Account Takeovers Data Breach Bots Credential 63

The Fintech Times

MAY 17, 2024

Regardless of whether they’ve been a victim of fraud or identity theft, most consumers worry daily about falling victim to data breaches (79 per cent) and account takeover attacks (77 per cent).

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

Accertify

AUGUST 22, 2024

Account takeover (ATO) attacks are a common threat to subscription service profits. This is where fraudsters take over an account after a data breach and order expensive downloads or products. The US-based National Retail Federation estimates that retailers will lose $3.68

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Federal Trade Commission Account Takeovers Data Breach Returns 52

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.

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Account Takeovers Breach Risk Accounts 67

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.

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Data Security Account Takeovers Security Cybersecurity 41

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

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?

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Account Takeovers Accounts Authentication Data Breach 52

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.

AI 78

AI Account Takeovers Data Breach Cybersecurity 78

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

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

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Account Takeovers Research EMV Data Breach 50

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.

Verification 89

Verification Authentication Economy Data Breach 89

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.

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Cybersecurity Ransomware RDC Credential 139

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.

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Data Breach Breach Cybersecurity Phishing 49

Accertify

AUGUST 16, 2024

Chargebacks are generated when consumers are confused by payments, forget auto-renewals, or suffer genuine fraud in the form of account takeover attacks. According to The Identity Theft Research Center (ITRC), 422 million individuals were impacted by a data breach in 2022 in the US alone 10.

Identity Theft 52

Identity Theft Disputes Account Takeovers Research 52

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

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.

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Account Takeovers Breach Risk Assessment Assessments 46

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.

Identity Theft 56

Identity Theft Account Takeovers Push-to-Card Social Security 56

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. Read the full story in the Playbook.

Online and Mobile Banking 79

Online and Mobile Banking AI Credit Union Breach 79

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.

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IRS Data Breach Identity Theft Breach 63

PYMNTS

SEPTEMBER 18, 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.”. More than 111 million U.S.

Verification 62

Verification Economy Authentication Account Takeovers 62

PYMNTS

FEBRUARY 2, 2017

The rise of information available via data breaches is particularly troublesome for the industry and a boon for fraudsters. 61 percent | Rise in account takeover losses. To successfully fight fraudsters, the industry needs to close security gaps and continue to improve, and consumers must be proactive, too.”.

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Account Takeovers Data Breach Research Breach 40

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.

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Fraud Detection Data Breach Account Takeovers Breach 43

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.

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Account Takeovers Faster Payments Credit Cards Fraud Prevention 46

PYMNTS

FEBRUARY 27, 2020

Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 The damage caused by fraud in the cloud service space can total in the millions of dollars, as demonstrated by the devastating Capital One data breach last year.

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

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.

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Account Takeovers CHIPS Chip Cards Fraud Detection 56