PYMNTS

OCTOBER 1, 2019

Another day, another data breach – at least it seems that way sometimes. These businesses felt unequipped to handle mobile attacks (32 percent) and synthetic identity fraud (32 percent) in equal measures, while account takeovers posed problems for 25 percent. million consumers, delivery workers and merchants.

Data Breach 57

Data Breach Breach Account Takeovers AI 57

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.

Accounts 115

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.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

PYMNTS

SEPTEMBER 29, 2017

It’s why — even before the Equifax data breach — firms were exploring advanced technologies to improve security, such as biometrics. Protecting Data in the Post-Breach Era. In some sense, a bad data breach is good business for companies that are in the business of securing call centers. The good news?

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

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.

Account Takeovers 104

Account Takeovers Breach Security API 104

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 104

APACS Fraud Prevention Deepfake Account Takeovers 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.

Account Takeovers 61

Account Takeovers Data Breach Credential Breach 61

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.”.

Security 129

Security Account Takeovers Caps Accounts 129

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 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.

Phishing 64

Phishing Data Breach Breach Scams 64

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.

Real Time Payments 92

Real Time Payments Financial Crimes Crime Account Takeovers 92

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

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.

Account Takeovers 63

Account Takeovers Data Breach Bots Credential 63

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 Account Takeovers Identity Theft Data Breach 40

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

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.

Account Takeovers 67

Account Takeovers Breach Risk Accounts 67

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

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

Account Takeovers 50

Account Takeovers Research EMV Data Breach 50

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

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.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

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.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

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. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

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

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

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.

Data Security 41

Data Security Account Takeovers Security Cybersecurity 41

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

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

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

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

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.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

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?

Identity Theft 72

Identity Theft Account Takeovers Best Practices Data Breach 72

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

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

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. Both involve fraudsters convincing employees to reveal sensitive information or install malware.

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

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.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

Finovate

AUGUST 14, 2024

Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. Founded in 2012 and headquartered in New York, Socure most recently demoed its technology on the Finovate stage at FinovateFall 2017. .

Credential 64

Credential FinTech Deepfake Fraud Detection 64