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

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. 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

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. In 2023, 83% of financial institutions reported an increase in phishing attacks.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

FEBRUARY 10, 2017

With today’s ability to hit thousands or even millions of users in a few hours through a phishing attack that infects laptops and smartphones, fraudsters could potentially grab a very large amount of credit card information typed in by users during their next online purchase,” Cagnoni explained. Identity Fraud On The Rise.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

PYMNTS

MARCH 20, 2020

In the March Merchant Fraud Decisioning Playbook , PYMNTS examines how AI and ML are enabling merchants to gather information from various data sources, transforming those details into actionable insights and bypassing the manual reviews that can leave them unable to keep up with fraudsters’ ever-evolving efforts.

Fraud Prevention 90

Fraud Prevention Account Takeovers AI Phishing 90

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

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

PYMNTS

FEBRUARY 27, 2020

Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. Fraud continues to increase in many areas, despite extensive attempts to bring it to heel.

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

PYMNTS

NOVEMBER 7, 2016

There are those high-profile credit card data breaches that create massive headaches for merchants, while the Federal Bureau of Investigation has continually warned the nation about corporate phishing attacks that specifically target the B2B and supplier payment process, convincing businesses to pay a fake supplier. .

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

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

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). They might hack databases to obtain information like consumers’ emails and phone numbers or they might find such information already available on the dark web from previous data breaches.

P2P 60

P2P Scams Security Account Takeovers 60

PYMNTS

APRIL 24, 2018

Of these, none are more insidious than Account Takeover, aka ATO. It’s likely the fraudster changed the password and security questions on the account, so if the true customer tries to log in, he could end up looking like the bad guy! Getting Their Hands on Data.

Bots 50

Bots Breach Credential Data Breach 50

PYMNTS

SEPTEMBER 6, 2019

The healthcare industry is also busy fending off fraudsters in its contact centers, especially as seniors face an increase in phishing attempts and robocalls. Fraudsters targeted new account creations and payments, but account logins remained relatively safe from quarter to quarter in 2018.

MFA 49

MFA Authentication Phishing Verification 49

FICO

FEBRUARY 9, 2021

Whilst some fraud will be carried out quickly, we still expect many of the fraudsters to play the long game, executing so-called data farming scams aimed less at a quick buck than at stealing data that can be used later. Passport numbers, ID cards, and even health insurance have all been recent subjects of data farming scams.

Scams 52

Scams Tax Scams Account Takeovers Breach 52

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

Fraud.net

SEPTEMBER 23, 2024

Payment processing security is at risk. Learn the top threats and best practices to protect your transactions and prevent fraud.

Best Practices 52

Best Practices Process Security Payments 52

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.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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