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

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

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

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 105

APACS Fraud Prevention Deepfake Account Takeovers 105

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

AUGUST 27, 2020

Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points. 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. About The Playbook.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

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

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

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

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

The Fintech Times

MAY 17, 2024

It’s essential that businesses and consumers collaborate to enhance digital security measures to effectively prevent identity fraud.” 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

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. So, while consumer tech may be getting more secure, fraudsters are also getting more cunning.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

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

SEPTEMBER 24, 2018

As such, businesses are now investing in their security and fraud prevention technology and solutions. PYMNTS explores the world of cybercrime in this inaugural Digital Fraud Tracker , including how fraudsters target their victims and the ways security providers are working to stop them. . How Cybercrime Happens.

AI 78

AI Account Takeovers Data Breach Cybersecurity 78

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

PYMNTS

SEPTEMBER 17, 2020

The challenges of maintaining this trust are now under pressure from the COVID-19 pandemic, however, which has seriously battered the sharing economy as ride- and homesharing businesses develop tactics to convince consumers of their security and restore the sector. . Seamless, Secure Onboarding . More than 111 million U.S.

Verification 89

Verification Authentication Economy Data Breach 89

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

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

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

“After five years of relatively small growth or even decreases in fraud, this year’s findings drives home that fraudsters never rest and that when one area is closed, they adapt and find new approaches,” said Al Pascual, senior vice president, research director and head of fraud & security, Javelin Strategy & Research, in the press release.

Account Takeovers 50

Account Takeovers Research EMV Data Breach 50

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

Identity Theft 56

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

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

Seon

JUNE 24, 2024

Still, the pursuit can be defined as endeavors that ensure secure and reliable digital identity management, including preventing unauthorized access to sensitive information, such as login credentials, PII and financial information. Digital footprint data serves as valuable forensic evidence in security incidents or breaches.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

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?

Account Takeovers 52

Account Takeovers Accounts Authentication Data Breach 52

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.

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

PYMNTS

SEPTEMBER 18, 2020

Creating a secure yet convenient experience for on-boarding customers to sharing economy services is critical,” the new Digital Identity Tracker® states. Attracting more participants in the sharing economy requires that new and existing users feel comfortable sharing their homes, cars, assets or expertise. Factoring In Authentication.

Verification 62

Verification Economy Authentication Account Takeovers 62

PYMNTS

FEBRUARY 2, 2017

“After five years of relatively small growth or even decreases in fraud, this year’s findings drives home that fraudsters never rest and that when one area is closed, they adapt and find new approaches,” said Al Pascual, senior vice president, research director and head of fraud and security atJavelin Strategy & Research, in the press release.

Account Takeovers 40

Account Takeovers Data Breach Research Breach 40

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

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. Those that do can then be identified for further training, eliminating weak links in the security chain.

Phishing 70

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

PYMNTS

FEBRUARY 27, 2020

Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 Dropbox is one platform working to keep its data safe from cybercrime, utilizing a three-part approach to fight illicit activity.

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. 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

JUNE 26, 2018

In a world where faster payments are becoming more mainstream, including 12 countries with established Real-Time Payments systems and 45 others in various stages of development, it’s no wonder that security remains top of mind for stakeholders. Account takeovers are finding favor among fraudsters. How much ground?

Account Takeovers 46

Account Takeovers Faster Payments Credit Cards Breach 46

PYMNTS

JUNE 12, 2018

Entersekt , the push-based authentication and app security company, announced Tuesday (June 12) that it has opened a new office in Atlanta, Georgia, aimed at supporting the company’s growth and serving as the headquarters in North America.

Authentication 40

Authentication Account Takeovers Data Breach Acquirers 40

PYMNTS

DECEMBER 21, 2020

use smartphone apps for food delivery, with this figure rising even higher when accounting for takeout or curbside pickup,” the Tracker states , adding that by 2023, some 54 million consumers will use MOA apps. As the Tracker notes, a recent data breach of a mobile order-ahead app leaked 2.8 million accounts onto the dark web.

Bots 60

Bots Fraud Detection Account Takeovers Breach 60

PYMNTS

MARCH 20, 2020

Madrid, Spain-based security firm buguroo is combatting account opening fraud with its bugFraud solution, which uses deep learning to detect fraud by measuring how application processes compare to legitimate transactions. Solution providers around the world are preparing to counter such attacks.

Fraud Prevention 90

Fraud Prevention AI Account Takeovers Phishing 90

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. There will be interviews with respected fraud and security practitioner, who will give their thoughts on best practice strategy and operational frameworks.

Identity Theft 72

Identity Theft Account Takeovers Best Practices Data Breach 72