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

OCTOBER 1, 2019

Another day, another data breach – at least it seems that way sometimes. QSRs are fighting back against bad actors by partnering with third-party payment processors and incorporating security technologies to authenticate customers. Chipotle uses similar tools for securing its rewards program.

Data Breach 57

Data Breach Breach Account Takeovers Fraud Prevention 57

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

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

PYMNTS

SEPTEMBER 29, 2017

That the Equifax breach will be a major watershed moment in the history of data security, impacting consumers nationwide for years to come, is not a terribly controversial point. It’s why — even before the Equifax data breach — firms were exploring advanced technologies to improve security, such as biometrics.

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

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

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

M2P Fintech

MARCH 24, 2025

Future technological advancements, including blockchain for secure transactions, machine learning for personalized offers, and peer-to-peer lending platforms , promise to further enhance the digital lending landscape. This future means faster, more personalized, and secure lending experiences. With the market projected to soar to $ 71.8

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

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 107

APACS Fraud Prevention Deepfake Account Takeovers 107

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

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

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

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

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

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

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 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

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

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

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 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

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

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

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

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

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

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

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

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 Credit Union AI Breach 79

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

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

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 Account Takeovers Phishing AI 90

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

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. “Our goal is to help our customers manage security while providing the best experiences for their account holders.”

Credential 64

Credential FinTech Deepfake Fraud Detection 64

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

PYMNTS

NOVEMBER 6, 2017

Since 2004, October has been observed as National Cyber Security Awareness Month by the Department of Homeland Security (DHS). 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.

FS-ISAC 47

FS-ISAC Cybersecurity Account Takeovers NACHA 47

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