PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth. Fraud Prevention Innovation.

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Account Takeovers Accounts Fraud Prevention Credit Cards 47

Fintech News

MAY 27, 2024

The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 million in 2021.

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APACS Data Breach FinTech Fraud Prevention 114

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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Fraud Prevention Account Takeovers Phishing Push-to-Card 102

PYMNTS

APRIL 13, 2020

For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however.

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Security Account Takeovers Caps Accounts 129

Fintech Finance

OCTOBER 21, 2024

Award-winning Swiss FinTech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay , the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures. PalawanPay and other financial institutions are taking these threats seriously.

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Fraud Prevention Account Takeovers APACS Scams 98

Fintech Finance

MARCH 3, 2025

Antom , a leading unified merchant payment services provider under Ant International, has received Service Organization Control (SOC) 2 Type II certification, a globally recognised benchmark for data security and privacy protection. The audit firm will conduct annual reviews, and Antom will continue its recertification process.

Fraud Prevention 52

Fraud Prevention Fraud Detection AI Risk Management 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?

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Account Takeovers Accounts Authentication Data Breach 52

The Fintech Times

FEBRUARY 21, 2024

The need and desire for fraud protection has evolved. Once simply viewed as a necessary overhead, good fraud prevention measures are now a very strong way of obtaining new customers and keeping existing ones. Biometrics were a top choice for security measures with 68 per cent preferring to use fingerprints.

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Consumer Security Identity Theft Account Takeovers 122

PYMNTS

DECEMBER 18, 2020

Cybercriminals are well aware that merchants are setting higher thresholds for blocking transactions, which is a major flaw of rules-based fraud prevention strategies.”. Digital fraud is a longstanding issue for retailers and banks. Furthermore, 22 percent of Americans have reported being targeted by COVID-related fraud.

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Account Takeovers Blocks Fraud Prevention Rules 133

The Fintech Times

MARCH 30, 2025

Others in the class offer AI- and machine learning-enhanced technology modernisation strategies, along with risk, compliance, and security solutions. IronVest (New York) a cross-channel fraud prevention platform that fuses user identity with intent to eliminate account takeovers, scams, first-party fraud, and onboarding threats.

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Innovation FinTech AI Underwriting 80

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.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

The Fintech Times

MARCH 18, 2024

The fraud prevention industry is experiencing rapid growth in response to amplified regulatory pressure and increasingly sophisticated threats of online fraud. It has revolutionised convenience for consumers and created new business opportunities, but it has also opened a Pandora’s box of fraud risks.

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Fraud Prevention AI Fraud Detection Payments 59

Fraud.net

DECEMBER 1, 2023

Modern account takeover protection requires implementing machine learning, geolocation, and anomaly detection to spot and prevent ATO fraud.

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Account Takeovers Best Practices Accounts Fraud Detection 52

PYMNTS

OCTOBER 23, 2017

And yet, despite headlines featuring Equifax, Sonic, Deloitte and Whole Foods – and cybersecurity companies consistently preaching that attacks are not a matter of “if” but “when” – many organizations are still not taking fraud prevention seriously. The Security Love Triangle. saving money) over security.

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Account Takeovers Accounts Cybersecurity Bots 53

The Payments Association

DECEMBER 11, 2024

Digital payments demand advanced fraud prevention, blending AI and human intelligence to counter evolving threats while ensuring seamless user experiences. Multifaceted approaches to fraud prevention Effective fraud prevention now requires a combination of technological and human intelligence, transcending traditional security models.

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Fraud Prevention Risk Assessment Payments Account Takeovers 88

The Fintech Times

OCTOBER 21, 2024

PalawanPay , a payroll, debt collection, payments, cash transactions, and remittance service provider in the Philippines, has selected Swiss fintech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, to bolster its fraud prevention measures.

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Fraud Prevention Account Takeovers APACS Scams 52

Fintech News

MARCH 20, 2024

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. This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks.

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APACS Fraud Prevention Deepfake Account Takeovers 107

PYMNTS

APRIL 9, 2020

Building a secure customer journey is always a bit of a balancing act. It has to be secure first and foremost, particularly when payments data is on the line. The battlegrounds for preventing fraud, he noted, are shifting — which means firms need to be able to shift with and ahead of the fraudsters.

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Account Takeovers Fraud Prevention Push-to-Card Accounts 94

Payments Source

DECEMBER 20, 2016

The scourge of account takeover isn't lost on Citizens Union Bank, which is involving its business customers — or rather, their biometric traits — in improving the security of their accounts.

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Account Takeovers Security Accounts End User 73

Fi911

JULY 8, 2024

The rise of online shopping has made eCommerce fraud an increasingly prevalent and sophisticated threat, necessitating advanced security measures to protect both merchants and customers. What, exactly, are we talking about when we talk about “eCommerce fraud?” But, what exactly are those threats?

Account Takeovers 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

JUNE 22, 2018

In the pages of the latest Smarter Payments Tracker , PYMNTS examines the latest tactics being adopted by fraudsters today — and what security solution providers are doing to stop them in their tracks. . As the number of cyberattacks continues to rise, so do the concerns surrounding the security of consumer data.

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Account Takeovers Accounts Data Breach Breach 43

PYMNTS

JANUARY 24, 2019

Fraud Getting Worse. In many cases, Yu told Webster, the fraud situation is “much worse than before,” especially when it comes to ID theft and account takeovers. Timing, too, works against issuers and financial institutions, especially when it comes to the fraud-or-credit-risk determination. Baseline Advantage.

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Credit Risk Risk Fraud Prevention Account Takeovers 69

PYMNTS

JUNE 14, 2019

Online games store and centralize users’ payment information, making them prime targets for hackers who acquire data via account takeovers (ATOs). Account takeovers: the ultimate boss fight. ATOs are arguably the most nefarious type of fraud. Younger gamers are particularly vulnerable to this type of fraud.

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Account Takeovers Accounts Scams Phishing 46

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. Starbucks is one quick-service restaurant (QSR) making hay in the mobile ordering scene, with a recent earnings call revealing that digital orders accounted for a full 17 percent of its revenue during Q1 2020.

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Account Takeovers Credential AI Fraud Prevention 85

PYMNTS

NOVEMBER 16, 2020

Leslie Ragan manages transaction fraud prevention for Elan Financial Services , a unit of U.S. In an interview with PYMNTS, Ragan said technology developments have enhanced the industry’s fraud-fighting strategies, but customer awareness is still a critical component of preventing bad actors from succeeding.

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Identity Theft Credential Account Takeovers Fraud Prevention 118

PYMNTS

MAY 8, 2020

Building that experience properly, he noted, means allowing consumers to create accounts with stored credentials and data — because to build a competitive digital service means building one that works smoothly, not one that consumers have to continually relog into.

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Security Account Takeovers Credential Compromise 97

PYMNTS

SEPTEMBER 24, 2020

Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish. Social Security numbers. Identity fraud accounted for $16.9 It’s like the Social Security number in the U.S.,” Shetty explained.

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Account Takeovers Database Authentication Crime 82

PYMNTS

OCTOBER 29, 2018

Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations. It’s about combining insight and connecting the dots” when it comes to fraud, he told Webster. Human Role.

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Fraud Prevention Identity Theft Third-Party Service Provider Account Takeovers 79

Accertify

NOVEMBER 16, 2023

The Paypers Fraud Prevention in Ecommerce 2023 – 2024, Keeping Fraudsters Out While Balancing a Seamless Customer UX has been released and it has been made available for download. It discusses the most common, yet ever-evolving types of fraud, including chargebacks, scams, and account takeover (ATO), with their latest developments.

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Fraud Prevention Identity Theft Account Takeovers Scams 40

PYMNTS

JANUARY 28, 2021

The latest Digital-First Banking Tracker® done in collaboration with NCR , notes that “FIs are devoting more money than ever to fraud prevention as more consumers go digital. This development comes as 68 percent of fraud experts report increases in cybercrime over the past year.”. Quick And Seamless Security.

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Federal Trade Commission Scams Account Takeovers Fincen 97

PYMNTS

OCTOBER 29, 2018

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. New open banking tools mean new types of financial transactions, which could make fighting digital fraud even more difficult for banks.

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Security Payment APIs and Integration API Authentication 76

The Fintech Times

DECEMBER 18, 2023

Rise in social engineering Doriel Abrahams, head of risk, Forter Doriel Abrahams , head of risk at payment optimisation and fraud prevention platform Forter, also expects social engineering will “take a giant leap forward” in 2024. When you think about it, it’s the high-tech version of social engineering.

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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. Balancing seamless-but-fraud-free user experiences requires careful effort, however.

Fraud Prevention 90

Fraud Prevention Account Takeovers Phishing AI 90

Fintech News

JUNE 6, 2024

Recent phishing and fraudulent cases involving multiple banks in Singapore have highlighted the severity of this issue and the urgent need for banks to enhance their security measures. By sharing important intelligence on emerging fraud trends, banks can stay ahead of the curve and adapt their security measures accordingly. “A

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Scams Phishing Deepfake Verification 107

PYMNTS

OCTOBER 13, 2017

With countless incidents of fraud occurring every day, some of which have made international headlines and impacted millions, cybersecurity and fraud prevention are top-of-mind for individuals and companies alike. How can they do that in an environment in which the security status quo is no longer appropriate?

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Data Security Account Takeovers Security Cybersecurity 41

PYMNTS

OCTOBER 16, 2020

Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016. Bank customers are largely on board with these new security measures, but only t o a point.

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Zelle P2P Scams Financial Crimes 89

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.

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AI Account Takeovers Data Breach Cybersecurity 78