Fintech Review

APRIL 20, 2025

It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. The risks range from phishing and account takeovers to ransomware and insider threats. Cybertech sits at the intersection of cybersecurity and fintech. What Is Cybertech?

Finance 52

Finance Security Fraud Detection Encryption 52

The Fintech Times

APRIL 22, 2024

In 62 per cent of smartphone theft cases, businesses face severe financial and cybersecurity risks. Despite company efforts, lax PIN hygiene and open apps on stolen devices pose serious threats, including account takeover and ransomware attacks.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

FICO

NOVEMBER 24, 2020

Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. With that in mind, there are actions you can take right now to protect yourself from fraud and identity theft. COVID-related scams are rampant and rapidly evolving.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

The Payments Association

NOVEMBER 20, 2024

From payment card fraud and identity theft to chargeback fraud and refund fraud, scammers are continuously devising new ways to siphon money away from cardholders and merchants illegally. Finally, AI tools also have applications in identity verification.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

FICO

AUGUST 1, 2019

With the rapid rise of data breaches around the globe, the fear of identity theft is at an all-time high. What does it have to do with identity theft? I recently attended a conference where US Postal Inspector Brian Plants shared his perspective on the manifestation of a classic account takeover scheme.

Identity Theft 40

Identity Theft Credit Cards Data Breach Account Takeovers 40

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

AUGUST 21, 2020

These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft. Interactive teller machines (ITMs) offer a variety of services that are normally only available inside a physical branch, like loan applications and cash deposits.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

The Fintech Times

FEBRUARY 21, 2024

Identity theft to open a new account is the top-ranked concern at 30 per cent. Bank account takeover was ranked the crime most feared by 20 per cent of respondents. Biggest fears The FICO report also identifies the financial crimes that consumers are most worried about.

Consumer 122

Consumer Security Identity Theft Account Takeovers 122

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases.

Account Takeovers 97

Account Takeovers Fraud Detection Phishing Fraud Prevention 97

PYMNTS

NOVEMBER 16, 2020

Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.

Identity Theft 118

Identity Theft Credential Account Takeovers Fraud Prevention 118

PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

Fintech News

SEPTEMBER 29, 2024

As early as 2021, CNBC reported that criminals were exploiting weaknesses in the application processes of BNPL platforms, often using clever tactics like identity theft and account takeovers, making unsuspecting victims foot the bill. BNPL fraud is not a new phenomenon.

BNPL 130

BNPL Scams Identity Theft Non-Bank 130

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

Account Takeovers 96

Account Takeovers MFA Fraud Detection Credit Cards 96

The Fintech Times

MAY 17, 2024

Overall, 68 per cent of respondents either know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected. Finding a solution Identity verification is a key part of the solution for companies looking to secure themselves and ensure that their users are genuine.

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

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. million cases of medical identity theft, resulting in $41 billion in losses.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. When it comes to identity and risk management, there are so many smaller hills along the way that you have to scale and figure out: Is this a fraudster?

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

Fi911

JULY 19, 2024

It includes fraudulent transactions, account takeover, and identity theft. Fraud These reason codes are used when the cardholder claims that their card was used without their authorization or knowledge. EMV Liability Shift Counterfeit Fraud 10.2: EMV Liability Shift Non-Counterfeit Fraud 10.3:

Disputes 92

Disputes Duplicate Non-Bank Authorization 92

PYMNTS

MARCH 29, 2017

Online retailers just got a new tool in the fight against identity theft and fraud. 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.

Fraud Prevention 40

Fraud Prevention Identity Theft Account Takeovers Data Breach 40

Stax

NOVEMBER 11, 2024

Not only does this pass through more hands and take more time than an electronic ACH payment , but there is also a huge amount of personal information present on a paper check, exposing the payer to potential identity theft. Beyond the inconvenience of mailing a paper check, there is an increased risk of identity theft.

ACH 88

ACH Checks Identity Theft Payments 88

Fintech News

JUNE 6, 2024

Benefits of Digital Identity Verification Beyond Security The adoption of a complete and flexible identity verification platform, such as Jumio’s, is becoming increasingly important in the fight against scams and AI-driven fraud.

Scams 107

Scams Phishing Deepfake Verification 107

The Fintech Times

AUGUST 17, 2024

Insights from behavioural analytics help mitigate: fraud in real-time prevent identity theft account takeover bot attacks next-generation bot attacks fraud rings This will empower businesses to provide a seamless customer experience. Jack Alton, CEO at NeuroID “We are in a new era of fraud driven by AI.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

PYMNTS

FEBRUARY 22, 2018

Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 Also having a record breaking year — powered by all those stolen social security numbers — was new account fraud, which rocketed up 70 percent in 2017. That fraud run saw $16.8

Identity Theft 56

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

Finovate

OCTOBER 24, 2024

Effectiv, which demoed at FinovateFall 2023, was founded in 2021 to provide an open platform that integrates a wide range of risk solutions– including identity and payment fraud controls, underwriting, Know Your Business (KYB) and anti-money laundering (AML) tools– to facilitate decisions in real-time.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

PYMNTS

OCTOBER 26, 2016

With massive cyberattacks like the recent Yahoo data breach — which compromised the personal data of an estimated 500 million user accounts — it’s clear that payment data isn’t the only information that needs to be protected. to provide additional layers of security.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

PYMNTS

AUGUST 29, 2019

Account takeovers (ATOs), identity theft and phishing were found to be the most common methods of attack in this region. A recent report found that ASEAN nations are projected to lose $260 million to online fraud this year, with eCommerce companies bearing the brunt of these losses.

Account Takeovers 63

Account Takeovers Identity Theft Fraud Prevention Blockchain 63

PYMNTS

OCTOBER 29, 2018

The various parts come together to produce a nefarious whole, one that targets personal and payment data to enable product or identity theft , account takeovers and other illegal activities that, left unchecked, can ruin lives and take down companies.

Fraud Prevention 79

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

Accertify

NOVEMBER 16, 2023

Key topics include some of the year’s biggest trends such as identity theft and the use of synthetic identities, romantic scams, Authorised Push Payment (APP) fraud and GenAI fraud. Accertify feature on page 77 and you can access the report here.

Fraud Prevention 40

Fraud Prevention Identity Theft Account Takeovers Scams 40

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. Check yourself before you wreck yourself.

IRS 63

IRS Data Breach Identity Theft Breach 63

The Fintech Times

MARCH 6, 2024

Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering. In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies.

AI 59

AI Fraud Prevention Identity Theft Account Takeovers 59

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. The Many Ways To Play At Fraud.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

The Paypers

OCTOBER 2, 2018

(The Paypers) A TransUnion study has revealed that 94% of financial services have experienced fraud within the last two years, such as identity theft, synthetic identity fraud or account takeover.

Identity Theft 28

Identity Theft Account Takeovers Accounts 28

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. This comes to approximately one hack every 39 seconds, and affects a wide range of businesses and customers.

Phishing 64

Phishing Data Breach Breach Scams 64

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

PYMNTS

JANUARY 16, 2020

Synthetic identity theft — and all its subsequent fraud events — remains a treasured tactic among cybercriminals, and even today’s AI has trouble detecting it. These fraudsters, on average, take about 12 to 18 months to build out false identities that can fool many of the anti-fraud measures in use.

AI 53

AI Identity Theft Authentication Verification 53

FICO

JANUARY 22, 2020

Interestingly, nearly half of the respondents (46 percent) are currently only using 1 or 2 of these strategies , potentially leaving them more exposed to attack vectors such as identity theft, account takeovers, cyberattacks. Account takeovers were ranked second, with false accounts and money mules also rated as problems.

Real Time Payments 52

Real Time Payments APACS Multifactor Authentication Account Takeovers 52

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.

Online and Mobile Banking 78

Online and Mobile Banking Account Takeovers Breach Data Breach 78