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 57

AI Fraud Prevention Identity Theft Account Takeovers 57

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

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

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

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

Innovative Payments Association

JUNE 26, 2024

Just a few days ago I learned that my mother was the victim of bank account fraud. Secure Personal Information: Never give out personal information over the phone, through email, or online unless you initiated the contact and are sure of the recipient's identity.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

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. Ask an Expert CEO Fraud CEO fraud is a catch-all term for the exploitation of the account of a high-ranking organizational official, such as a CEO or an investor.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

FICO

MAY 19, 2020

Phishing emails for airfare refunds, charitable contributions, fake cures and vaccines, financial relief, federal emergency funds, and more will proliferate. This will result in more cases of account takeover during this time and for months ahead. There will also be an increase in the potential account takeover risks.

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 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 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 Account Takeovers FTC Phishing 69

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. Third-party account takeovers were only responsible for 7 percent of fraud losses.

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. million, with an average of $136 being stolen per phishing attack.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

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