PYMNTS

SEPTEMBER 29, 2017

Historically, in a multifactor authentication scheme, the combination of all those data elements was what prevented the bad guys from getting access. There may be no silver bullets, but there are mitigations to the situation. Unfortunately, Brown admitted, that isn’t even the bad news in this story. So, is it time to give up?

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

FICO

JANUARY 22, 2020

Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactor authentication (84 percent). When they are successful, criminals are making use of real-time payments to move funds quickly through a maze of global accounts.

Real Time Payments 52

Real Time Payments APACS Multifactor Authentication Account Takeovers 52

The Payments Association

JANUARY 14, 2025

“Unauthorised fraud often stems from device theft,” Davey explained, noting that once criminals gain access to interconnected apps, they exploit the ecosystem to drain accounts. Fraudsters often exploit advanced social engineering tactics to deceive consumers into granting access to their accounts. .”

Fraud Prevention 88

Fraud Prevention Financial Crimes Crime Participant 88