PYMNTS

SEPTEMBER 18, 2020

When you create a new online account, we are capturing an image of the government-issued ID and a 3D face map. When future user authentication is needed, Jumio Authentication captures a fresh 3D face map and compares it to the original face map to unlock the user’s accounts,” Pointner said.

Verification 62

Verification Economy Authentication Account Takeovers 62

PYMNTS

FEBRUARY 18, 2020

This opens the door to new avenues of attack by those who wish to steal data, hijack accounts and make off with ill-gotten gains, as Eric Kraus, vice president of risk, fraud and compliance at FIS , told PYMNTS in a recent interview.

Fraud Prevention 66

Fraud Prevention Account Takeovers Online and Mobile Banking P2P 66

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. It’s all about the connections, and recognizing them,” he said.

Fraud Prevention 79

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

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

JUNE 26, 2018

Account takeovers are finding favor among fraudsters. Account takeovers have the double-barreled effect of being easier to complete successfully — for the bad guys — and are harder to head off (by the good guys). Speaking geographically, origination points congregated around China, Russia and Indonesia, said Akamai.

Account Takeovers 46

Account Takeovers Faster Payments Breach Credit Cards 46

M2P Fintech

MARCH 24, 2025

AI is poised to revolutionize loan origination. Emphasis on Cybersecurity and Data Privacy Digital lending faces rising threats: data breaches from hacking, fraud via synthetic identities, account takeovers exploiting weak security , ransomware disrupting operations, and insider threats.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

FICO

JANUARY 15, 2018

It is difficult for a receiving bank to spot this behavior in time to prevent it, particularly when the money can be hopped quickly through several such mule accounts, before arriving in an account the fraudster can extract it from. The original vector of attack, the social engineering and the payment have already happened.

Irrevocability 66

Irrevocability Payments Account Takeovers Real Time Payments 66

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. To offer customers faster and better originations processes, banks need to automate more – without increasing risk. Step 3: Manage Identity Across the Customer Lifecycle. Identity verification.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Verification 52

FICO

DECEMBER 13, 2022

While many FIs have worked to streamline digital banking experiences, they have constantly had to add friction back into processes to prevent fraudster tactics, like SIM swaps, account takeover, and impersonation scams. However, this aversion to badly thought-out identity checks extends to use of existing accounts.

Security 52

Security Account Takeovers Authentication Payee 52

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). Criminals that successfully convince users to hand over login information can take control of the accounts and block out the original owners. Fraudulent Sellers.

P2P 60

P2P Scams Security Account Takeovers 60

Fintech Finance

MAY 30, 2024

Mangopay’s Fraud Prevention solution provides a fully integrated and payment processor-agnostic AI-driven cybersecurity solution to guard against an evolving range of threats, including account takeover by both bots and humans, reseller fraud, payment fraud, chargebacks, and return abuse.

Fraud Prevention 52

Fraud Prevention AI Payment APIs and Integration Fraud Detection 52

PYMNTS

JANUARY 24, 2020

Approximately 49 percent of customers report worrying about credit card theft, while 41 percent fear account takeovers (ATOs). Fraudsters continue to haunt the mobile order-ahead industry, however, which is concerning for both mobile app users and the restaurants that provide them. Deep Dive: QSRs struggle with coupon fraud.

Account Takeovers 56

Account Takeovers Duplicate Data Breach Breach 56

PYMNTS

MAY 7, 2018

In a survey of financial institutions facilitating Same-Day ACH for their customers – which collectively account for about 66 percent of ACH origination volumes – NACHA found that exactly zero percent reported an increase in fraud. That doesn’t mean that fraud linked to ACH transactions is nonexistent, however. ”

Same Day ACH 47

Same Day ACH Fraud Detection ACH NACHA 47

PYMNTS

NOVEMBER 30, 2017

Fraud is on the rise, especially account takeover fraud , and the growing sophistication of fraudsters – paired with the massive quantities of credit card and personal information now available on the dark web – could create a perfect storm for cybercriminals around the world this holiday season. Bah, Humbug.

Account Takeovers 42

Account Takeovers On-Demand Data Breach Accounts 42

FICO

JANUARY 7, 2019

In the area of account originations, our credit risk and fraud scores are designed to be a tool to assist lenders with compliance to applicable fair lending laws such as the Fair Credit Reporting Act, Regulation B, and the Equal Credit Opportunity Act (ECOA).

Posting 74

Posting AI Fraud Detection Security 74

PYMNTS

FEBRUARY 11, 2020

Domino’s was one of the original restaurant chains to drive disruption with the development of an online tracker. A slightly fewer share – 41 percent – are worried that dining apps might cause an account takeover (ATO).

Innovation 57

Innovation Account Takeovers Ubiquitous Technology 57

FICO

FEBRUARY 28, 2018

Instead of coding up and alerting on known patterns of how fraud operates, machine learning analytics are sensitive to the complex, multi-variate attributes that predict fraud – whether it’s payments fraud, application fraud, account takeover, mass card compromise, or more. fraud and non-fraud) examples.

AI 69

AI Best Practices Identity Theft Account Takeovers 69

PYMNTS

MARCH 5, 2019

She stated, too, that a fraud detection team is tasked with watching for and preventing account takeovers. For example, a traveler may pay a deposit and part of the entire stay when making the original booking and be charged the remainder when the actual trip takes place. An example of a regional nuance is our Brazilian market.

Economy 59

Economy Cross-Border Alternative Payment Methods Account Takeovers 59

FICO

AUGUST 16, 2019

However, even as the two groups have distinctly different functions at most financial institutions, both touch almost every point of the customer lifecycle — from marketing to origination, to management, to account closure — including collections and recovery.

Credit Risk 40

Credit Risk Risk Identity Theft Account Takeovers 40

PYMNTS

DECEMBER 15, 2017

Its services can detect several different types of fraud, reports said, including account origination fraud and account takeover fraud. The company deploys machine learning technology for its fraud detection services used by companies large and small.

Finance 46

Finance Point-of-Sale (POS) Account Takeovers B2B 46

PYMNTS

NOVEMBER 22, 2017

Account takeover fraud , card-not-present (CNP) fraud, tax fraud, selling stolen financials, selling fake bank accounts, the Dark Web: If security experts are fighting it today, chances are that Brett Johnson was there when it started. Account takeovers , said Johnson, are easy. Lessons Learned.

Account Takeovers 48

Account Takeovers Law Enforcement Push-to-Card Crime 48

PYMNTS

APRIL 14, 2017

For example, some fake accounts perform normal user activities such as logging in, updating a profile, following other users, etc., This technique of aging fake accounts can make the malicious accounts appear very similar to other users and evade detection. Another dangerous attack is account takeover (ATO).

Account Takeovers 44

Account Takeovers Online and Mobile Banking Credential Compromise 44

FICO

JUNE 8, 2020

Other times, if they are using the identity to apply for services, they take one set of data and manipulate it to create multiple slightly varied versions of the same identity to expand the number of accounts they can open. Convergence in these areas is imperative in controlling account takeover risk.

Compromise 52

Compromise Financial Crimes Breach Credential 52

FICO

JULY 28, 2021

In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. Without it, an ACH payment could be sent from a validated account by an unauthorized user, as is the case with UPP fraud and account takeover.

NACHA 52

NACHA ACH Scams Account Validation 52

The Fintech Times

MAY 22, 2024

The report found that card ID theft increased, with losses up 53 per cent to £79.1million, as many criminals reverted to stealing ID and falsely applying for new credit cards or account takeovers, were they not able to trick someone through APP.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

FICO

JANUARY 6, 2020

FICO’s ML capabilities play a role in protecting these digital interactions, which are especially susceptible to account takeover. The report noted that, “Real-time payments are rapidly gaining traction in the US, spurred partly by dramatic growth in the use of P2P services and mobile payments.

Posting 52

Posting AI Online and Mobile Banking Real Time Payments 52

PYMNTS

APRIL 22, 2016

By the end of last year, botnet-originated fraud in the digital goods space affected 6.2 percent of all transaction dollars, while all other forms of attack combined in the vertical only accounted for 1.6 However, just because botnets primarily stick to the low-hanging (i.e.,

Identity Theft 40

Identity Theft Account Takeovers EMV Bots 40

FICO

FEBRUARY 9, 2021

What is important in this case is that whilst financial data may not have been the target, the wider personal data set allows the fraudster to better perpetrate an account takeover, scam or ID theft. Fraudsters are also using more layered attacks. by Toby Carlin.

Scams 52

Scams Tax Scams Account Takeovers Breach 52

Seon

JUNE 24, 2024

Credit card fraud accounted for 34% of these statistics, indicating fraud’s pervasive and industry-agnostic nature. Cybercriminals often employ sophisticated tactics, such as synthetic identities, account takeovers (ATOs) and exploiting unsuspecting individuals through socially engineered schemes.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

PYMNTS

JANUARY 18, 2017

“One of the most basic controls that every business should adopt when it comes to payments … is the person who issues the payment should not be the person who originates the payment,” he said. Such divisions of labor can reduce the risk of online account takeovers quite handily. Surprises?

Account Takeovers 40

Account Takeovers Risk Mitigation Accounts Checks 40

Nanonets

MARCH 30, 2023

The payment process using ACH transfers involves the payee creating a payment order which is received by the originator bank. The originator bank compiles all the POs and sends them to an ACH for processing. One of the most common methods of automated payment systems is ACH transfers.

Automation 52

Automation Transactions Wire Transfer ACH 52

FICO

JUNE 4, 2018

Typical amounts of new payment originations. In an unauthorized push payment fraud scenario, when the fraudster makes the payment; transactions would likely be made from a device not typically used by the legitimate account holder, and the funds would likely go to a strange beneficiary account.

Demand Deposit Account (DDA) 40

Demand Deposit Account (DDA) Smishing Payer IRS 40

Seon

JUNE 29, 2023

Determine the origin, purpose, and nature of each suspicious transaction. Such accounts are especially likely to be subjected to account takeover (ATO) attacks, meaning while these customers pass the onboarding stage, the account activities themselves should not pass the KYT stage.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

Nanonets

MAY 31, 2023

Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. Common examples of external payment fraud include: Impersonation: Fraudsters pose as legitimate customers or vendors to deceive organizations into making unauthorized payments.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

AUGUST 12, 2016

Too bad, said Apple, who yesterday fired back with an assertion that providing access to the NFC antenna would “fundamentally diminish the high level of security that Apple maintains on its devices,” turning a blind eye just for the moment to the account takeover issues that have plagued Apple since launch.

Rules 40

Rules Fincen Online and Mobile Banking Cross-Border 40

FICO

MAY 17, 2019

Next followed a surge in account takeover and identity theft as data breaches make personally identifying information a commodity on the Dark Web. As the years passed by, fraud evolved to target lower hanging fruit (as it always does). Fight identity fraud across the customer lifecycle.

FBI 75

FBI Credit Risk Identity Theft Law Enforcement 75