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. This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. But, what exactly are those threats?

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Account Takeovers Fraud Detection Phishing Fraud Prevention 94

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. DBS isn’t the only bank making news for phishing scams. US$129,841).

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Scams Phishing Deepfake Verification 107

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. Scammers who gain access to accounts message other players, offering them links to free character skins or in-game currency.

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Fintech News

MAY 27, 2024

As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 In addition to data breaches, generative AI tools pose a distinct challenge to APAC fintechs, empowering fraudsters to craft sophisticated phishing lures and synthetic identities. million in 2021.

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APACS Data Breach FinTech Fraud Prevention 114

PYMNTS

DECEMBER 17, 2020

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. Other fraudsters are deploying phishing schemes to net their ill-gotten gains, either using the stolen data themselves or selling it online.

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Fraud Prevention Account Takeovers Phishing Push-to-Card 102

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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The Fintech Times

DECEMBER 18, 2023

“A lot of consumer technology ( Apple Pay , for example) is prioritising highly secure and personalised experiences, relying on biometrics and specific device features. So, while consumer tech may be getting more secure, fraudsters are also getting more cunning. Take company-wide training to identify phishing attacks for example.

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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. Winning The New War With Account Takeover. The goal of security at base is to make it hard and friction-filled for cybercriminals to ply their trade.

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PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

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Fi911

JANUARY 18, 2024

Financial institutions employ various security measures to combat them. They can then open new accounts, apply for loans, or make unauthorized purchases in that person’s name, leaving the victim to deal with the financial and emotional consequences. New Account Fraud A new account is opened using fake or stolen credentials.

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PYMNTS

JULY 24, 2018

Google has claimed a success in its fight against employee phishing scams , telling reporters that none of its more than 85,000 employees have fallen victim to such a scam since the company deployed its Security Keys program. “Users might be asked to authenticate using their Security Key for many different apps/reasons.

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PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024.

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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.

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The Fintech Times

DECEMBER 18, 2023

As a result of AI and other emerging technologies, the need for accurate and secure authentication is at an all-time high. Continuous authentication enhances security by making it challenging for unauthorised users to replicate legitimate user behaviour. The shift will unlock a more secure online future for us all.”

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PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. PYMNTS’ latest Digital Fraud Tracker® , done in collaboration with Simility , is a study in the forces impacting fraud and security in a year when cyberthieves have been having a field day.

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The Payments Association

NOVEMBER 20, 2024

Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft. Account takeover fraud How it works: Fraudsters can use phishing emails, false promises, and other social engineering attacks to steal a cardholder’s personal information and gain unauthorised access to their account.

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AI Fraud Detection Identity Theft Account Takeovers 88

PYMNTS

MARCH 18, 2020

High-tech schemes like credential stuffing and account takeover (ATOs) have become commonplace, but many fraudsters still rely on a technique that requires comparatively little technical know-how. Other fraudsters may go directly after restaurant employees with phishing schemes, a popular method for gaining access to data.

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Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

MARCH 20, 2020

Phishing attempts surged 640 percent last year alone, with hackers placing malicious URLs on domains such as Apple, Dropbox, Facebook, Google, Microsoft and PayPal, according to a recent report. The Latest Fraud Decisioning Developments. Fraudsters appear to be finding success in new versions of the age-old heists.

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PYMNTS

NOVEMBER 17, 2020

Fraudsters utilizing these schemes rely on tactics such as phishing and impersonation scams to trick customers and businesses into sending payments or payment details, and their use of real-time rails can enable them to make off with the funds before customers catch on.

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PYMNTS

JULY 1, 2019

Account Takeovers Plague the QSR Industry. Cybercriminals can obtain stolen identities for as little as $4, meaning it’s easier than ever for them to launch account takeover (ATO) attacks. Such details can also be acquired via phishing schemes. CNP schemes hurt businesses as much as they hurt consumers.

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Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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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PYMNTS

AUGUST 18, 2017

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. There’s never ‘too much’ security,” Grant said.

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The Fintech Times

NOVEMBER 20, 2024

Generative AI (GenAI) is being used to create sophisticated digital forgery and injection attacks through well known methods like phishing, fraud and ransomware. To stay ahead, security teams must proactively adapt their strategies, prioritize monitoring these emerging threats, and prepare their organisations to face this new reality.

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PYMNTS

AUGUST 7, 2020

Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April. The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud.

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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). Consumers are more likely to fall victim to fraudulent schemes when they assume there are stricter security measures protecting their P2P app transactions than there are in truth.

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PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise. Next-Level Payments Security.

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Scams Automation Phishing Email Compromise 63

Braintree

AUGUST 26, 2019

As part of our ongoing mission to keep your data secure, Braintree is pleased to announce that we now support hardware two-factor authentication (H2FA) in the Control Panel, providing a new way for merchants to help keep their accounts secure. When a user activates H2FA, the specific key used is linked to their user account.

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PYMNTS

MAY 5, 2020

On the “back end” of the business, Elan leverages state-of-the-art fraud detection tools to identify and prevent transactional fraud, account takeover and fraudulent applications. Pangretic cautioned that there will continue to be a rising tide of email scams (phishing) and synthetic fraud.

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The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

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Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases.

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Neopay

FEBRUARY 27, 2025

This alarming statistic, highlighted in a recent report, The Battle Against AI-Driven Identity Fraud , underscores the evolving sophistication of cybercriminal tactics and the urgent need for enhanced security measures across industries. Traditional fraud detection methods are no longer sufficient.

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PYMNTS

JUNE 11, 2019

One of the most insidious forms of fraud is account takeovers (ATOs). Corporations must work to retain their trust, lest they lose customers to more secure competitors. Corporations must work to retain their trust, lest they lose customers to more secure competitors. Developments from around the Digital Fraud World.

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AI Account Takeovers Online and Mobile Banking Authentication 60

PYMNTS

FEBRUARY 10, 2017

With today’s ability to hit thousands or even millions of users in a few hours through a phishing attack that infects laptops and smartphones, fraudsters could potentially grab a very large amount of credit card information typed in by users during their next online purchase,” Cagnoni explained. Identity Fraud On The Rise.

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PYMNTS

MAY 16, 2019

According to a report in Reuters , the Eastern European GozNym network, whose leader resides in Tbilisi, Georgia, sent phishing emails to install malware on more than 41,000 computers. Members of the group located in Bulgaria and Ukraine then took control of victims’ online bank accounts and stole money out of their accounts.

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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.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

FEBRUARY 14, 2020

The fraud prevention race is the same as it has always been, with merchants and security companies sprinting to stay ahead of cybercriminals to keep data safe and secure. Although fraud losses from banks, retailers and online platforms have continued into 2020, so has security innovation. This would have led to $2.1

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Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

PYMNTS

APRIL 15, 2020

Now, the full-scale relocation of all banking activity to digital channels creates the dual challenge of providing accessible, enjoyable user experiences that are also secure. “We Older users are less familiar with banking online, so they are being increasingly targeted in account takeover attacks.

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Online and Mobile Banking Scams Bots Risk Management 80