The Fintech Times

DECEMBER 18, 2023

“A similarly damaging trend is account takeovers (ATOs) where a bad actor gains access and takes over an online account using stolen or hacked credentials. Take company-wide training to identify phishing attacks for example. When you think about it, it’s the high-tech version of social engineering.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

The Payments Association

NOVEMBER 20, 2024

Finally, AI tools also have applications in identity verification. Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft. which blends multi-factor authentication measures with AI risk analysis, can help merchants mitigate the effects of account takeover fraud.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

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. ” Struggles with onboarding Digital identity verification is a vital part of the onboarding process. per cent of attacks globally).

Deepfake 69

Deepfake Phishing Account Takeovers AI 69

PYMNTS

AUGUST 7, 2020

The research also noted a 40 percent increase compared to February in the number of blocked attempts to guide users to phishing websites for one of the most-visited gaming platforms. . 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.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

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.

Fraud Prevention 90

Fraud Prevention Account Takeovers AI Phishing 90

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. Interacting With The Cardmember.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

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.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards Fraud Detection 56

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. In 2023, 83% of financial institutions reported an increase in phishing attacks.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

FEBRUARY 14, 2020

Phishing is another favored tactic for cybercriminals, who continued to make use of this tried-and-true method in 2019 with the illegal use of some of the most popular eCommerce logos to draw in unsuspecting consumers. The report looked at data from 31 mobile payment operators across 20 countries and found that fraudsters attempted to make 1.6

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

The Fintech Times

AUGUST 13, 2024

Latin America also saw a staggering 617 per cent increase in phishing attacks in 2023, with cyber criminals using AI to craft more realistic and targeted phishing emails. Brazil and Mexico were the most affected, recording millions of phishing attempts aimed at stealing financial data and credentials.

AI 59

AI Fraud Detection Fraud Prevention Deepfake 59

PYMNTS

SEPTEMBER 6, 2019

The healthcare industry is also busy fending off fraudsters in its contact centers, especially as seniors face an increase in phishing attempts and robocalls. Implementing biometric verification in tandem with other tools could help call centers looking to move away from KBA.

MFA 49

MFA Authentication Phishing Verification 49

PYMNTS

MAY 24, 2017

According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam. They will come in, do a fake phishing scam, a fake malware download, a fake password request and see how many people follow through with it.

Authentication 40

Authentication Credential Ransomware Phishing 40

Nanonets

MAY 31, 2023

Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

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. The Ineffectiveness of Card Verification in the Digital Age. Such details can also be acquired via phishing schemes.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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

Seon

MAY 8, 2024

Multi-Accounting Detection Through meticulous tracking of device and browser IDs associated with each user account, device intelligence facilitates the detection of multiple users accessing your platform from the same device, enabling proactive measures to preserve the integrity of your user base.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52