PYMNTS

JANUARY 28, 2021

PYMNTS recently reported Federal Trade Commission (FTC) figures finding, “More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020.” Brown also pointed out the growing use cases for biometrics, calling facial and fingerprint recognition a good start.

Federal Trade Commission 97

Federal Trade Commission Scams Account Takeovers Fincen 97

The Fintech Times

DECEMBER 18, 2023

“But with the popularity of generative AI (shout out to ChatGPT and FraudGPT), fraudsters can now make their social engineering scams even more convincing at an unheard of scale. A few years ago, this would be a homerun for consumers and a major deterrent for fraudsters,” says Abrahams.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

SEPTEMBER 17, 2020

Sharing economy businesses looking to keep their guests safe must deter data breaches that continually threaten organizations and can allow cybercriminals to steal usernames and passwords to access accounts. Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second.

Verification 89

Verification Authentication Economy Data Breach 89

PYMNTS

FEBRUARY 26, 2020

These merchants have always been vulnerable to in-person fraud, including coupon or promotion scams, but digital channels create new avenues that bad actors can exploit. Many QSRs and third-party ordering apps are thus already using these tools to enhance their fraud detection procedures. AI in Action.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

Seon

MAY 8, 2024

The rise of generative AI is a double-edged sword, yielding significant productivity benefits while empowering fraudsters to craft more intricate and convincing scams at unprecedented volumes and velocities. This feature is invaluable in detecting phishing scams, especially in the financial service industry.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

PYMNTS

NOVEMBER 6, 2019

And fraudsters keep moving on to different scams, seeing what works as digital and mobile commerce continues to progress and consumer habits shift. Download the latest edition of the @pymnts Digital Fraud Tracker today, to learn how @offerup is using #machinelearning to keep their #ecommerce marketplace secure and the fraudsters away: [link].

Romance Scams 41

Romance Scams Account Takeovers Federal Trade Commission Fraud Prevention 41

Seon

JUNE 15, 2023

The report states that these victims mostly lost their money to BEC scams. 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. Reported losses in 2020 exceeded $4.2 What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52