Fintech News

FEBRUARY 4, 2025

Unlike its regional counterparts, where fraud types like triangulation fraud and account takeover fraud are more common, Singapore has seen a rise in more sophisticated and creative forms of fraud. Percentage of security concerns pointed out by the consumers. Photo taken from Adyen Index: Retail Report 2024.

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Fraud Prevention Phishing Authentication Disputes 96

PYMNTS

OCTOBER 13, 2020

AI-powered digital solutions provider Jumio recently unveiled a platform solution intended to help eTailers with such security work. The offering supports merchants’ onboarding and verifying new users as well as securing their accounts. Zulily On Fighting Fraud And Cart Abandonment With Digital ID Verification.

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Account Takeovers Accounts Federal Trade Commission Verification 69

PYMNTS

APRIL 13, 2020

For all that has changed dramatically in the last several weeks due to the coronavirus pandemic, consumers are still looking for the same two core offerings in every transaction, no matter what it is or where it takes place: seamlessness and security. An awful lot of other things have changed all around that core, however.

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Security Account Takeovers Caps Accounts 129

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. What Do Fraudsters Do with Accounts They Have Taken Over?

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Seon

JANUARY 29, 2024

In this guide, we’ll see why accounts are targeted, how fraudsters acquire them, and, of course, which steps you should take to secure them. This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud?

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Account Takeovers Accounts Fraud Prevention Fraud Detection 52

Payments Source

AUGUST 1, 2019

Most cloud storage systems have gaps that open the door to account takeover, API attacks and other threats, argues Pravin Kothari, founder and CEO of CipherCloud.

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Account Takeovers Breach Security API 104

Fraud.net

DECEMBER 1, 2023

Modern account takeover protection requires implementing machine learning, geolocation, and anomaly detection to spot and prevent ATO fraud.

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Account Takeovers Best Practices Accounts Fraud Detection 52

PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth.

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Account Takeovers Accounts Fraud Prevention Credit Cards 47

PYMNTS

OCTOBER 23, 2017

The Security Love Triangle. Security, Ersell said, is an old business, and it’s still ruled by the same love triangle of warring priorities: security, convenience and resources. saving money) over security. They’re using weak passwords – oftentimes, the same weak password for all of their online accounts.

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Account Takeovers Accounts Cybersecurity Bots 53

PYMNTS

MARCH 17, 2020

With a new solution announced Tuesday (March 17), identity trust and digital fraud protection firm Kount seeks to help people avoid the pitfalls and annoyances of account takeover fraud.

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Account Takeovers Accounts Bots Credential 52

Payments Source

APRIL 17, 2018

ATMs require dual-factor authentication in the form of a physical card and a PIN, and this same concept should be extended to phone transactions, writes Patrick Cox, CEO of TRUSTID.

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Account Takeovers ATM Accounts Security 67

Fintech Finance

DECEMBER 9, 2024

Antom continues to launch tech-driven innovative solutions to provide more secure and efficient services at lower cost to its customers. Antoms card processing volume grew over 10 times from that of previous year, while delivering top notch authorization rates to its global enterprise merchants.

Embedded Finance 98

Embedded Finance Cross-Border AI Cross-Border Settlement 98

Fintech Finance

FEBRUARY 4, 2025

Over this period, Ravelin has established itself as a market leader in identifying payment fraud, account takeover, return & refund abuse, promotion & voucher abuse and marketplace fraud, and performing 3D Secure authentication.

Fraud Prevention 69

Fraud Prevention AI Acquirers Account Takeovers 69

Payments Source

APRIL 4, 2018

The one thing more valuable to consumers than their bank accounts might be their internet access — and a new version of the ‘Trickbot’ trojan targets both.

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Account Takeovers Accounts Consumer Security 83

Payments Source

DECEMBER 20, 2016

The scourge of account takeover isn't lost on Citizens Union Bank, which is involving its business customers — or rather, their biometric traits — in improving the security of their accounts.

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Account Takeovers Security Accounts End User 73

The Fintech Times

FEBRUARY 21, 2024

While 73 per cent of consumers said fraud protection was a top three concern when opening a new account, 34 per cent ranked it as a top priority. Biometrics were a top choice for security measures with 68 per cent preferring to use fingerprints. Identity theft to open a new account is the top-ranked concern at 30 per cent.

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Consumer Security Identity Theft Account Takeovers 122

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. Users must input these codes before they can access their accounts. ATOs are arguably the most nefarious type of fraud.

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PYMNTS

AUGUST 5, 2020

Tim Horton , head of global merchant security and fraud solutions at Fiserv , told a recent PYMNTS Masterclass that online purchases have more than doubled year on year in the general retail segment, while online grocery sales have surged by 250 percent. Consumers Demand Fraud Protection . “We

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Security Account Takeovers Laws Consumer 106

The Paypers

JUNE 7, 2024

Cybersecurity startup SpyCloud has secured USD 35 million in a funding round aimed at improving its account takeover prevention capabilities.

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Account Takeovers Accounts Cybersecurity Security 36

Fintech News

SEPTEMBER 22, 2024

Digital fraud attacks patterns, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions Third-party account takeover as the top fraud type Third-party account takeover was the most common type of fraud in 2023, accounting for 28.7% of all cases.

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Accounts Scams Bots Account Takeovers 142

PYMNTS

MAY 8, 2020

Building that experience properly, he noted, means allowing consumers to create accounts with stored credentials and data — because to build a competitive digital service means building one that works smoothly, not one that consumers have to continually relog into.

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Security Account Takeovers Credential Compromise 97

The Fintech Times

MARCH 30, 2025

Others in the class offer AI- and machine learning-enhanced technology modernisation strategies, along with risk, compliance, and security solutions. IronVest (New York) a cross-channel fraud prevention platform that fuses user identity with intent to eliminate account takeovers, scams, first-party fraud, and onboarding threats.

Innovation 80

Innovation FinTech AI Underwriting 80

Finovate

FEBRUARY 10, 2025

Feedzai’s Digital Trust is effective against account takeover (ATO) attacks as well as new account fraud attempts during onboarding. It combines behavioral biometrics, behavioral analytics, advanced malware detection, and network and device assessment to provide active and preemptive defense against threats.

Financial Crimes 64

Financial Crimes Crime Fraud Prevention Account Takeovers 64

PYMNTS

OCTOBER 26, 2016

While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. to provide additional layers of security. Going Beyond PCI.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

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 Account Takeover (ATO) and promotion abuse are common fraud tactics affecting APAC fintechs. million in 2021.

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APACS Data Breach FinTech Fraud Prevention 114

PYMNTS

OCTOBER 29, 2018

These initiatives could also lead to an increase in security risks, since sharing data among a range of financial service providers creates new opportunities for it to fall into the wrong hands. Banks, FinTech firms and other financial services firms would be wise to invest more time, effort and resources into open banking security systems.

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Security Payment APIs and Integration API Authentication 76

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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Fed Secure Payments Task Force Security Federal Reserve 77

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. Small businesses, in particular, are vulnerable as they may lack the advanced security infrastructure of larger corporations.

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Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

DECEMBER 18, 2020

As PYMNTS' latest Digital Fraud Tracker recently reported , shipping fraud grew 391 percent between 2018 and 2019, while account takeovers spiked by 347 percent over the same timeframe. Digital fraud is a longstanding issue for retailers and banks. The pandemic has only made these issues worse.

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Account Takeovers Blocks Fraud Prevention Rules 133

PYMNTS

AUGUST 27, 2020

Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points.

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Accounts Account Takeovers Data Breach Breach 115

Payments Source

AUGUST 22, 2018

Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand.

Account Takeovers 92

Account Takeovers Mobile Payments Zelle Phishing 92

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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Account Takeovers Fraud Prevention Push-to-Card Accounts 94

Fintech Finance

MARCH 3, 2025

Antom , a leading unified merchant payment services provider under Ant International, has received Service Organization Control (SOC) 2 Type II certification, a globally recognised benchmark for data security and privacy protection. Built-in fraud protection prevents e-wallet account takeover risks.

Fraud Prevention 52

Fraud Prevention Fraud Detection AI Risk Management 52

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. This represents a fivefold increase from the pre-pandemic normal, when most consumers shopping online were better attuned to security protocol.

Fraud Prevention 102

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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Fraud Prevention Account Takeovers Authentication Identity Theft 104

Fintech News

JULY 22, 2024

To ensure user security, YouTrip has implemented safeguards such as top-up limits and restrictions on withdrawals to the registered PayNow account. These measures aim to prevent fraudulent transfers in the event of account takeover attempts.

Accounts 111

Accounts Multi-Currency Account Takeovers On-Demand 111

PYMNTS

FEBRUARY 24, 2020

Account takeovers, brute force attacks and credential stuffing are some of the most popular methods, with rewards and loyalty programs being especially tempting targets for their stored payment data and personally identifiable information. Chang’s found that these struggles were ultimately worth it.

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Account Takeovers Credential AI Fraud Prevention 85