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.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

OCTOBER 13, 2017

The Equifax data breach — impacting sensitive and valuable information ranging from Social Security numbers to birth dates and home addresses — affected more than 150 million people and counting, and it’s become clear that the “one-size-fits-all” approach is no longer effective.

Data Security 41

Data Security Account Takeovers Security Cybersecurity 41

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. And for the customers, there’s the rabbit hole of trying to prove that the bad guys co-opted their names, social security numbers and other data.

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

PYMNTS

DECEMBER 9, 2020

The passwords, user names and Social Security numbers that once helped us prove we are who we say we are now are vulnerable or have already been compromised. At the same time, banks and other firms must find new ways to verify and authenticate users and gird against theft and account takeovers.

Privacy 93

Privacy Regulations Verification Account Takeovers 93

FICO

OCTOBER 30, 2017

Due to the surge in data breaches, Social Security numbers, mailing addresses, passwords, health history, even the name of our first pet is all for sale on the Dark Web. Where is the rise in identity-based fraud coming from?

Identity Theft 72

Identity Theft Account Takeovers Best Practices Data Breach 72

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. One hacker even posed as a company’s HR department and made off with more than 20,000 company records. .

Phishing 70

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

PYMNTS

DECEMBER 21, 2018

Fraudsters can commit account takeover fraud, where they call into a call center, verify themselves and then change the account information to suit their needs. Or they can use that data to create a synthetic identity and obtain entirely new accounts to use. And there is more than one way for that information to be used.

EMV 74

EMV Push-to-Card Fraud Prevention Rules 74

PYMNTS

APRIL 23, 2019

Money laundering, account takeovers and other illicit activities threaten to turn away legitimate consumers, as well as the government agencies that provide gaming licenses. . The company can often verify users’ names, ages and the last four digits of their Social Security numbers before requiring them to provide additional details.

Money Laundering 43

Money Laundering SWIFT Security Account Takeovers 43

PYMNTS

APRIL 22, 2020

Identity verification is one of the longest parts of the onboarding process because customers must provide numerous details, such as their addresses, bank statements or Social Security numbers, and wait for FIs to validate their details and approve their applications.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

Innovative Payments Association

JUNE 26, 2024

Just a few days ago I learned that my mother was the victim of bank account fraud. Be Aware of the Different Types of Scams Phishing Scams: Seniors may receive emails or phone calls pretending to be from their bank, asking for sensitive information like passwords or social security numbers.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

FICO

OCTOBER 7, 2022

Account takeover (ATO) fraud is also using BNPL as an easy gateway. It occurs when a criminal gets ahold of a BNPL user’s login, either by duping them into revealing it (social engineering) or by buying it on the dark web. What Is Account Takeover Fraud? If that’s the case, they know who to call: FICO.

BNPL 52

BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52

PYMNTS

OCTOBER 11, 2017

Byrnes said there are three primary types of fraud: stolen credit cards, account takeover and friendly fraud. Account takeover certainly isn’t new , but it is on the rise. “The key to any effective eCommerce defense system is a layered defense.”. Byrnes walked PYMNTS through the latest threats and defenses.

Crime 44

Crime Account Takeovers eWallet Online and Mobile Banking 44

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. It was never meant to be shorthand for, well, you – proving that you are who you say you are, serving as a gateway to all manner of sensitive data and, of course, financial accounts.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

JANUARY 9, 2019

The large number of data breaches that occurred in 2018 gave fraudsters access to a vast library of stolen information, from email addresses to Social Security numbers. Undoubtedly, Siddiqui added, account takeovers have emerged as the biggest threat for luxury retailers, especially during the holiday season. “We

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

PYMNTS

JUNE 5, 2020

Customer behaviors must be analyzed to detect such problems, which often involves applying machine learning-enhanced tools to evaluate collected customer data for signs that might indicate account takeovers or shifts into illicit activity, Davies said. How To Quickly Fight KYC Fraud.

Money Laundering 69

Money Laundering Security Payment APIs and Integration FinTech 69

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

SEPTEMBER 28, 2017

The fact remains that the very data that is readily available across all conduits of transactions – from phone numbers to Social Security numbers – are there for the taking, across all manner of firms, and can be used as building blocks to create sophisticated ways to defraud the innocent. The former has been around for a long time.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

PYMNTS

DECEMBER 1, 2017

The ride-sharing company said that no Social Security numbers, credit card information, trip location details or other data were taken. eCommerce fraud and account takeover fraud are on the rise, and consumers should gird for some lumps of coal amid the holiday cheer. drivers’ license numbers.

Breach 57

Breach Data Breach Office of the Comptroller of the Currency Federal Trade Commission 57

FICO

APRIL 8, 2020

For example, this process looks to establish there is a person such as Jane Smith and that she has the corresponding attributes such as date of birth and/or social security number. To prevent fraud and money laundering, activities must be secured with identity checks, including: When an account is accessed.

Accounts 52

Accounts Enrollments Authentication Verification 52

PYMNTS

NOVEMBER 11, 2019

consumers had their PII compromised in 2018 alone, and half of all consumers can find their birthdates, passwords, credit card details or even their Social Security numbers floating on the dark web. This means fraudsters have plenty of resources available as they attempt to access accounts and steal money. .

AI 46

AI Compromise Breach Assessments 46

PYMNTS

JULY 30, 2020

Traditional fraud-fighting approaches often fail against scammers who use synthetic IDs to trick financial institutions (FIs) into letting them open new accounts.

Law Enforcement 56

Law Enforcement Credit Union Account Takeovers Federal Reserve 56

PYMNTS

FEBRUARY 19, 2018

In other words, real (stolen) data (bank accounts) found its way into the bad guys’ hands via real (stolen) data. Account takeover at its not so finest. The banks from which the account numbers had been taken, and the bank where fraudulent accounts were opened, were not named.

Identity Theft 48

Identity Theft Risk Online and Mobile Banking PayPal 48