PYMNTS

DECEMBER 27, 2016

Account takeovers, even of high-profile people, has become a common occurrence in this era of sophisticated cyberattacks and hacks, but researchers think they’ve found a way to fight back against account takeovers : cryptographically based security keys.

Account Takeovers 46

Account Takeovers Security Accounts Authentication 46

PYMNTS

SEPTEMBER 16, 2020

Sharing economy providers are investing in digital identity verification offerings to keep their users safe. consumers who are more likely to engage a business’ services if it offers improved identity verification. 31%: Increase in account takeovers year over year. 77%: Share of U.S.

Verification 56

Verification Account Takeovers Innovation Economy 56

PYMNTS

JUNE 19, 2020

ID verification firm Payfone has completed a $100 million funding round which the company says it will use for strengthening machine learning and building a new consortium to help secure digital transactions, the press release says. The round was led by funds advised by Apax Digital , the growth equity team of Apax Partners.

Verification 60

Verification Account Takeovers Authentication CHIPS 60

The Payments Association

JANUARY 17, 2025

Authorized fraud – where a user is tricked into performing an identity verification session – is orders of magnitude more prevalent for banks, crypto platforms, payments providers, and other fintech platforms, coming in at more than double the global average.

Account Takeovers 88

Account Takeovers Verification Payments Accounts 88

Fi911

DECEMBER 3, 2024

The Importance — & Limitations — of Velocity Checks These velocity checks are highly adaptable and can be effortlessly integrated with existing systems, making them a valuable asset in identifying threats such as account takeover fraud, chargeback fraud, and synthetic fraud.

Checks 52

Checks Fraud Prevention Account Takeovers Fraud Detection 52

PYMNTS

SEPTEMBER 18, 2020

PYMNTS’ September Digital Identity Tracker® done in collaboration with Jumio delves into the latest in digital identity verification, especially as it pertains to the recovering sharing economy. Given that “Almost two-thirds of U.S.

Verification 62

Verification Economy Authentication Account Takeovers 62

Fintech News

MARCH 20, 2024

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks.

APACS 107

APACS Fraud Prevention Deepfake Account Takeovers 107

The Fintech Times

JUNE 2, 2024

The digital identity firm revealed that account takeover attacks are the most popular type of fraud, often taking advantage of weak or reused passwords. Deepfakes, often used to impersonate the holder of an account rather than creating a new or synthetic identity, are far more popular, accounting for one in 15 fraud attempts.

AI 126

AI Fraud Prevention Account Takeovers Deepfake 126

Fintech News

MAY 27, 2024

This burgeoning fraud type poses significant challenges to fintech firms’ identity verification processes in APAC. Account Takeover (ATO) and promotion abuse are common fraud tactics affecting APAC fintechs.

APACS 114

APACS Data Breach FinTech Fraud Prevention 114

PYMNTS

JULY 2, 2020

Account takeover fraud, phishing scams and friendly fraud have all seen upticks of late. With Kount’s system, the merchant then decides what to do with those scores — reject a transaction entirely or just require additional verification steps. Sevounts said Kount has also recently noticed an uptick in “card-testing fraud.”

Transactions 112

Transactions Push-to-Card Account Takeovers Fraud Prevention 112

Fintech News

JUNE 6, 2024

The Jumio 2024 Online Identity Survey reveals that 85% of Singaporean consumers are willing to spend more time on identity verification measures when accessing financial services accounts to improve security. The benefits of digital identity verification extend beyond just enhanced security.

Scams 107

Scams Phishing Deepfake Verification 107

Fi911

JANUARY 18, 2024

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. If a transaction seems out of the ordinary for a particular customer, the bank can flag it for further investigation or verification.

Account Takeovers 96

Account Takeovers MFA Fraud Detection Credit Cards 96

PYMNTS

SEPTEMBER 24, 2020

In a Masterclass interview with PYMNTS, Tom Donlea , vice president and general manager, APAC at global identity verification provider Ekata , said Asia offers greenfield opportunities — and some areas of risk — for merchants looking to offer digital wallets.

APACS 98

APACS Risk Online and Mobile Banking Verification 98

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

M2P Fintech

MARCH 24, 2025

Back in the day, loan management system s were synonymous with pile s of paperwork involving intricate manual calculations and lengthy verifications, leading to slow approvals. Identity Verification: Provides a secure digital identity, simplifying verification and enhancing regulatory compliance.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

FICO

FEBRUARY 16, 2022

Most respondents in the US reported that they are most worried about card fraud, having their stolen identity used to open an account, and Account Takeover (ATO) fraud. consumers are slower to adopt new ways for payment verification that consumers in other markets and shows us that a portion of U.S.

Verification 52

Verification Consumer Scams Fraud Detection 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.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

Finextra

MARCH 20, 2024

Sumsub, a leading global full-cycle verification platform, commits to tackling the alarming surge of fraud networks in Asia-Pacific (APAC) by launching its upgraded Fraud Prevention Solution.

Fraud Prevention 52

Fraud Prevention Account Takeovers APACS Bots 52

PYMNTS

SEPTEMBER 24, 2020

Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish. The onboarding system is supplemented by an AI platform that looks for signs of account takeovers, like mismatched location data or unusual transactions.

Account Takeovers 82

Account Takeovers Database Authentication Crime 82

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk 65

Risk Acquirers Fraud Prevention Identity Theft 65

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. When you think about it, it’s the high-tech version of social engineering. Deep fake threats John Baird, co-founder and CEO of Vouched.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

The Paypers

JULY 22, 2024

Estonia-based identity verification provider Veriff has augmented its Biometric Authentication solution to prevent account takeover fraud.

Authentication 41

Authentication Account Takeovers Verification Accounts 41

PYMNTS

DECEMBER 9, 2020

At the same time, banks and other firms must find new ways to verify and authenticate users and gird against theft and account takeovers. Part of the balancing act can be streamlined through the use of advanced technologies such as biometrics at the point of onboarding in order to satisfy verification and authentication requirements.

Privacy 93

Privacy Regulations Verification Account Takeovers 93

Neopay

FEBRUARY 27, 2025

The study, which surveyed over 1,200 financial and payment sector professionals across seven European countries, found that account takeover remains the leading type of fraud affecting customers, followed by card payment fraud and phishing. Traditional fraud detection methods are no longer sufficient.

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

The Payments Association

DECEMBER 11, 2024

Among the top threats are account takeover (ATO), chargeback fraud and more complex schemes like money laundering, which use sophisticated methods to disguise illegal financial flows.

Fraud Prevention 88

Fraud Prevention Risk Assessment Payments Account Takeovers 88

Finovate

AUGUST 14, 2024

Digital identity verification innovator Socure has unveiled its Selfie Reverification solution. Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential.

Credential 65

Credential FinTech Deepfake Fraud Detection 65

PYMNTS

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. What’s more, Fiserv said that account takeover losses in the U.S. They use a five-digit code via text or email that is valid only during the call.

Consumer Authentication 40

Consumer Authentication Authentication Account Takeovers Consumer 40

The Fintech Times

FEBRUARY 26, 2024

Enter IAM platform convergence Many financial institutions still rely on home-grown and/or legacy Identity and Access Management (IAM) solutions to meet their authentication, identity verification and authorisation needs. Customer experience : They excel at streamlined, connected journeys, leaving clunky interfaces in the dust.

API 114

API Authentication Account Takeovers On-Demand 114

PYMNTS

JUNE 25, 2018

Cybercriminals have a new favorite weapon in their quest to allude regulators, law enforcement and corporate security departments: account takeovers. Recent research reveals account takeovers have risen by 300 percent over the past year, with losses topping $5 billion. The Rise Of Account Takeovers.

Account Takeovers 46

Account Takeovers Breach Compromise Payments 46

The Fintech Times

MAY 17, 2024

New data from Jumio , the automated, AI-driven identity verification and compliance solutions provider, comes from its new 2024 Online Identity Study , the third instalment of its annual global consumer research. To counter the rise in deepfakes and cyber deception, incorporating multimodal, biometric-based verification systems is imperative.

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

PYMNTS

JULY 9, 2019

In an new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , provided an overview of the global state of ID verification and authentication, along with access management — and how improving those processes and technology can lead to gains for merchants and financial institutions.

Authentication 76

Authentication Verification Account Takeovers Consumer 76

PYMNTS

JULY 17, 2020

Identity verification and authentication solutions help financial institutions (FIs) block out fraudsters, but leveraging just one or two of these offerings may not be enough. Some FIs are therefore using digital identity networks that help them access and draw insights from a wide variety of verification tools. About The Tracker.

AML 64

AML Money Laundering Authentication Scams 64

PYMNTS

SEPTEMBER 25, 2019

And it may be the case that in the tradeoff between convenience and security, companies would do well to start looking harder into whether identity verification efforts need to be stepped up a bit, even if that means injecting friction into the equation. As Ritter noted, email accounts are the first avenues of attack for fraudsters.

Economy 75

Economy Verification Online and Mobile Banking Security 75

PYMNTS

APRIL 12, 2017

Fueled by account takeovers facilitated by major data breaches, reports suggest that one out of every 86 CNP transactions today is deemed fraudulent, said Greg Bonin, COO of data-as-a-service company XOR Data Exchange. In simple terms, XOR gathers data on the information compromised in major breaches, Bonin said.

Account Takeovers 46

Account Takeovers Breach Risk Assessment Assessments 46

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. Credit card partners can review transactions across pre-set criteria, review new account applications and facilitate card alerts.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

AUGUST 7, 2020

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. These methods could be especially useful for online age-verification processes, as biometric measures are highly accurate and difficult to fake. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

MARCH 20, 2020

Many online firms are embracing the concept of well-placed frictions in authentication processes to foil such attempts, adding just enough verification to keep bad actors from success without alienating legitimate users in the process.

Fraud Prevention 90

Fraud Prevention Account Takeovers Phishing AI 90