Seon

JANUARY 29, 2024

Having trouble protecting your user accounts? 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

Fintech News

SEPTEMBER 17, 2024

SFV will be used in high-risk scenarios to complement existing authentication methods during DT setup. It will verify a customer’s identity against national records using a face scan before activating their DT, making it significantly harder for scammers to hijack accounts using stolen credentials.

Verification 108

Verification Scams Financial Crimes Phishing 108

PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. dollars between all of their accounts.”. customers to activate their FDIC-insured BlockCard bank accounts.

Accounts 106

Accounts Cryptocurrency FDIC Interoperability 106

VISTA InfoSec

JUNE 27, 2024

The breach, linked to a hack of the district’s Snowflake account, has exposed sensitive data pertaining to students and employees enrolled in the sprawling district. The incident came to light on June 6, when LAUSD officials became aware of an account from Sp1d3r purporting to offer certain student and employee data for sale.

FBI 130

FBI Breach MFA Cybersecurity 130

Braintree

AUGUST 26, 2019

Braintree has supported SMS and authenticator app two-factor authentication in the Control Panel since 2015. Two-factor authentication is a crucial tool for helping protect merchants from unauthorized account access, typically by requiring a time-sensitive code during sign in.

Authentication 52

Authentication Phishing Account Takeovers Breach 52

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

The Fintech Times

JUNE 8, 2024

Payments giant Mastercard has integrated Deposit Switch and Bill Pay Switch into its open banking platform, in a move that enables consumers to automatically switch their direct deposits and update their recurring bill payments, when opening a digital account or when updating information on an existing account.

Visa 69

Visa Payroll Direct Deposit Credential 69

PYMNTS

OCTOBER 23, 2018

The world might be growing smaller and more connected, but regulations and authentication methods can create issues for international businesses looking to expand globally. In the latest Digital Identity Tracker , PYMNTS takes a look at digital identity credential developments around the world. to the U.K. Around The Digital ID World.

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Authentication Rules Credential Governance 53

Finovate

OCTOBER 8, 2024

allowing consumers to securely pay bills directly from their bank account without manually entering their account details. The new tool, which is powered by Plaid’s network, provides businesses with a lower cost, more secure option for consumers to pay bills directly from their bank account with less friction.

Non-Bank 59

Non-Bank Risk Assessment Processors Returns 59

PYMNTS

NOVEMBER 24, 2020

Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. California-based automaker Tesla is one company that has witnessed the merits of offering 2FA for its car owners.

Authentication 108

Authentication Consumer Online and Mobile Banking Verification 108

Payment Savvy

MAY 10, 2024

This powerful technology bridges the gap between your bank accounts and various digital financial tools. It acts as the middleman, facilitating the flow of information from your accounts to popular services like Venmo, Acorns, SoFi, and MoneyLion. But how does Plaid ensure this exchange of sensitive information is secure?

Payment APIs and Integration 52

Payment APIs and Integration Venmo Privacy Credential 52

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. FIs can struggle to detect such attacks because fraudsters provide the authentication details necessary to access the accounts. Understanding ATOs.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

PYMNTS

JULY 10, 2020

Customers cannot afford to let fraudsters compromise their bank accounts under any circumstances, but the current economic climate makes attacks all the more painful. FIs that keep customers informed about these and other schemes can better enable them to actively protect their accounts. Customer-Centric Authentication.

Multifactor Authentication 53

Multifactor Authentication Authentication Credit Union Fraud Prevention 53

The Fintech Times

SEPTEMBER 21, 2024

Current plans outline that Singpass Face Verification (SFV) will be used in higher-risk scenarios to strengthen and complement existing authentication methods for DT setup. The banking sector in Singapore is also aiming to phase out OTPs for bank account login by DT users.

Verification 72

Verification Scams Financial Crimes Crime 72

PYMNTS

OCTOBER 19, 2017

In addition to the potential liability that issuers and merchants may face if stolen credentials or identities are used online, breaches only further fuel consumer concerns over whether – or how – to use their payments credentials securely in an increasingly digital world. And for good reason. Removing The Burden.

Authentication 58

Authentication Payment APIs and Integration Credential Use Case 58

PYMNTS

JUNE 8, 2020

Tightening Authentication. FIs must use highly secure methods to authenticate customers’ identities and make it difficult for cybercriminals that manage to steal customer information to pass themselves off as legitimate customers. MFA requires customers to prove their identities by providing at least two types of credentials.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

MARCH 1, 2017

There’s a war going on in the digital world, one that most consumers are unaware of, despite the impact it could have on their money and their privacy — a battle between fraudsters and security providers over account takeovers. Account takeovers accounted for more than $2.3 billion in losses last year.

Account Takeovers 56

Account Takeovers Accounts Credential Authentication 56

PYMNTS

APRIL 6, 2017

By solving the identity problem and centering the ecosystem around the individual and not the enterprise, Hall said it can create silos of people being in charge of their own data and authenticating themselves in a trusted way. Who’s Being Held Accountable? But the real question is when — and how. Solving for the Right Problem.

Authentication 48

Authentication Verification Credential Identity Theft 48

Fi911

JANUARY 18, 2024

They subsequently gain control over existing accounts, or establish new ones without the victim’s awareness. These accounts frequently pertain to credit cards and serve as a means to make unauthorized purchases A criminal might use stolen personal information to open a bank account, for example.

Account Takeovers 85

Account Takeovers MFA Fraud Detection Credit Cards 85

Nanonets

OCTOBER 1, 2024

Setting up the NetSuite API Before you can start creating sales orders using the NetSuite API, you'll need to set up your account access and ensure proper authentication. Under the SuiteCloud tab, ensure that REST Web Services and Token-Based Authentication are enabled. Here's how you authenticate using OAuth 1.0:

API 52

API Payment APIs and Integration VARS Authentication 52

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. That includes everything from bots, credential stuffing and malicious, intentional human hacking activity.

Account Takeovers 52

Account Takeovers Accounts Bots Credential 52

PYMNTS

SEPTEMBER 19, 2019

billion stolen credentials. Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. FIs are thus turning to a host of technologies to protect customers from account opening and other mobile channel fraud forms.

AI 57

AI Accounts Data Breach Credential 57

Stax

JULY 9, 2024

Fraud prevention measures, such as tokenization and multi-factor authentication, add layers of security to verify transactions and protect against unauthorized use of payment credentials. In most cases, mobile banking apps do not have the capability to transfer money between users that don’t share the same bank account.

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

Fintech Finance

AUGUST 29, 2024

They use device-based biometric authentication methods such as fingerprints or facial scans, but for an entirely new purpose: to streamline online shopping experiences. To confirm the payment, users can use the biometric authentication mechanism features on their device – whether it’s a fingerprint, face scan or PIN.

Visa 105

Visa Security Authentication Payments 105

Fintech News

MAY 21, 2024

The scammer claimed that her computer had been hacked and that her bank accounts might have been compromised. The scammer instructed the victim to log into her DBS bank account, but when she couldn’t remember her password, the scammer offered to reset it for her.

Scams 100

Scams Funds Transfer Credential Compromise 100

PYMNTS

NOVEMBER 30, 2020

A hacker is reportedly selling information from hundreds of C-suite executives' Microsoft -based email accounts, according to a report from Engadget. The accounts went on the market at a limited-access forum in the Russian underground. apparel maker and the CFO of a European retail chain," according to Engadget.

Business Email Compromise 116

Business Email Compromise Addressing Scams Ransomware 116

PYMNTS

JUNE 12, 2019

Compromised credentials are one of the most common causes of security breaches. While Google automatically blocks the majority of unauthorized sign-in attempts, adding 2-Step Verification (2SV) considerably improves account security.

Authentication 49

Authentication Phishing Bots Credential 49

The Fintech Times

JUNE 26, 2024

According to Promon, cybercriminals are using the malware strain to target banking customers in Southeast Asia, causing significant financial losses for account holders in the region.

Security 111

Security Cybersecurity Credential Compromise 111

PYMNTS

OCTOBER 24, 2018

For Tern Commerce, clearing those hurdles previously meant manually reviewing identity documents and other credentials, which is both expensive and time-consuming. This pushed Bonkowski and his team to explore digital authentication solutions to protect its global user base. Onboarding Global Consumers. Protecting Purchases.

Authentication 66

Authentication Push-to-Card AML Debit Card 66

Fintech News

JANUARY 17, 2024

With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year. As banks transition to digital-first models, criminals exploit online vulnerabilities to open fraudulent accounts using synthetic IDs.

Deepfake 120

Deepfake APACS Scams Authentication 120

PYMNTS

MARCH 22, 2019

They want to use their fingerprints to access their bank accounts and check their balances on their phones. Customers using their laptops to log into their bank accounts may become frustrated if they can’t see recent smartphone transactions, for instance. How Digital Personas Work .

Authentication 60

Authentication Legal ISOs Government 60

Nanonets

SEPTEMBER 11, 2024

In NetSuite, vendor bills are critical for financial and accounting purposes, helping businesses streamline payments and manage inventory effectively. Setting up the NetSuite API Before you can start creating vendor bills using the NetSuite API, you'll need to set up your account access and ensure proper authentication.

API 52

API Payment APIs and Integration Authentication VARS 52

PYMNTS

JANUARY 27, 2021

Financial institutions (FIs) around the world are confronting these issues with numerous digital implementations , as 85 percent of banks are offering some form of digital account opening, for example. One study found that the use of malicious botnets to register false accounts increased by more than 70 percent in Q3 2019, for example.

Innovation 85

Innovation Security Bots Identity Theft 85

PYMNTS

MAY 24, 2017

This all comes as no surprise to Brett McDowell, who is working with a team of corporations in verticals from financial services to software to take human error out of the authentication equation, as part of the FIDO Alliance. Because once hackers get their hands on the information, it’s already too late to stop them. No Password, No Cry? .

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). It showed how the scam uses two new tools, Muraena and NecroBrowser, to potentially trick users into sharing their private credentials.

Scams 58

Scams Credential Security Phishing 58

PYMNTS

MARCH 14, 2020

“The goal of the attack is generally to steal credit card information, guess shopping cart tokens to take over the shopping session, or exfiltrate consumer account PII (personally identifiable information) that can be used to perpetrate other fraud.”. percent of all eCommerce fraud , is still account takeover.

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Account Takeovers Credential Automation Bots 92

PYMNTS

MARCH 27, 2019

All the action on the legalized gambling front is putting authentication and verification services under a bigger spotlight – and making them major players in this growing area of digital payments and commerce. Supreme Court decision that legalized sports betting – lawmakers in the U.K. are considering a crackdown on digital wagering.

Authentication 46

Authentication Verification Money Laundering Regulatory Compliance 46