Fintech Finance

MAY 2, 2024

Orum , the simplest API for fast, reliable payments, today announced the launch of No Code Verify, which helps businesses and institutions determine whether a bank account is open and valid before initiating payments — all without integrating an API.

Verification 52

Verification Payment APIs and Integration Accounts Same Day ACH 52

PYMNTS

APRIL 24, 2019

Reports have appeared all over social media, particularly via Reddit and Twitter , about Chipotle user accounts being pirated, with hundreds of dollars’ worth of food ordered to customer cards that those customers never saw. She further noted that the firm is pretty sure credential stuffing is the root cause in this case.

Credential 67

Credential Breach API Addressing 67

VISTA InfoSec

JUNE 3, 2024

Credential stuffing , a form of cyberattack where attackers use stolen credentials to gain unauthorized access to user accounts, highlights the need for strong password policies. Avoiding Reuse of Passwords Reusing passwords across multiple accounts is a common but dangerous practice.

MFA 130

MFA Credential PCI DSS Compliance 130

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?

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

OCTOBER 17, 2018

Visa announced today the commercial expansion of its Visa Token Service for “credential-on-file token requestors.” Network tokens offer merchants an appealing solution to boosting the security of transactions while also helping merchants manage the account credentialing that is now the reality of multichannel retail payments.

Credential 86

Credential Digital Payments Payments PayPal 86

Fintech Finance

MAY 7, 2024

annually in fraud losses accounting for a significant portion of global fraud. Thirty three percent of enumerated accounts experienced fraud within five days of a fraudster obtaining access to their payment information. These attacks, known as enumeration attacks, inflict operational expenses and $1.1B

Accounts 59

Accounts AI Issuers Compromise 59

The Paypers

FEBRUARY 15, 2019

(The Paypers) Dunkin’ Donuts has been the victim of a credential stuffing attack during which hackers gained access to customer accounts.

Credential 28

Credential Compromise Accounts 28

PYMNTS

FEBRUARY 26, 2020

Their research found that nearly half of surveyed restaurants’ online and mobile ordering solutions require only usernames and passwords to log in — a known security weakness given that customers often use the same passwords for multiple accounts. Mexican QSR Chipotle is another mobile order-ahead player leveraging AI for security.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

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

PYMNTS

JULY 24, 2020

and Canadian online grocery delivery service, blamed reused passwords for the recent account hacks that led to the theft of its customers’ personal data that landed on the dark web. Instacart advised customers to select unique, strong passwords for their accounts that they do not use on any other apps or websites as an extra precaution.

Accounts 75

Accounts Compromise Data Breach Phishing 75

Fintech News

JULY 9, 2024

Customers with activated digital tokens on their mobile devices will need to use these tokens for logging into their bank accounts via browser or mobile app. Those who have not yet activated their digital tokens are encouraged to do so to reduce the risk of credential phishing.

Phishing 106

Phishing Scams Online and Mobile Banking Credential 106

PYMNTS

APRIL 14, 2019

According to reports citing Microsoft, the company confirmed that a “limited” number of webmail users — including @msn.com and @hotmail.com — saw their accounts compromised by hackers. It also appears the bad guys didn’t access login credentials including passwords. Microsoft said affected users should change their passwords.

Breach 68

Breach Accounts Credential Compromise 68

PYMNTS

DECEMBER 17, 2019

An unidentified group is reportedly putting much effort into a complicated scam to steal the login credentials of government personnel. The victim is then offered a choice of logging in through email credentials from providers such as Google, Microsoft and Yahoo. Anomali, a security firm, says it has found bogus websites of the U.S.,

Credential 40

Credential Scams Email Compromise Business Email Compromise 40

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. An accounts payable audit is an in-depth assessment of a company's accounts payable records and procedures.

Audit 52

Audit Accounts Procedures Compliance 52

VISTA InfoSec

JUNE 19, 2024

For instance, an attacker might send an email that appears to be from a trusted video communication platform, prompting you to click on a link to verify your account or update credentials. Once you follow the link, you enter a fake login page that captures your information.

Risk 242

Risk Ransomware Phishing MFA 242

Bank Automation

MARCH 21, 2024

In 2023, cyberattacks using valid credentials to gain access to user accounts increased 71% from 2022, according to IBM’s 2024 X-Force Threat Intelligence Index. Financial institutions must prioritize multifactor authentication as hackers take advantage of a lack of identity protection.

Multifactor Authentication 75

Multifactor Authentication Authentication Credential Accounts 75

VISTA InfoSec

MAY 12, 2024

Implementing 2FA adds an extra layer of security to a POS system by requiring users to prove their credentials through other means such as one-time passwords on other devices or through biometrics. This additional step helps prevent unauthorized access even if login credentials are compromised, keeping your data secure.

PCI DSS 245

PCI DSS Security Compromise Best Practices 245

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

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

Fintech News

SEPTEMBER 17, 2024

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. Customers without a Singpass account are advised to register and download the Singpass app beforehand.

Verification 108

Verification Scams Financial Crimes Phishing 108

PYMNTS

MARCH 4, 2020

Clothing company J.Crew said an unknown hacker accessed some of its customers’ online accounts almost a year ago, according to reports. Online accounts also store order numbers, shipping confirmation numbers and shipment statuses.

Accounts 72

Accounts Breach Credential Laws 72

Payments Dive

JANUARY 20, 2023

It’s unclear where or how customer account credentials were obtained. Impacted customers were notified of the incident nearly a month after it was discovered.

Data Breach 78

Data Breach Breach PayPal Credential 78

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

Fintech News

AUGUST 7, 2024

These include not disclosing one’s account credentials, actively checking transaction notifications, and verifying that transactions are made to the intended recipient.” They continuously monitor scam trends and adjust their measures as needed.

Cross-Border Payments 106

Cross-Border Payments Cross-Border Scams Transaction Limits 106

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

VISTA InfoSec

FEBRUARY 25, 2024

They take advantage of vulnerable software, stolen credentials, tricked employees, business partner access, unencrypted transfers, and even insider threats to penetrate networks. And painful account recovery procedures await all users who must reset passwords across potentially dozens of breached websites.

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

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

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

VISTA InfoSec

APRIL 5, 2024

A file falling into the wrong hands or credentials being revealed to unauthorized personnel could spell lost productivity and revenue. Emphasis on accountability and trust Working remotely calls for a more profound sense of accountability and trust within the business because people don’t always see each other.

Best Practices 262

Best Practices Business Continuity Continuity Compromise 262

Payments Source

NOVEMBER 6, 2018

The breach may have occurred through a technique called "credential stuffing," in which hackers who have stolen passwords for other websites try them out on an online banking site.

Breach 71

Breach Data Breach Credential Accounts 71

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The business of an account aggregator will be entirely information technology (IT)-driven,” notes the document, which also states that no other business can be conducted by the aggregator.

Accounts 52

Accounts Laws Non-Bank End User 52

The Paypers

SEPTEMBER 19, 2018

(The Paypers) Justin Lie , CashShield : On top of account takeovers, another popular form of fraud attacks on accounts involves the creation of multiple new accounts using stolen genuine user credentials

Account Takeovers 48

Account Takeovers Accounts Credential 48

The Fintech Times

SEPTEMBER 21, 2024

This process aims to make it more difficult for scammers to take over a customer’s DT by setting it up on his own device using phished credentials such as an SMS, one-time passwords (OTPs) and/or bank card information. 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

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

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. We’ve always seen RDC attacks, but they’ve popped up more regularly this year and I suspect it’s just the tip of the iceberg.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

Fintech News

MAY 8, 2024

Visa has launched an AI-powered enhancement to its Visa Account Attack Intelligence (VAAI) solution, designed to combat the increasing number of account attacks facilitated by automated scripts and botnets. Visa reports that 33% of accounts targeted by enumeration attacks experience fraud within five days of the breach.

Bots 109

Bots AI Issuers Fraud Prevention 109

PYMNTS

NOVEMBER 18, 2019

Security researchers have discovered that thousands of Disney+ accounts have been hacked and are for sale on the Dark Web. In fact, some users reported that within hours of the launch, hackers had already accessed their accounts, logged them out of all devices, and then changed the account’s email and password.

Accounts 40

Accounts Credential NOV Research 40