PYMNTS

FEBRUARY 19, 2019

What’s more, fraudsters are getting smarter, building out identities and initiating money transactions that are made to appear as legitimate as possible before making their move. Yet, how can banks protect against identity theft and application fraud with so many details compromised? Inverting the Fraud Approach.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

PYMNTS

OCTOBER 7, 2020

These bad actors are tapping everything from tried and true phishing schemes to tailored identity theft to scrape data from these digital sites, and not properly protecting against these efforts can lead to significant strain.

Verification 89

Verification Identity Theft Online and Mobile Banking Authentication 89

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake 122

Deepfake APACS Scams Authentication 122

PYMNTS

MAY 4, 2020

Three common forms of fraud that can threaten credit unions (CUs) are check fraud, card fraud and automated clearing house (ACH) fraud, and fraudsters often deploy phishing emails to deceive and defraud customers. Rise in Phishing Attacks and Data Breaches. Phishing attacks can also target CU employees.

Phishing 56

Phishing Credit Union Breach Data Breach 56

PYMNTS

APRIL 30, 2019

Not only does the data on the 24 GB database include people’s full names, street addresses, marital statuses, dates of birth, income brackets, home ownership statuses and more, but the researchers don’t know who the database belongs to, since it was hosted on a cloud server. Everyone in the database is over the age of 40.

Database 49

Database Identity Theft Breach Phishing 49

PYMNTS

OCTOBER 9, 2020

state employment programs to phishing scams with bad actors claiming to represent retailers — such as luxury brand Vince Camuto in one recent email scam — to good old-fashioned identity theft. Fraudsters have already stolen a massive pool of email addresses and other personal details they can use to pose as legitimate customers.

Verification 83

Verification Consumer Online and Mobile Banking Scams 83

VISTA InfoSec

JUNE 21, 2023

This could include setting up a fraud alert for credit files, changing passwords, setting up two-factor authentication (2FA), keeping a close eye out for phishing emails or unusual activity in bank accounts. You can also include links to up-to-date information on identity theft if appropriate. 5 - (2 votes)

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

MARCH 29, 2019

The Daily Mail reported that personal information from 982 million email accounts included names, gender, dates of birth, employers and even home addresses in the database. The company offered an “enterprise email validation” service for marketing companies to check whether email addresses were valid or not. Verifications.io

Database 74

Database Accounts Breach Phishing 74

VISTA InfoSec

JULY 5, 2023

With the proliferation of people paying hospital bills and health insurance using credit and debit cards, the risk of identity theft has also augmented exponentially! Regularly test and assess network vulnerabilities to identify and address any weaknesses. million between May 2020 and March 2021.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

APRIL 15, 2019

The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. Phishing for Paychecks. HR departments need be on the alert for a new type of phishing scam that asks for reroutes on direct deposit accounts, CNBC reported.

Money Laundering 51

Money Laundering Wire Wires Identity Theft 51

FICO

FEBRUARY 16, 2023

Using the data from these reports, issuers can act immediately to address known compromised cards with tactics like block/reissue or implement strategies to increase monitoring of those cards for signs of fraudulent activity. Knowing where skimmers are most prevalent is also a powerful piece of knowledge. Debbie holds a B.A.

Compromise 98

Compromise Debit Card Scams Smishing 98

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

Seon

JUNE 27, 2024

AI’s capabilities, like machine learning algorithms, are being trained to identify and exploit vulnerabilities, automate phishing attacks and bypass traditional security measures. AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

PYMNTS

OCTOBER 9, 2020

Some bad actors are employing the encryption tools used by social messaging app Telegram , for example, in order to hide stolen payment details or personal data such as email addresses from detection.

Automation 75

Automation Debit Card Identity Theft Contactless Payments 75

PYMNTS

JANUARY 20, 2020

Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Bad actors have taken full advantage of the online world’s increasing fragmentation as consumers and businesses alike interact across dozens of channels.

Identity Theft 54

Identity Theft Fraud Prevention AI Scams 54

PYMNTS

SEPTEMBER 16, 2020

The pandemic’s effects are reverberating throughout the process, however, and colleges completing the majority of new student onboarding must use remote, digital tools that enable them to secure students’ private details, including their addresses, financial data and health information. percent of all breaches reported during that year.

Cybersecurity 56

Cybersecurity Enrollments Phishing Identity Theft 56

PYMNTS

JUNE 27, 2016

prosecutors believe Locsin used websites, phone calls and other online means to illegally access the accounts and attempt to conduct wire transfers, purchase merchandise, change addresses and even add new cardholders. Attorney for the Central District of California alleges, was behind a phishing scheme between Nov. 2012 and Sept.

Payments Data 40

Payments Data Identity Theft Wire Transfer Compromise 40

Fintech Finance

MARCH 18, 2024

With the rise of e-commerce orders, enterprises are increasingly vulnerable to various forms of fraud, including card testing, phishing, identity theft, and more. The collaboration between Equifax and VTEX addresses this challenge head-on, providing customers with advanced tools to combat fraud and help protect their revenue.

Fraud Prevention 52

Fraud Prevention Fraud Detection Identity Theft Cybersecurity 52

The Payments Association

NOVEMBER 18, 2024

Fraud attacks targeting youth, including online scams, phishing attempts, fake scholarships, identity theft, and money muling, often take advantage of their inexperience and lack of knowledge. These endeavours signify a major shift towards interactive and practical financial education tools that resonate with young learners.

Financial Literacy 88

Financial Literacy Financial Crimes Crime Scams 88

Innovative Payments Association

JUNE 26, 2024

She noticed a suspicious fake email addressed from a friend asking for money, which led her to check her bank statement online. Secure Personal Information: Never give out personal information over the phone, through email, or online unless you initiated the contact and are sure of the recipient's identity.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

Seon

JANUARY 29, 2024

It is also considered a form of identity theft, because it happens when someone logs into an account that isn’t theirs to exploit it. This could be accidental, or more sophisticated, for example following a mass phishing email campaign. There are many paths to successful ATO fraud.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

The Fintech Times

JANUARY 17, 2024

Clearly, consumers recognise that addressing our financial crime challenges requires new and more innovative approaches. “If compliance leaders are concerned about how customers will receive this information, our survey suggests they should be optimistic.

AI 59

AI Financial Crimes Crime Security 59

PYMNTS

JULY 25, 2017

At 71 percent, as estimated by one secure payments processing firm, identity theft is the most common type of fraud. Phishing follows close behind at 66 percent. Retailers and merchants are losing more than $3 for every dollar of fraud incurred as recently as 2014, and that number was up from $2.79 the year before.

EMV 48

EMV Identity Theft Mitigation Breach 48

FICO

MAY 27, 2022

Identity theft is one of the key drivers for the soaring levels of application fraud. It remains one of the top three fraud attacks, alongside phishing and card testing. In Europe specifically, organizations have seen a significant rise in identity theft over the past year.

Identity Theft 52

Identity Theft Origination Use Case Checks 52

Seon

JUNE 15, 2023

Fraudsters use manipulation tactics such as email-based phishing or take advantage of leaked company data to gain access to – and take over – one or more of the business’s accounts. Check out SEON’s address lookup widget below to see this approach in action. The most damaging form of BEC is account takeover (ATO) attacks.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

Payment Savvy

DECEMBER 3, 2020

Cyber frauds can take place in several forms, including: Identity theft is when an attacker gets personal information about an individual and uses it to commit fraud without their consent. Social engineering hackers build trust in individuals using social interactions.

Encryption 52

Encryption Data Encryption Identity Theft Cybersecurity 52

PYMNTS

DECEMBER 20, 2019

Clean fraudsters can acquire their stolen identities through a variety of means. Phishing schemes are particularly common, occurring when fraudsters impersonate an authority figure from a website the victim trusts and asks for their username and password.

Data Breach 52

Data Breach Credit Cards Breach Phishing 52

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details. million, with an average of $136 being stolen per phishing attack.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

Fintech News

DECEMBER 16, 2024

Singapore’s Shared Responsibility Framework (SRF) for phishing scams started today, officially implemented by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority of Singapore (IMDA). The SRF focuses on phishing scams, which are common in Singapore and often result in unauthorised transactions.

Phishing 110

Phishing Scams Credential Romance Scams 110

PYMNTS

AUGUST 20, 2020

online customers have been targeted by COVID-19-related fraud, with phishing scams emerging as the top way these bad actors are attempting to gain access to their victims’ personal data. A recent study found that 32 percent of U.S.

Online and Mobile Banking 115

Online and Mobile Banking Privacy Regulations Identity Theft 115

PYMNTS

JANUARY 24, 2017

According to a report released earlier this month jointly by CyberScout and the Identity Theft Resource Center, within the United States, the sheer number of data breaches is on the upswing, to the tune of about 40 percent, as the total number of breaches found across the duo’s research came in at 1,093.

Data Breach 44

Data Breach Breach Identity Theft Phishing 44