The Payments Association

OCTOBER 22, 2024

Further, it is unclear whether the rules address the complexities and evolving fraud tactics. This increase was driven by fraudsters leveraging sophisticated techniques, such as fraud networks, phishing scams and AI-generated deepfakes, to trick victims into authorising payments.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

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

Seon

SEPTEMBER 28, 2023

Verizon Business estimates that 74% of data breaches are down to individuals being absent-minded or tricked by social engineering attacks such as phishing emails. SEON’s widget, shown here, allows you to enter an email address or phone number to reveal a person’s digital footprint. The answer is security awareness training.

Security 52

Security Phishing Best Practices Data Breach 52

Seon

JANUARY 29, 2024

This could be accidental, or more sophisticated, for example following a mass phishing email campaign. To target these accounts, fraudsters often rely on spear-phishing techniques (targeted phishing), or SIM-Swapping attacks. There are many paths to successful ATO fraud.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

FICO

SEPTEMBER 17, 2018

If there are vulnerabilities such as older versions of systems, outdated SSL certificates, use of poor network protocols, or the suspicion of phishing and malware originating from the organization’s servers, these are flagged and prompt corrective action can be taken. Layer 2 – Authentication. Multi-Entity Profiling.

Cybersecurity 45

Cybersecurity Multi-Currency MFA ATM 45

FICO

SEPTEMBER 19, 2018

If there are vulnerabilities such as older versions of systems, outdated SSL certificates, use of poor network protocols, or the suspicion of phishing and malware originating from the organization’s servers, these are flagged and prompt corrective action can be taken. Layer 2 – Authentication. Multi-Entity Profiling.

Cybersecurity 40

Cybersecurity Multi-Currency MFA ATM 40

PYMNTS

NOVEMBER 12, 2019

It is critical that platforms protect themselves against phishing and malware, Farris said. Defending against such threats means encrypting sensitive data both in storage and transit, applying multi-factor authentication (MFA), using penetration testing, accessing continual attack monitoring and more. Ramping Up Protections.

Money Laundering 40

Money Laundering AML Authentication MFA 40

The Payments Association

FEBRUARY 17, 2025

AiTM attacks work by intercepting communication between a user and a legitimate service through phishing techniques. In an AiTM attack, the attacker typically sends a phishing email with a link that directs the victim to a fake login page (redirector or AiTM phishing page) designed to look like a legitimate service.

Phishing 88

Phishing Multifactor Authentication Authentication Credential 88

The Payments Association

DECEMBER 10, 2024

It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. The article explores the growing threat of AI-enabled fraud in the payments sector and how firms can combat it with advanced technologies. Why is it important? What’s next?

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88