PYMNTS

MARCH 2, 2020

Barbara Corcoran, a judge on the popular TV show “ Shark Tank ,” said she is “thrilled” about getting back almost $400,000 that she lost during a phishing email scam, according to reports. Scamming and phishing are increasingly more common; about 114,000 people admitted they were scam victims last year alone.

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Phishing Scams Wire Wires 60

PYMNTS

FEBRUARY 1, 2021

40 legitimate email accounts of company executives have been compromised in a phishing campaign targeting businesses , according to Gov Info Security reports. The scam involves sending a phishing email claiming to be a Microsoft Office 365 update. The campaign is targeting businesses across the U.S.,

Data Breach 136

Data Breach Breach Business Email Compromise Scams 136

PYMNTS

AUGUST 2, 2019

To combat fraud — especially phishing — united we stand? As noted in the latest Digital Fraud Tracker , phishing attacks are up 76 percent this year compared to last year. Verizon has estimated that 30 percent of phishing messages are opened by their intended targets.

Phishing 79

Phishing Scams IRS Request for Information 79

FICO

FEBRUARY 23, 2022

That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020. Fortunately, it’s not all gloom and doom.

Scams 98

Scams Fraud Detection Smishing Fraud Prevention 98

Fintech Finance

SEPTEMBER 30, 2024

This false sense of security is compounded by the fact that 61% of participants have changed their behavior or reduced their use of payment platforms due to fears about cyber scams. ” Respondents were asked about nine different types of scams. 46% cited the possibility of being scammed as a barrier to trust.

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Scams Digital Payments Consumer Payments 97

FICO

MAY 27, 2021

The ‘courier scam’ is a global issue that intensified late last year and presented another worrying trend in the new world of digital payments and card scams. These scams are very successful — here’s how they work: 1. But why is this same attack repeated with such frequency and what can we do to be more resilient to the threat?

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

PYMNTS

JULY 30, 2018

A phishing scam making the rounds and targeting businesses is using the Square name to fool its targets. The Advocate also noted that a way to avoid falling victim to the scam is to verify the URL. Using financial services companies’ names and logos to commit scams is a common tactic for cybercriminals.

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Phishing Scams Business Email Compromise Email Compromise 51

The Fintech Times

FEBRUARY 17, 2025

Plus, we dive into cybersecurity challenges, proactive AI governance, and the evolving risks of AI-driven scams. This split isn’t merely about numbers; it reflects deeper strategic dilemmas banks face as they address the pressures of securing a return on their AI investments. Happy reading! Happy reading!

FinTech 59

FinTech Romance Scams Scams AI 59

PYMNTS

APRIL 22, 2020

Since Tuesday (April 21), the DOJ said the FBI’s Internet Crime Complaint Center (IC3) has reviewed more than 3,600 complaints related to COVID-19 scams. The sites were used as phishing schemes, authorities said. Scammers often employ addresses that differ slightly from the real ones they are impersonating.

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Scams Federal Trade Commission Law Enforcement Phishing 69

Fintech News

DECEMBER 17, 2024

The new offering aims to address the rising fraud risks in digital asset transactions. He explained that Revolut Pays direct integration with exchanges provides end-to-end control over transactions, blocking fraudulent activities such as stolen card usage or elaborate investment scams.

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Transactions Identity Theft Security Phishing 110

Fintech News

NOVEMBER 12, 2024

Deputy Prime Minister and Chairman of the Monetary Authority of Singapore (MAS) Gan Kim Yong addressed the safety of digital banking services for minors under 16 in a written parliamentary reply. This framework ensures banks compensate scam victims if institutional responsibilities are breached.

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Accounts Financial Literacy Transaction Limits Scams 106

PYMNTS

FEBRUARY 12, 2020

As for the scams themselves, those varied widely both in terms of tactics and targets. Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. And while the BEC is not the most common form scam, it is a lucrative one.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

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.

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Scams Credential Security Phishing 58

PYMNTS

JUNE 7, 2018

A phishing scam purporting to come from Apple is the most popular that we’ve seen,” Security Boulevard said. “It The criminal theory goes like this: Consumers are too numb or fatigued to give the message a close look, increasing the odds that enough of them will type in data to make the scam profitable for those on the other end.

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Phishing Scams Regulations Rules 43

PYMNTS

APRIL 14, 2020

With the business email compromise (BEC) phishing attack a continuously growing threat for businesses large and small, organizations are exploring how strategic cybersecurity investments can protect them when bad actors attempt to steal company cash or redirect business payments.

Email Compromise 96

Email Compromise Compromise Business Email Compromise Phishing 96

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

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Deepfake APACS Scams Authentication 122

PYMNTS

OCTOBER 19, 2020

These apps are not without danger, though, and fraudsters are looking to cheat and scam their way to paydays from innocent users. We split out scams and frauds,” he explained in a recent interview with PYMNTS. Fraud means someone is trying to access your device, while scams consist of people being tricked into sending money.”.

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Zelle Scams AI CashApp 68

PYMNTS

FEBRUARY 29, 2016

It looks like Snapchat has been scammed by an enterprising phisherman who managed to collect personal data on about 700 employees of the social media service. Spiegel confirmed he had never sent such a request and that whoever did was spoofing his email address. Snapchat has confirmed it will push further employee training.

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Phishing Scams Social Security Payroll 41

PYMNTS

MAY 5, 2020

But attack vectors and sheer COVID-induced mayhem are ideal conditions for cybertheft, and CUs are in the crosshairs of several familiar scams that have rapidly spread, much like COVID itself. ” Phishing, Smishing and the Value of Education . The fact that fraudsters use tragedy for their own gain is nothing new, of course.

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Credit Union Smishing Phishing Credit Union Service Organization 95

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. PYMNTS breaks down the numbers behind the latest cases below.

Business Email Compromise 91

Business Email Compromise Scams Email Compromise Crime 91

PYMNTS

JUNE 24, 2020

government in late March, aimed to quickly address a number of financial problems from the rapid onset of the pandemic, including aiding small- to medium-sized business (SMB) owners and individuals affected by the economic downturn. Phishing scams in which fraudsters impersonated banks to glean personal information were rampant.

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Scams Money Laundering Wire Wires 79

CoinRemitter

SEPTEMBER 22, 2023

What is a phishing attack? The cyber phishing attack is intended to trick individuals into submitting/giving up sensitive information (such as private keys, passwords, etc.). But they may steal and misuse your sensitive information to execute their intended crypto scam.

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Phishing Smishing Credential Scams 40

PYMNTS

JULY 2, 2020

Account takeover fraud, phishing scams and friendly fraud have all seen upticks of late. based consumer suddenly shopping from a Zimbabwe-based IP address. He added that fraudsters have been showing up across the board in terms of fraud types attempted. Or problems could be very large — a U.S.-based

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Transactions Push-to-Card Account Takeovers Fraud Prevention 112

PYMNTS

SEPTEMBER 21, 2019

It’s National Cyber Security Awareness Month, and industry leaders are zeroing in on some of the most vulnerable targets of cyber scams: small businesses. Information on phishing email or BEC scam campaigns, for instance, can be shared to help small businesses protect themselves before an attack occurs. Stronger passwords.

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Data Breach Breach Small Business Business Email Compromise 80

FICO

FEBRUARY 23, 2022

That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020. Fortunately, it’s not all gloom and doom.

Scams 52

Scams Consumer Fraud Detection Smishing 52

PYMNTS

JULY 21, 2020

This problem puts many at risk of falling victim to scams. This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). It also details how payment service providers can up their defenses against such threats. Fraudulent Sellers.

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P2P Scams Security Account Takeovers 60

The Fintech Times

DECEMBER 19, 2024

” Slipping through the cracks Increasingly sophisticated tactics, such as fake invoices, deepfake media, and phishing scams – driven by generative AI – have made attacks more convincing and harder to detect.

Automation 59

Automation AI Fraud Prevention Deepfake 59

The Payments Association

OCTOBER 22, 2024

Further, it is unclear whether the rules address the complexities and evolving fraud tactics. As fraud continues to rise, especially with the emergence of AI-powered scams, is this new regulation enough to tackle the ever-evolving threat of financial fraud? However, this alone won’t solve the problem.

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Rules Fraud Prevention Caps Deepfake 88

PYMNTS

MARCH 12, 2020

The email was changed so that it looked like it was sent from “CDC-Health-INFO,” and came from the email address of a diplomat from the United States. These scams take many forms and could be about insurance policies, pension transfers or high-return investment opportunities, including investments in cryptoassets,” the notice said.

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Phishing Returns Scams Cybersecurity 53

PYMNTS

MAY 19, 2020

The leaked information includes name, mother’s maiden name, date of birth, nationality, gender, username and nicknames, recent purchases, phone number, and email and home addresses. The risk of phishing and phone scams is also raised by the Natura data leak,” Sen said, according to the report.

Identity Theft 93

Identity Theft Payment APIs and Integration Payment-Related Information Phishing 93

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Deep Dive: Why Fraudsters See Value in Phishing.

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Phishing Scams Addressing Social Security 51

CoinRemitter

MAY 20, 2024

According to Business Standards, the losses due to crypto scams grew 54% in 2023. billion worth of crypto was sent to illicit crypto wallet addresses. These wallets were connected to terror financing, scams, and sanctions violations. Attackers use this info to cause problems, like blocking real payments or scamming the owner.

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Scams Cryptocurrency Security Phishing 40

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

PYMNTS

JANUARY 20, 2017

In this week’s Hacker Tracker , Radware shares its global cybersecurity research on what’s really motivating cybercriminals, a Gmail phishing attack targets savvy users and the U.S.’s In many cases, experienced or tech savvy users can spot a phishing email scam from a mile away. Money On The (Cybercriminal) Brain.

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Phishing Ransomware EMV CHIPS 45

PYMNTS

JULY 15, 2020

On Musk’s account, a tweet appeared asking for bitcoin, promising to double all payments sent to an address. A tweet from Apple (its first-ever tweet) and another from Bezos were similar to Musk’s, promising to double payments in bitcoin for anyone visiting an address posted.

Accounts 56

Accounts Scams Phishing Bitcoin 56

PYMNTS

JULY 24, 2020

In some instances, this would have given the third party bad-actors access to basic customer account information such as first name, address, last order, total order number, and in some cases, the last four digits of a customer’s credit card. We take data protection and privacy very seriously.

Accounts 75

Accounts Compromise Data Breach Phishing 75

The Fintech Times

DECEMBER 18, 2023

“But with the popularity of generative AI (shout out to ChatGPT and FraudGPT), fraudsters can now make their social engineering scams even more convincing at an unheard of scale. Take company-wide training to identify phishing attacks for example. Deep fake threats John Baird, co-founder and CEO of Vouched.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139