FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

Compromise 98

Compromise Debit Card Scams Smishing 98

PYMNTS

SEPTEMBER 28, 2020

The Financial Crimes Enforcement Network (FinCEN) recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams, all with a COVID-19 twist. Strong consumer authentication comes in several forms, and it’s time to pick one. “A

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

The Payments Association

OCTOBER 28, 2024

Opportunity for innovation in customer experience The Click to Pay mandate presents a real opportunity for card issuers to improve customer experience through frictionless authentication, secure tokenisation, and simplified checkout.

Card Issuer 88

Card Issuer Issuers Payment APIs and Integration Interoperability 88

PYMNTS

JUNE 9, 2020

Increasingly, that work is being performed by dynamic global identity verification platforms that use strong consumer authentication (SCA) and/or multi-factor authentication (MFA) to harden the onboarding process against an army of cyberthieves exploiting pandemic disorder. percent ‘less likely to be compromised.’

AML 52

AML MFA Authentication Verification 52

FICO

AUGUST 16, 2022

Once a customer has used a compromised card reader, the fraudster can download or wirelessly transfer the card details and the video of the PIN being typed, giving them complete access to the account. One of the most insidious aspects of skimming fraud is that a transaction at a compromised location usually goes through without a hitch.

Compromise 52

Compromise Push-to-Card Romance Scams ATM 52

PYMNTS

FEBRUARY 18, 2020

He told PYMNTS that roughly 50 percent of that fraud is originating through mobile channels, which might make sense given the fact that a growing number of consumers are shifting to mobile commerce.

Fraud Prevention 66

Fraud Prevention Account Takeovers Online and Mobile Banking P2P 66

PYMNTS

AUGUST 15, 2018

3DS is a messaging protocol that allows consumers to authenticate themselves with their card issuer when making card-not-present eCommerce purchases. EMVCo is collectively owned by American Express , Discover , JCB , Mastercard , UnionPay and Visa , and focuses on the technical advancement of the EMV Specifications.

EMV 40

EMV Authentication Card Issuer Issuers 40