Seon

OCTOBER 2, 2023

We look at how refund scams work and how the right precautions can stop them from damaging your business. What Are Refund Scams? Refund scams involve a criminal tampering with a POS (point of sale) terminal so it sends them an unwarranted refund. How Do Refund Scams Work?

Scams 52

Scams Phishing Fraud Prevention Returns 52

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.

Phishing 40

Phishing Smishing Credential Scams 40

PYMNTS

AUGUST 28, 2018

Phishing scams remain one of the most popular ways a cyberattacker can target a small business. But the phishing scam is also evolving to target the C-suite itself. Employees should be trained to identify phishing scams, but the whaling tactic highlights the need for businesses to train their leadership teams, too.

Phishing 40

Phishing Scams Small Business Cybersecurity 40

The Fintech Times

SEPTEMBER 21, 2024

Current plans outline that Singpass Face Verification (SFV) will be used in higher-risk scenarios to strengthen and complement existing authentication methods for DT setup. “While banks will continue to do their part to fight scams, customers need to be vigilant themselves and practice good cyber hygiene.”

Verification 72

Verification Scams Financial Crimes Crime 72

VISTA InfoSec

FEBRUARY 25, 2024

User Account Details Usernames, passwords, security questions, login timestamps, failed login attempt logs, password reset tokens, multifactor authentication details, and session IDs. Accidental data leaks by insiders mishandling information also trigger breaches frequently.

Data Breach 223

Data Breach Breach Multifactor Authentication Cybersecurity 223

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.

Deepfake 120

Deepfake APACS Scams Authentication 120

The Payments Association

OCTOBER 22, 2024

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? As scams become more advanced, even the most cautious consumers are falling victim. However, this alone won’t solve the problem.

Rules 88

Rules Fraud Prevention Deepfake Caps 88

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.

Scams 58

Scams Credential Security Phishing 58

PYMNTS

JANUARY 27, 2020

Fraudsters are adding new twists to what has become an increasingly common scam targeting businesses’ B2B payments activity. Separate analysis from Singapore warned that monetary losses associated with BEC scams that specifically instruct targeted employees to send gift card redemption details are on the rise, too.

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

PYMNTS

JUNE 8, 2020

Tightening Authentication. FIs must use highly secure methods to authenticate customers’ identities and make it difficult for cybercriminals that manage to steal customer information to pass themselves off as legitimate customers. Fighting Phishing. percent “less likely to be compromised.”.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

JUNE 23, 2016

Small business accounting platform Xero has introduced an upgrade that aims to make transactions between businesses more secure amid rising phishing scams. The company said doing so is more secure than sending bills via email, as users cannot make changes to these documents unless they sign into the Xero portal.

Phishing 40

Phishing Scams Online and Mobile Banking Small Business 40

PYMNTS

OCTOBER 9, 2020

The pandemic has sparked a digital shift of positive changes likely remain in place after the pandemic subsides, but it’s also spawned at least one unwanted thing: a range of new email attacks and scams. We have seen phishing attacks surge since the pandemic started,” Reichel said. Top Four Current Scams. Spear Phishing.

B2B 116

B2B Phishing Scams Ransomware 116

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

Fintech Finance

AUGUST 29, 2024

Despite the rising popularity of one-time passwords (OTPs) due to their ease of use, they are increasingly vulnerable to online scams such as phishing, SIM swapping and message interception. Upon successful authentication, the payment is instantly completed. “By Enter payment passkeys.

Visa 105

Visa Security Authentication Payments 105

PYMNTS

MARCH 27, 2017

Just recently, Instagram joined the ranks of other social networks that allow their users to enable two-factor authentication. Security experts recommend that all users activate two-factor authentication options whenever possible. On Instagram, for example, users can opt into two-factor authentication in their settings.

Authentication 41

Authentication Phishing Scams Credential 41

Fintech News

MARCH 6, 2024

Singapore’s mobile operators Singtel and M1 have announced a collaboration to enhance security for their customers through network-based authentication. This initiative leverages standardised communication channels (APIs) set by the GSMA, allowing real-time verification of mobile phone numbers and device locations.

Scams 105

Scams API Mitigation Phishing 105

Stax

MARCH 4, 2024

How do two-factor authentication and “3-D secure” protect payment information? Multi-factor authentication (MFA) adds additional layers of security by requiring additional verification during the transaction process. What is SSL/TLS? SSL/TLS is the acronym for Secure Sockets Layer and Transport Layer Security.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. In 2023, 83% of financial institutions reported an increase in phishing attacks. The travel industry saw a 44% increase in phishing attacks in 2023.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication. Take company-wide training to identify phishing attacks for example.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

Seon

JUNE 7, 2024

One common tactic is fraudsters generating fake documents and data (or using synthetic IDs), all of which are crafted precisely and closely resemble authentic materials. Other AI applications include enhancements to traditional scams, such as phishing and social engineering attacks.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

PYMNTS

JANUARY 13, 2021

Phishing scams were on the rise all year, while a survey of online shoppers found that 40.3 Some of the most common tactics include phishing emails or impersonation scams, with some bad actors harnessing bots to reach thousands of consumers at once with these schemes. percent increase from the previous year.

Fraud Prevention 75

Fraud Prevention Posting Multifactor Authentication Scams 75

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? The phishing campaign targets consumers and also commercial users. The phishing campaign targets consumers and also commercial users.

Phishing 72

Phishing Credential Scams Payments 72

PYMNTS

MAY 24, 2017

According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam. They will come in, do a fake phishing scam, a fake malware download, a fake password request and see how many people follow through with it.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

APRIL 12, 2017

Identity company MorphoTrust USA looks to put a dent in tax fraud and theft by adding an additional layer of authentication security into the mix. The shift toward stronger authentication comes as tax season increasingly becomes the biggest holiday of the year for fraudsters. Magee, commissioner of the ADR.

Authentication 40

Authentication Tax Refunds Tax Scams Credential 40

The Fintech Times

AUGUST 14, 2024

Here they can be used to commit large-scale identity fraud by impersonating individuals in order to gain unauthorised access to systems or data, initiate financial transactions, or deceive others into sending money on the scale of the recent Hong Kong deepfake scam.

Deepfake 75

Deepfake AI Phishing Ransomware 75

Fi911

JANUARY 18, 2024

They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means. Banks and merchants are also frequently targeted by third-party scams. Multi-Factor Authentication (MFA) Implementing MFA for customer authentication can significantly enhance security.

Account Takeovers 85

Account Takeovers MFA Fraud Detection Credit Cards 85

PYMNTS

NOVEMBER 16, 2016

‘Tis the season … to be very, very wary of phishing and other types of fraud. Research suggests that financial phishing scams jump up nearly 10 percent in frequency during the holiday shopping season. That’s where CardinalCommerce comes in. That’s where CardinalCommerce comes in.

Phishing 64

Phishing Authentication Scams Fraud Prevention 64

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.

Phishing 45

Phishing Ransomware EMV CHIPS 45

Seon

MARCH 20, 2024

For example, artificial intelligence (AI), machine learning (ML) and generative tools used alongside advanced data analysis can forge new, difficult-to-detect fraudulent schemes, including AI-based scams like creating synthetic identities, generating false information and sending out large-batch impersonation-based phishing messages.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

PYMNTS

SEPTEMBER 28, 2020

In a report by OpenText , researchers found that one-quarter of Americans was targeted in a coronavirus-related phishing email attempt, and more than three-quarters said they have opened emails from unknown senders. Fifty-nine percent of survey respondents agree that phishing emails look more legitimate than ever before.

Phishing 96

Phishing Treasury Treasury Management B2B 96

The Fintech Times

JULY 10, 2024

This decision aims to fortify the defence against phishing scams, a persistent threat in the digital banking landscape. Despite their benefits in reducing unauthorised access, OTPs have become increasingly vulnerable to sophisticated phishing techniques, where scammers create fake websites to trick users into revealing their OTPs.

Phishing 59

Phishing Scams Authentication Financial Crimes 59

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.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

PYMNTS

OCTOBER 16, 2018

Apple, nearly a week after it emerged that some Apple IDs were stolen in China, apologized for the hacking, saying in a statement that it found “a small number of our users’ accounts” had been accessed via a phishing scam, reported The Wall Street Journal.

Phishing 46

Phishing Scams Breach Transaction Limits 46

PYMNTS

NOVEMBER 17, 2020

Fraudsters utilizing these schemes rely on tactics such as phishing and impersonation scams to trick customers and businesses into sending payments or payment details, and their use of real-time rails can enable them to make off with the funds before customers catch on. Bad actors typically perpetrate APP fraud in several ways.

Scams 89

Scams Account Takeovers Federal Trade Commission Real Time Payments 89

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

MARCH 6, 2020

Xie pointed to an uptick in email phishing attacks and scams – promising hand sanitizers and masks, for example, if would-be victims would just send funds. . Even relatively savvy individuals can get taken in.

Scams 52

Scams Phishing AI Fed 52

PYMNTS

NOVEMBER 17, 2020

A recent study found that phishing websites and emails spiked as the event drew closer, with many fraudsters using the Amazon brand and logos to trick customers into surrendering their login data and payment card credentials,” per the Digital Fraud Tracker®.

Volume 72

Volume Transactions Account Takeovers Phishing 72