The Payments Association

OCTOBER 28, 2024

From shifts in unauthorised card fraud to the evolving nature of authorised push payment scams, there’s a lot to unpack—and a lot at stake. One of the most alarming trends identified in the report is the continued rise in social engineering scams, which now account for a significant portion of fraud activity. million cases recorded.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

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 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

Fintech News

JULY 9, 2024

Announced by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), this move aims to better protect customers from phishing scams. Phishing scams were among the top five scam types last year, with at least S$14.2

Phishing 107

Phishing Scams Online and Mobile Banking Credential 107

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

Fintech Finance

OCTOBER 24, 2024

Ahead of Money20/20 US, Visa , a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report. The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime.

Scams 98

Scams Ransomware Governance Government 98

Fintech News

MARCH 24, 2025

Notably, 29% of respondents prefer to shop at stores with higher security measures, while 21% say they like it when retailers ask them to provide their identity through second-factor authentication (2FA) as it gives them confidence that there is efficient fraud protection in place. million) due to these scams, according to Singapore Police.

Phishing 52

Phishing Scams Payments Online and Mobile Banking 52

VISTA InfoSec

JUNE 18, 2024

Next, analyze potential risks like malware infections, phishing scams, or disgruntled team members leaking sensitive data. In addition to access control, fortify your defenses with Multi-Factor Authentication (MFA). Kick things off with phishing awareness training. Outdated software?

Data Security 266

Data Security Security Encryption Cybersecurity 266

PYMNTS

APRIL 24, 2020

BleepingComputer.com reports that the Coronavirus Aid, Relief and Economic Security (CARES) Act has triggered the latest round of scams. . The phishing expedition, as explained by AbnormalSecurity.com , requests the recipient’s signature for PPP documents. Another scam attempts to collect online banking account information.

Phishing 63

Phishing Scams IRS Law Enforcement 63

Neopay

JANUARY 22, 2025

Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent. Fraudsters can use GenAI to: Quickly learn about specific targets and create personalised scams.

AI 59

AI Deepfake Phishing Audit 59

FICO

JULY 7, 2020

COVID-19 scams are on the rise. In a recent webinar I hosted, we learned that 31% of participants had received a communication that looks like a COVID-19 scam in the past 30 days. Vishing is like phishing, but over the phone. Smishing is similar to phishing, but is executed through text messages. every month.

Scams 97

Scams Smishing Phishing IRS 97

The Fintech Times

FEBRUARY 14, 2025

Enhanced selfie and fraud detection tools are necessary to protect social media engagement, ensure account authenticity, and prevent the risks posed by fake accounts. As a result, a full 30 per cent of identity fraud attacks targeted social media in Q4, compared to a mere three per cent in Q1.

Deepfake 78

Deepfake APACS Law Enforcement Fraud Detection 78

PYMNTS

OCTOBER 7, 2020

And as Entersekt Senior Vice President of Product Christian Ali told PYMNTS in a recent interview, the means by which banks authenticate their suddenly digital users must change, too. Scams have grown by triple-digit percentages as measured month over month. That security layer itself is only as strong as the authentication process.

Authentication 98

Authentication Use Case Phishing Contactless Payments 98

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

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. A fraudster will always imitate a company to generate maximum potential to find a victim. The Financial Gain.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

VISTA InfoSec

OCTOBER 21, 2024

The most common threat that you might already be aware of is phishing scams. The aim of such scams is to steal sensitive information, from personal to financial data. Whenever possible, make sure to enable two-factor authentication, as this will add another layer of protection to your accounts.

Cybersecurity 221

Cybersecurity Encryption Scams Cryptocurrency 221

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. SFV will be used in high-risk scenarios to complement existing authentication methods during DT setup.

Verification 111

Verification Scams Financial Crimes Phishing 111

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 122

Deepfake APACS Scams Authentication 122

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 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

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

NOVEMBER 20, 2024

In fact, 75 per cent of US shoppers will encounter scams when looking to buy things online. In an attempt to ensure consumers do not fall victim, the Financial Technology Association (FTA) is launching its annual campaign, Smarter Than Scams. It also brings awareness to the most common scams consumers face during the holiday season.

Scams 64

Scams Romance Scams Technology Venmo 64

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

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

Fintech Finance

OCTOBER 18, 2024

Using device-based biometrics, such as fingerprints or facial scans, payment passkeys replace one-time passwords (OTPs) to make online transactions not only faster and more convenient, but also more secure against fraud and scams. Upon successful authentication, the transaction is instantly completed.

Visa 96

Visa Scams Push-to-Card Payments 96

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.

Automation 63

Automation Scams Phishing Email Compromise 63

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 Finance

NOVEMBER 6, 2024

As payments become more intricate, Mastercard today announced the latest enhancement to its new Mastercard Payment Passkey Service which enables secure, on-device biometric authentication through facial scans or fingerprints, the same way consumers unlock their phones every day.

Visa 98

Visa APACS Transactions Authentication 98

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 107

Scams API Mitigation Phishing 107

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

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 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

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

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

VISTA InfoSec

SEPTEMBER 25, 2024

The most common threat that you might already be aware of is phishing scams. The aim of such scams is to steal sensitive information, from personal to financial data. Whenever possible, make sure to enable two-factor authentication, as this will add another layer of protection to your accounts.

Cybersecurity 130

Cybersecurity Encryption Scams Cryptocurrency 130

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

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

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