PYMNTS

MARCH 21, 2019

However, that backlash also promises to drive the eCigarette business online, and provide even more opportunities for ID verification and authentication providers. To dig deeper into the ongoing changes, PYMNTS caught up with Reinhard Hochrieser, director of product management at Jumio , an authentication services provider.

Authentication 61

Authentication Verification Rules Regulations 61

PYMNTS

NOVEMBER 13, 2020

Digital identity solutions have become increasingly widespread in recent years as alternatives or supplements to old-fashioned authentication methods like passwords. Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses.

Multifactor Authentication 97

Multifactor Authentication MFA Verification Online and Mobile Banking 97

PYMNTS

FEBRUARY 18, 2020

It can also help financial institutions (FIs) assess data from multiple channels, create seamless connections and enable them to make complex authentication decisions and detect fraud in real time. Omnichannel Fraud Protection.

Authentication 52

Authentication Identity Theft Multifactor Authentication Fraud Prevention 52

PYMNTS

FEBRUARY 26, 2019

Challenger banks may be offering consumers new ways to access financial products, but they still face the same authentication hurdle that has always plagued the financial services market: How do they ensure their customers are who they claim to be? Selfie images are compared to liveness checks to ensure customers are real people.

Authentication 49

Authentication Social Security Financial Inclusion Database 49

The Paypers

AUGUST 2, 2016

(The Paypers) The US Social Security Administration has announced that it will require a cell phone number from all Americans who wish to manage their retirement benefits at ssa.gov.

Social Security 28

Social Security Security Authentication 28

PYMNTS

MARCH 27, 2020

First-party fraud seems difficult to perpetrate because loan applications typically require identity verification with Social Security numbers, which enable banks to track down loan applicants who go off the grid. Many FIs are thus relying on AI or ML tools to automate authentication. Preventing Application Fraud.

Identity Theft 83

Identity Theft Technology Authentication Credit Cards 83

PYMNTS

SEPTEMBER 24, 2020

One of the key ways in which banks can counter this threat is through ironclad authentication processes, according to Sameer Shetty , head of digital banking at the Mumbai, India-based Axis Bank. Social Security numbers. ATOs mostly] happen through social engineering,” he said. Fraud Threats To Digital Banking.

Account Takeovers 82

Account Takeovers Database Authentication Crime 82

PYMNTS

JANUARY 7, 2019

States resisted the post-9/11 authentication law, and sought extensions to its deadlines. In addition, as more ID and authentication tasks become digital, there is increased concern about the security of the relevant databases — a concern that is part of the emerging Real ID ecosystem. Biometrics,” he said. “I

Authentication 73

Authentication Database Laws Security 73

PYMNTS

JUNE 24, 2020

By triaging different data points and sources, he said, additional layers of security can be introduced, triaging information to thwart synthetic ID creation. Just having information like your address or your Social Security number just does not cut it anymore,” Nolte explained. traced via sensor data, said Nolte).

Online and Mobile Banking 104

Online and Mobile Banking Contactless Payments Authentication Credit Cards 104

PYMNTS

DECEMBER 3, 2018

Excuse the homespun wisdom, but offering weak authentication defenses in the face of those determined young consumers can bring down heavy fines and unwanted attention, and threaten a growing retail or online business. However, authentication also provides business opportunity. Market Growth. First, a word about the stakes involved.

Authentication 70

Authentication Privacy Checks AI 70

Segpay

NOVEMBER 26, 2024

Securing Sensitive Information : With more services moving online, organizations are handling sensitive personal information such as social security numbers, medical records, and financial data. Proper digital identity verification tools help protect sensitive data from unauthorized access and security breaches.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. billion by 2024. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

FICO

JULY 7, 2020

Beware of people claiming to be part of reputable organizations, like research firms or government agencies, asking you for personal information like bank card numbers or your Social Security number. Use a different password for each account and enable multi-factor authentication where available. Fake Profiles.

Scams 97

Scams Smishing Phishing IRS 97

PYMNTS

DECEMBER 9, 2020

The passwords, user names and Social Security numbers that once helped us prove we are who we say we are now are vulnerable or have already been compromised. At the same time, banks and other firms must find new ways to verify and authenticate users and gird against theft and account takeovers.

Privacy 93

Privacy Regulations Verification Account Takeovers 93

Stax

MARCH 27, 2025

The Electronic Funds Transfer Act (EFTA) also requires added security features, such as multi-factor authentication, end-to-end encryption, and tokenization. Through this, the government can also disburse social security and tax refunds to them without using paper checks. You plan to optimize your customers subscriptions.

ACH 88

ACH Electronic Funds Transfer (EFT) Wire Transfer Wire 88

PYMNTS

OCTOBER 12, 2018

With next-day processing, those payment systems can function with a certain methodical authentication process because the window is long enough to allow it. If the payments — push or pull — are in real time, he said, then the authentication has to be in real time as well. That window is evaporating,” he noted.

Faster Payments 73

Faster Payments Authentication Payments Enrollments 73

PYMNTS

JANUARY 27, 2017

In your wallet is a driver’s license and possibly a Social Security card. There are issuing authorities stretching from the Social Security Administration to the DMV, who, as Webster noted, may offer an analogue for the issuance of such attributes. Maybe a credit card or two. Perhaps you keep a passport in a side pocket.

Social Security 57

Social Security Online and Mobile Banking Credential Governance 57

PYMNTS

AUGUST 8, 2019

And that fact — shared by Cognito CEO Alain Meier during a recent PYMNTS interview centered around changes in digital ID – serves to show the weakness of knowledge-based authentication. “We Meier said there is serious pressure to move further away from knowledge-based authentication methods and even Social Security numbers.

Security 58

Security Verification Online and Mobile Banking Breach 58

PYMNTS

DECEMBER 8, 2016

Their life is an open book on social media, and even the tiniest of details are never too much to provide. But when it comes time to hand over information to authenticate themselves to conduct a financial transaction, that door slams shut. The importance of authenticating a customer has never been more important.

Due Diligence 78

Due Diligence Authentication Addressing Social Security 78

PYMNTS

DECEMBER 23, 2019

Cybercriminals are getting good enough to fake biometric authentication methods using Deep Fake and other techniques. The customer whose Social Security number has been compromised is left fixing their credit report, merchants and issuers are out the money, and the fraudster skips away scot-free and onto the next synthetic identity.

Social Security 52

Social Security Identity Theft Wire Transfer Security 52

PYMNTS

NOVEMBER 26, 2020

Many banks, utility companies and government agencies have been leveraging two-factor authentication (2FA) for several years. The following Deep Dive examines businesses’, FIs’ and other organizations’ use of phone-based verification and text messaging to help customers secure their accounts and ease the checkout process.

Verification 69

Verification Security Authentication Online and Mobile Banking 69

PYMNTS

JUNE 20, 2019

In a new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , spoke about how to get digital ID right in this evolving space — and how good digital ID could spark even more efficiencies in healthcare as it becomes ever-more digital. Biometrics Role.

Authentication 55

Authentication Breach Law Enforcement Data Breach 55

PYMNTS

JULY 15, 2020

This seismic shift is, in turn, making it more important than ever for providers to examine the use of digital identity authentication technologies.”. As things like “deep fakes” get real and digital onboarding replaces face-to-face document presentation and authentication post-pandemic, KYP tech is fast becoming indispensable.

Data Breach 58

Data Breach CCPA Social Security Breach 58

PYMNTS

APRIL 11, 2019

Indeed, that was the message this week from Philipp Pointner, chief product officer at authentication services provider Jumio , during an interview with PYMNTS. In Jumio’s case, the authentication effort comes down to ID data points , biometrics and computer intelligence. This needs to be taken very seriously,” Pointner said.

Authentication 67

Authentication Verification Regulations Service Provider 67

PYMNTS

JUNE 11, 2019

In fact, a recent study found that cell phone numbers were the fifth-most-important part of respondents’ identities, following Social Security numbers, driver’s licenses, dates of birth and home addresses.

Verification 58

Verification Authentication Blockchain Push-to-Card 58

PYMNTS

APRIL 30, 2019

We at PYMNTS come here not to bury biometrics, but to explore another way of bringing identification and age verification to the masses — a method that, in the view of Alain Meier, CEO of Cognito , could help eCommerce operators stay ahead of regulators and otherwise offer relatively friction-free authentication to consumers around the world.

Verification 64

Verification Authentication Online and Mobile Banking Law Enforcement 64

PYMNTS

JANUARY 12, 2021

They know addresses, Social Security numbers, names, earnings, dates of birth and more. According to Edwards, the problem isn’t that the government lacks the information it needs to authenticate properly. It’s not that the government lacks information about citizens. The Government's Engagement Problem .

Governance 90

Governance Government IRS Payer 90

PYMNTS

DECEMBER 13, 2017

Identity verification and user authentication are hot spaces right now, and only getting hotter as merchants, financial institutions (FIs) and consumers demand more foolproof protection against fraudsters. The Social Security number won’t help. Pointner still thinks the answer is yes — if not today, then tomorrow.

Verification 62

Verification Social Security Enrollments Authentication 62

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

AUGUST 15, 2019

In the days before eCommerce, before data breaches grabbed everything from Social Security numbers to passwords, before fraudsters began to craft synthetic identities, strong customer authentication was rather simple. The data is out there — and someone else can use it for authentication or fraud.”. Identifying Identity.

Authentication 53

Authentication Compromise Addressing Regulations 53

PYMNTS

JUNE 4, 2020

In the blog post, the ransomware gang says they can release stolen data on student names, Social Security numbers, and financial information in less than a week if a crypto payment in Bitcoin is not made. Brett Callow , threat analyst at malware lab Emsisoft, was one of the first who spotted the issue.

Bitcoin 61

Bitcoin Ransomware Scams Phishing 61

PYMNTS

NOVEMBER 26, 2019

Two-factor authentication tools are part of the strategy, and technology can help ascertain whether multiple login requests are coming from the same device. A layered security approach — with robust identity authentication capabilities, executable in real time and across the entire customer journey — is among the most effective solutions.

Real Time Payments 61

Real Time Payments Authentication Fraud Prevention Credential 61

PYMNTS

OCTOBER 30, 2018

For example, the number of instances in which attackers went after Social Security numbers increased eightfold between 2016 and 2017. Yet, the data suggests that small businesses may not be aware of the risk they face from cybercriminals.

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

VISTA InfoSec

JUNE 21, 2023

Communicate clearly A data breach can expose people’s personal, financial, and health information, and in some cases, social security numbers can be taken too. If the company is found to not be following regulations, it may be at risk of penalties and heavy fines, as well as subject to legal cases from anyone affected.

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

APRIL 22, 2020

FIs should thus consider which details they are using during this process, as access to valid and current data is critical, and its impact on authentication and customer satisfaction has grown as more users start asking for digital banking services over in-person ones. Data and Authentication Frustrations. Biometrics and Onboarding.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

FICO

APRIL 8, 2020

For example, this process looks to establish there is a person such as Jane Smith and that she has the corresponding attributes such as date of birth and/or social security number. It may become necessary to enroll long-term, existing customers for authentication periodically. This involves being sure that an identity exists.

Accounts 52

Accounts Enrollments Authentication Verification 52