Fintech News

JANUARY 10, 2024

Recent initiatives include enhancing banking apps to block access when potentially harmful side-loaded apps are detected, a move that has significantly reduced malware-enabled scams. ” MAS and Infocomm Media Development Authority (IMDA) have been working on a Shared Responsibility Framework (SRF) for phishing scams.

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Accounts Scams Phishing Payee 103

Fintech News

APRIL 2, 2024

This initiative, aimed at providing customers with enhanced protection against digital scams, allows individuals to block online access to a portion of their funds. Since the launch of the Money Lock feature by three local banks – OCBC, DBS, and UOB – in November, over 78,000 accounts have been established with more than S$6.6

Accounts 103

Accounts Scams Phishing Blocks 103

PYMNTS

AUGUST 21, 2020

Hacking, cybercrime and various forms of digital fraud are a never-ending worry for digital-first banks, with fraudsters leveraging techniques as diverse as phishing schemes, identity theft, account takeovers and botnets to target both banks themselves and their customers. Deep Dive: Keeping Digital-First Banking Secure With AI, Biometrics.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

Nanonets

NOVEMBER 14, 2023

The cybercriminal proceeds to infiltrate the company's email system through methods like phishing emails or email account spoofing, particularly targeting key employees. According to Gartner’s 2022 Gone Phishing Tournament Report , a concerning 44% of employees click on email phishing links.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

CoinRemitter

MAY 20, 2024

Common cryptocurrency wallet attacks Phishing: Phishing is a common way scammers trick people in both cryptocurrency and traditional systems. In an article published on the Block, scams pretending to be crypto-related activities stole almost $300 million in 2023. This is alarming for businesses that accept crypto payments.

Scams 40

Scams Cryptocurrency Security Phishing 40

PYMNTS

NOVEMBER 25, 2019

The hackers sent phishing emails to the utilities’ employees in an attempt to get malware — dubbed “Lookback” — installed on computers. He added that the company now blocks emails from Hong Kong. “We We never got compromised, and never saw the phishing emails,” he said.

FBI 64

FBI Phishing Breach Compromise 64

PYMNTS

MARCH 18, 2020

Other fraudsters may go directly after restaurant employees with phishing schemes, a popular method for gaining access to data. Vishing” and “smishing” are two phishing variants that have become more popular as QSR employees and consumers grow wise to the suspicious emails associated with phishing.

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

Segpay

FEBRUARY 21, 2024

In a security incident, the technology can autonomously trigger predefined responses, such as isolating affected systems, blocking suspicious activities, or alerting security teams. Phishing and Social Engineering Prevention: Phishing and social engineering attacks pose significant cybersecurity threats.

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AI Innovation Fraud Detection Encryption 90

Fintech News

JUNE 3, 2024

Ransomware is a type of malicious software attack designed to block access to a computer system until a ransom is paid. Moreover, AI-driven phishing and malicious LLMs like WormGPT is projected to empower less skilled attackers, the firm says.

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Ransomware APACS Cybersecurity AI 98

Fi911

DECEMBER 19, 2023

The technology’s capabilities extend across various aspects of fraud detection, including: ATM Fraud: Blending anomaly detection, behavioral analysis, and risk assessment Credit Card Fraud: Detecting abnormal transaction patterns Email Phishing: Advanced ML-based scanners to identify and block harmful emails Mobile Fraud: Prompt notification regarding (..)

Fraud Prevention 92

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 92

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®.

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Volume Transactions Account Takeovers Phishing 72

PYMNTS

MAY 22, 2020

These financial crimes are perpetrated using various techniques, and no one-size-fits-all defense can block them all. People are one click away from a malware download or credential phishing [website]. “Whenever there’s a societal disruption, there are bad guys out there trying to take advantage of people.”.

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

Seon

JANUARY 29, 2024

This could be accidental, or more sophisticated, for example following a mass phishing email campaign. To target these accounts, fraudsters often rely on spear-phishing techniques (targeted phishing), or SIM-Swapping attacks. There are many paths to successful ATO fraud.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

The Fintech Times

AUGUST 13, 2024

As attacks become more complex, so do the prevention measures, enabling us to monitor 2,400 transactions per second and identify and block fraud. Latin America also saw a staggering 617 per cent increase in phishing attacks in 2023, with cyber criminals using AI to craft more realistic and targeted phishing emails.

AI 58

AI Fraud Detection Fraud Prevention Deepfake 58

Seon

OCTOBER 2, 2023

However, some payment terminals can be accessed remotely, such as through hacking and phishing techniques, so many refund scams are carried out online. A scammer uses a phishing email to convince their target that their payment system has encountered a software fault and needs remote assistance to be fixed. How Do Refund Scams Work?

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Scams Phishing Fraud Prevention Returns 52

PYMNTS

JULY 2, 2020

Account takeover fraud, phishing scams and friendly fraud have all seen upticks of late. Whatever a merchant does, the basic goal is the same across the ecosystem — let the maximum number of good transactions pass through seamlessly while blocking the bad ones and making the fraudster never come back.

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Transactions Account Takeovers Push-to-Card Fraud Prevention 112

PYMNTS

APRIL 14, 2019

In a statement to reporters, Microsoft said: “We addressed this scheme, which affected a limited subset of consumer accounts, by disabling the compromised credentials and blocking the perpetrators’ access.”. Hackers were able to gain entry by compromising a customer support agent’s credentials, Microsoft said in the letter.

Breach 68

Breach Accounts Credential Compromise 68

PYMNTS

AUGUST 27, 2019

Now, a new subscription — eero Secure — is enabling advanced security for every device connected to a home Wi-Fi network, as well as content filtering, ad blocking and insights through eero’s in-app activity center. eero Secure is available for $2.99 per month or $29.99 per year, while eero Secure+ is available for $9.99

Security 59

Security Ransomware Phishing Blocks 59

FICO

JULY 7, 2020

With phishing, bad actors use malicious emails that are disguised as legitimate to trick people into providing sensitive information or taking potentially dangerous action. 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

PYMNTS

DECEMBER 11, 2019

Also, blocking municipal services tends to affect a larger swath of the population, which is a motivator for ransom paying. It spreads by phishing and as an attachment on a financial document. While many attacks have previously targeted corporations and businesses, malware distributors are now attacking municipal organizations.

Ransomware 52

Ransomware Cybersecurity Phishing Audit 52

PYMNTS

AUGUST 7, 2020

The research also noted a 40 percent increase compared to February in the number of blocked attempts to guide users to phishing websites for one of the most-visited gaming platforms. . Online gambling compliance experts are also predicting that cybercrime will sharply rise in the coming months.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

JULY 27, 2018

This means we’re able to block the majority of bad ad experiences, like malvertising and phishing scams, before the scams impact people,” Spencer said. “We We blocked 79 million ads in our network for attempting to send people to malware-laden sites and removed 400,000 of these unsafe sites last year.

Cryptocurrency 40

Cryptocurrency Scams Blocks Phishing 40

PYMNTS

MAY 5, 2020

Pangretic cautioned that there will continue to be a rising tide of email scams (phishing) and synthetic fraud. On the “back end” of the business, Elan leverages state-of-the-art fraud detection tools to identify and prevent transactional fraud, account takeover and fraudulent applications.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

OCTOBER 4, 2019

Chris Dixon, a general partner at Andreessen Horowitz , told The Block that the school will boast free tuition. “We Researchers at Prevailion found that the Trojan malware — MasterMana Botnet — sends out phishing emails with malicious code to crypto investors. Even more surprising: The botnet only costs about $160.

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Bitcoin Best Practices Phishing Blocks 46

PYMNTS

JULY 13, 2018

This means we’re able to block the majority of bad ad experiences, like malvertising and phishing scams, before the scams impact people,” wrote Spencer. “We We blocked 79 million ads in our network for attempting to send people to malware-laden sites and removed 400,000 of these unsafe sites last year.

Cryptocurrency 40

Cryptocurrency Scams Digital Currency Blocks 40

PYMNTS

JUNE 12, 2019

While Google automatically blocks the majority of unauthorized sign-in attempts, adding 2-Step Verification (2SV) considerably improves account security. Google says iPhone and iPad users can now verify sign-ins with their Android security key, according to a report by TechCrunch.

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Authentication Phishing Bots Credential 49

Seon

JUNE 15, 2023

Fraudsters use manipulation tactics such as email-based phishing or take advantage of leaked company data to gain access to – and take over – one or more of the business’s accounts. How to Prevent Business Email Compromise Attacks BEC attacks can largely be carried out solely using social engineering attack-based phishing attempts.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

JULY 16, 2020

ClearSale , for example, is updating its app integration with Shopify to ensure merchants on its platform are equipped with strong fraud protection systems as cybercriminals continue to exploit the pandemic to their advantage, such as with COVID-19-related phishing schemes.

Payment Gateways 72

Payment Gateways Gateways Payments Phishing 72

The Payments Association

OCTOBER 28, 2024

Whether through fake profiles, phishing emails, or fraudulent advertisements, criminals are finding new ways to manipulate people into sharing their financial details or authorising payments. of every £10 of attempted fraud being successfully blocked. This equates to £6.65

Scams 88

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

PYMNTS

SEPTEMBER 19, 2016

A Chrome add-on called Password Alert is designed to help block phishing by warning people when they are entering their Gmail password into malicious websites. As Wired explained it, Jigsaw faces the difficult challenge of using artificial intelligence to make people behave nicely on the internet.

AI 72

AI Wires Wire Phishing 72

PYMNTS

MARCH 26, 2020

Blocking these bots would prevent Axos from being easily found on Google — the most popular website on Earth — and cripple its ability for new customers to find it online. In the past, a lot of organizations took the stance of blocking all the bots,” Valipireddy said. Hostile bots’ threats are very real, however. “If

Bots 56

Bots Ransomware Blocks Credential 56

PYMNTS

FEBRUARY 14, 2020

Phishing is another favored tactic for cybercriminals, who continued to make use of this tried-and-true method in 2019 with the illegal use of some of the most popular eCommerce logos to draw in unsuspecting consumers. The report looked at data from 31 mobile payment operators across 20 countries and found that fraudsters attempted to make 1.6

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

PYMNTS

SEPTEMBER 18, 2017

After blocking the traffic, the security team saw more of it the next day. They could also use data from the Equifax leak to engage in phishing scams to access more information, or they can hack into a victim’s email account and send requests for cash to be wire-transferred. Equifax then took it offline, reported the paper.

Breach 66

Breach Risk Federal Trade Commission Data Breach 66

FICO

MAY 27, 2021

This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. The enforcement activity is then to block access to those web domains, which requires a collaboration between ISPs in order to prevent more victims falling for the scam.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

FICO

JUNE 15, 2020

Since today’s elders are not digital natives, this will probably include your taking the opportunity to show them what phishing text messages look like. Block Solicitations. Play a voicemail message from a travel-award scam, if you get one.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Elder Abuse Scams Credit Cards 52

FICO

FEBRUARY 16, 2023

Using the data from these reports, issuers can act immediately to address known compromised cards with tactics like block/reissue or implement strategies to increase monitoring of those cards for signs of fraudulent activity. Knowing where skimmers are most prevalent is also a powerful piece of knowledge.

Compromise 98

Compromise Scams Debit Card Smishing 98

PYMNTS

OCTOBER 30, 2020

Land recently spoke with PYMNTS about the growing threat eSkimming presents, and detailed how payments tokenization and phishing awareness campaigns can keep consumers safe from these and other fraud tactics targeting eCommerce. Safeguarding Card Details. FIs can also offer customer outreach that raises awareness of these kinds of ploys. .

Credit Cards 77

Credit Cards Credit Union Consumer Data Breach 77