PYMNTS

JANUARY 28, 2020

Try wrapping your mind around the price tag of the average corporate data breach at $3.92 Combatting aggressive online fraudsters calls for asymmetrical strategies that confound mal-bots with superhuman processing power. In fact, phishing is the root cause of 90 percent of data breaches , including the giant commercial variety.

Data Breach 57

Data Breach Phishing Breach Bots 57

PYMNTS

JANUARY 27, 2021

Banks have reported myriad fraud threats over the past year, including various forms of identity fraud and bot activity, and are working overtime to develop countermeasures. Bot activity is the third major threat banks faced in 2020. utilize unique passwords for each of their accounts, for example.

Innovation 85

Innovation Security Bots Identity Theft 85

PYMNTS

SEPTEMBER 17, 2020

Sharing economy businesses looking to keep their guests safe must deter data breaches that continually threaten organizations and can allow cybercriminals to steal usernames and passwords to access accounts. Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second. More than 111 million U.S.

Verification 89

Verification Authentication Economy Data Breach 89

VISTA InfoSec

JULY 31, 2023

Segregation of Networks: This involves isolating the cardholder data environment (CDE) from the rest of the business’s network. Doing so can help reduce the scope of PCI DSS compliance and minimize the risk of data breaches. Avoid default settings for servers, software applications, and network devices.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

Stax

MARCH 4, 2024

Taking precautions to implement security measures like firewalls and cybersecurity training helps to protect cardholder data and other sensitive information from cybercriminals. It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

PYMNTS

JULY 13, 2020

A popular brute force method used to accomplish this is credential cracking , which involves fraudsters using bots to automatically plug potential usernames and passwords into login screens in the hopes of stumbling across the correct credentials.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

FICO

OCTOBER 30, 2017

Due to the surge in data breaches, Social Security numbers, mailing addresses, passwords, health history, even the name of our first pet is all for sale on the Dark Web. Fraudsters use technology to implement bot net attacks that allow rapid exploitation of fraud control weaknesses before they are fixed.

Identity Theft 72

Identity Theft Account Takeovers Best Practices Data Breach 72

PYMNTS

DECEMBER 20, 2019

Shape, for its part, protects the biggest airlines, retailers, government agencies and banks with complex fraud, abuse and bot defense. Shape, in particular, protects against credential stuffing attacks in which cybercriminals take over online accounts with stolen passwords from third-party data breaches.

Security 52

Security Credential Data Breach Bots 52

Finovate

AUGUST 14, 2024

.” Credential stuffing refers to a type of cyberattack in which a hacker uses credentials obtained through data breaches or purchased from the dark web in order to attempt to access another service. “This view arms companies with a proactive, first line of defense to detect sophisticated fraud rings and bot attacks.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

PYMNTS

JANUARY 9, 2019

Stopping fraudsters can feel a bit like playing Whac-A-Mole for luxury retailers who want to protect customers and data, and no one wants to be the next retailer to experience a data breach or high-volume fraud attack. This is especially true as data breaches grow more common as eCommerce sales grow.

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

FICO

DECEMBER 13, 2017

We frequently talk about how PII data from data breaches is for sale on the dark web. I’m hoping to help level set for the non-techies: When we talk about brute force application fraud and bot-net attacks, what are we really talking about? How do the bad guys actually sell data from breaches on the dark web?

Bots 65

Bots Addressing Encryption Security 65

PYMNTS

FEBRUARY 6, 2019

“Automation, mini-bots, machine learning and adaptive intelligence are becoming part of the finance team at lightning speed,” concluded analysis from Accenture, reports in Forbes said last year. But analysts warn that accountants and corporate finance professionals cannot simply go with the status quo.

Accounts 74

Accounts Finance On-Demand Automation 74

PYMNTS

JUNE 26, 2018

Perhaps, to no surprise, data breaches keep executives up at night — and the rest of us, too. One survey by Kaspersky Labs , across 2,000 consumers, found that 81 percent of Americans and 72 percent of Canadians are “stressed” about breaches. Furthermore, the company said that bots are being used to abuse stolen credentials.

Account Takeovers 46

Account Takeovers Faster Payments Breach Credit Cards 46

PYMNTS

OCTOBER 23, 2017

If fraud attacks are the flu, then the Equifax data breach was a raging fever: a symptom (albeit a dramatic one) of a larger illness that will almost inevitably infect any organization that hasn’t had its shots. Bots are very efficient, and can be both a blessing and a curse – crack the code too efficiently, and it raises alarms.

Account Takeovers 53

Account Takeovers Accounts Cybersecurity Bots 53

PYMNTS

DECEMBER 13, 2019

According to one Mastercard study , about one-third of millennials and Gen Zers would let a bot plan their next trip in an automated fashion using data from their travel history. Platforms are doubling down on security in the wake of embarrassing data breaches and steady consumer fraud complaints, but it’s a fluid situation.

Fraud Detection 52

Fraud Detection Data Breach Bots BNPL 52

PYMNTS

JULY 21, 2020

They might hack databases to obtain information like consumers’ emails and phone numbers or they might find such information already available on the dark web from previous data breaches. Payment app customers might confirm their identities by having their smartphones scan their fingerprints, for example.

P2P 60

P2P Scams Security Account Takeovers 60

PYMNTS

JUNE 23, 2016

Carding may not be a new technique, but with the wealth of data floating around from larger data breaches and huge databases of compromised payment card data, it’s becoming a new favorite. It’s usually pretty organized,” Bush explained. Just to name a few.

Compromise 55

Compromise Database Breach IRS 55

Seon

JANUARY 29, 2024

In the worst-case scenario, stocks can even plummet after a publicized breach. Exploiting security vulnerabilities : This is where unpatched security holes are used to gain unauthorized access to a system. The finance department must fight chargebacks. Users turn to competitors due to a loss of reputation and brand trust.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

FICO

JUNE 20, 2019

The ‘want it now’ culture of today’s consumer means that the technologies we all love to use for their convenience make it easier for fraudsters to do what they do, e.g., bots designed to test login credentials or to generate customer orders using stolen or synthetic identities. An increasing amount of data breaches across all industries.

Account Takeovers 45

Account Takeovers Verification Data Breach Bots 45

PYMNTS

FEBRUARY 12, 2019

Now, different types of bots and scripts attack platforms, not one by one but thousands at a time,” he said. That all presents numerous challenges for any retailers interested in avoiding the bad PR, litigation and loss of revenue that typically follows a breach or hack.

Fraud Prevention 56

Fraud Prevention Rules Breach Bots 56

Seon

JUNE 21, 2023

As there is no physical reminder that this must be done with a virtual card, the theft or breach could potentially go unnoticed while exorbitant charges or snowballing data theft occurs. Multi-use VCCs : With low-friction onboarding, fraudsters may use bots to try and generate cards en masse.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

PYMNTS

NOVEMBER 27, 2019

Customers and retailers are not the only ones being targeted, either: Fraudsters are also using automated bots to trick advertisers into paying money for false marketing impressions. Cybercriminals are thus increasingly turning to online platforms to perpetuate card-not-present (CNP) fraud.

Point-of-Sale (POS) 60

Point-of-Sale (POS) AI Card Issuer Credit Cards 60

FICO

JUNE 20, 2019

The ‘want it now’ culture of today’s consumer means that the technologies we all love to use for their convenience make it easier for fraudsters to do what they do, e.g., bots designed to test login credentials or to generate customer orders using stolen or synthetic identities. An increasing amount of data breaches across all industries.

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

FICO

JUNE 20, 2019

The ‘want it now’ culture of today’s consumer means that the technologies we all love to use for their convenience make it easier for fraudsters to do what they do, e.g., bots designed to test login credentials or to generate customer orders using stolen or synthetic identities. An increasing amount of data breaches across all industries.

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

PYMNTS

DECEMBER 3, 2016

A bunch of internet-connected devices gone bad and loaded up with bot armies that started attacking those beloved consumer sites. This was one of many data breaches this year that was eye-catching, as hackers managed to implant malware, spearfish their way into systems and make off with all kinds of consumer data.

Payments 53

Payments Online and Mobile Banking PayPal Push-to-Card 53

PYMNTS

NOVEMBER 9, 2017

The executive said IntraNext isn’t fielding as many questions following the Equifax data breach as might be expected. Self-care, chat bots, artificial intelligence, and machine-to-machine learning is here to stay. Customers are not ready to make final decisions, and they certainly don’t want to make knee-jerk reactions.

Authentication 41

Authentication MFA Fraud Detection Security 41

Nanonets

AUGUST 16, 2024

This enables automated data entry processes that lead to faster document review, lower processing time, and enhanced customer experience. RPA bots can handle tasks like data entry , verification of claim details, updating status in the claims management system, and even communication with customers.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

PYMNTS

DECEMBER 2, 2019

The offering allows Ticketmaster users to register for early announcements about shows they may be interested in attending and then make purchases through unique access codes provided by the company to ensure that fans, not bots, are given the first chances to buy tickets. The program’s goal is twofold, Karyo said.

Point-of-Sale (POS) 52

Point-of-Sale (POS) Account Takeovers Credit Cards Duplicate 52

PYMNTS

APRIL 14, 2017

Wonga had a whopper of a week as a data breach may have affected a quarter of a million U.K. The personal data tied therein may have been lifted, giving a black eye to the payday lender that is known for interest rates on loans that top 1,200 percent. But Bixby also has three big advantages.

Online and Mobile Banking 40

Online and Mobile Banking Wire Transfer Federal Reserve Data Breach 40

PYMNTS

JULY 29, 2016

Bush recalled research showing over 700 million records were breached in 2015, 1.2 The data is out there — it’s good, it’s fresh and it’s being sold throughout the fraudster community, Bush pointed out. But the availability doesn’t just end with data breaches.

Online and Mobile Banking 42

Online and Mobile Banking Push-to-Card Mitigation Compromise 42

CB Insights

JULY 20, 2017

Others companies in this subcategory include Zenedge , which offers a cloud-based, AI-driven Web Application Firewall (WAF), malicious bot detection, and DDoS cybersecurity solutions.

Cybersecurity 30

Cybersecurity Security AML PCI DSS 30

PYMNTS

APRIL 24, 2018

If they’re using the same password for their bank account, said Shem-Tov, it takes the breach to a whole new level. Now the fraudster is not only able to make purchases with the breached account, they can also essentially steal all of that customer’s funds. Furthermore, they can enrich this data using social media accounts.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

JANUARY 21, 2020

Just when you think there are no surprises left, this statistic drops: 60 percent of organizations recently polled had no idea their customer data had been breached, because their payments system and process is too opaque to detect it. That’s surprising in 2020 – or maybe “shocking” better captures the vibe.

Fraud Detection 52

Fraud Detection FBI Bots AI 52

PYMNTS

DECEMBER 21, 2020

As the Tracker notes, a recent data breach of a mobile order-ahead app leaked 2.8 Preventing these breaches is getting easier via platforming. Meanwhile, Kount’s Event-Based Bot Detection can stop malicious bots, allow good bots and quickly analyze, classify and adapt policies to new and questionable bots.”.

Bots 60

Bots Fraud Detection Account Takeovers Breach 60

PYMNTS

NOVEMBER 11, 2016

Could Threat Intelligence Halt Data Breaches? The latest data from Imperva’s “ Combat Online Payment Card Attacks using Threat Intelligence ” report found that the total value of online credit card transactions at risk by 2020 will be $19 billion.

Cybersecurity 69

Cybersecurity Law Enforcement Data Breach Breach 69