Stax

APRIL 3, 2025

Payment processors that comply with this regulation protect businesses from data breaches and credit card fraud. If a hacker compromises the eCommerce site, they only access a useless token, instead of payment data. You can also add other security preferences like address verification (AVS) or card verification (CVV) checks.

Payment Solutions 88

Payment Solutions Payment APIs and Integration Payment Gateways Gateways 88

Fintech News

MAY 27, 2024

The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. As per IBM Security’s report, APAC bore the highest average cost of a data breach globally, averaging US$3.24 million in 2021.

APACS 114

APACS Data Breach FinTech Fraud Prevention 114

VISTA InfoSec

JUNE 3, 2024

Weak or compromised passwords are often the weak link in an organization’s security chain, providing an easy entry point for cybercriminals. According to a Verizon report , over 80% of hacking-related breaches are due to compromised passwords.

MFA 130

MFA Credential PCI DSS Compliance 130

PYMNTS

MARCH 6, 2018

After its point of sale (POS) systems were reportedly affected by malware designed to capture credit card information, RMH Franchise Holdings is warning that its Applebee’s restaurants in 15 states suffered a data breach. RMH became aware of the breach on Feb. 13 and “promptly took steps to ensure that it had been contained.”

Data Breach 56

Data Breach Breach Point-of-Sale (POS) Law Enforcement 56

Stax

DECEMBER 12, 2024

This encryption turns data into an unreadable format to prevent fraud and security breaches. With PCI-compliant systems in place, verification not only minimizes financial losses but also saves valuable time that could be better spent growing the business. eCommerce tech stack. Mobile payment solutions.

Small Business 88

Small Business Online and Mobile Banking Volume Checks 88

Nanonets

NOVEMBER 14, 2023

Business Email Compromise (BEC) is a cyber threat that exploits the vulnerabilities of email communication. Perpetrators impersonate trusted entities, such as executives or vendors, employing social engineering techniques to coerce employees into compromising actions. What is Business Email Compromise (BEC)?

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

PYMNTS

MAY 15, 2017

and Puerto Rico had their payment card information compromised. Any person shopping at both Brooks Brothers and Brooks Brothers Outlet stores between April 4, 2016, through March 1, 2017, may have been impacted by this breach. Over the past 11 months, Brooks Brothers ’ customers at various brick-and-mortar locations in the U.S.

Breach 46

Breach Compromise Social Security Payments 46

PYMNTS

FEBRUARY 10, 2020

Biometric digital identity verification solutions are becoming more and more commonplace thanks to their implementation in everyday devices like smartphones and fitness wearables. Biometric verification is being installed in payment cards as well. billion smartphones equipped with fingerprint recognition in the same timeframe.

Data Breach 94

Data Breach Point-of-Sale (POS) Push-to-Card Breach 94

Segpay

DECEMBER 13, 2024

Traditionally, organizations have employed a range of methods for identity verification, from passwords to multi-factor authentication (MFA) and, increasingly, biometric solutions. If a breach occurs, identity data, once compromised, is hard to restore.

Privacy 105

Privacy Compliance CCPA Authentication 105

Fintech News

APRIL 7, 2024

This burgeoning technology, characterized by its ability to create indistinguishably fraudulent audio and visual content, not only complicates the process of identity verification but also emboldens cybercriminals, precipitating substantial financial losses. ” says Wells.

Deepfake 133

Deepfake Scams Fraud Detection Verification 133

PYMNTS

JULY 24, 2020

In a post on its website, Instacart said its investigation concluded the San Francisco-based company was not compromised. It appears that third-party bad actors were able to use usernames and passwords that were compromised in previous data breaches of other websites and apps to login to some Instacart accounts,” Instacart wrote. “In

Accounts 75

Accounts Compromise Data Breach Phishing 75

PYMNTS

FEBRUARY 19, 2019

With a wealth of stolen credentials to pick from in the wake of several data breaches that comprised the identities of millions, fraudsters have more resources than ever. With fraudsters getting bolder, banks, retailers and consumers are recognizing that stronger verification is now a necessity. Fraud is rampant and thriving.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

Payments Source

JANUARY 25, 2018

There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.

Bots 70

Bots Breach Compromise Accounts 70

PYMNTS

JUNE 29, 2020

Open banking comes with security risks, however, as a hacker that manages to breach an open banking API can hijack all of the apps that harness this interface to gather data. The most popular technique, credential abuse, involves fraudsters using compromised passwords and other login information to gain access to sensitive systems.

MFA 96

MFA Risk Security API 96

VISTA InfoSec

SEPTEMBER 5, 2024

The importance of cyber security for SMEs As small and medium enterprises (SMEs) often become prime targets for cyber attacks, resulting in significant financial losses and data breaches, the importance of cyber security cant be emphasized enough. The rise of social engineering tactics further complicates the cyber security landscape.

Security 130

Security Phishing Ransomware Risk Assessment 130

VISTA InfoSec

OCTOBER 21, 2024

The importance of cyber security for SMEs As small and medium enterprises (SMEs) often become prime targets for cyber attacks, resulting in significant financial losses and data breaches, the importance of cyber security can’t be emphasized enough. The rise of social engineering tactics further complicates the cyber security landscape.

Security 130

Security Phishing Ransomware Risk Assessment 130

VISTA InfoSec

NOVEMBER 7, 2023

In essence, MFA requires multiple verification steps before an action is authenticated. How Multi-Factor Authentication Works MFA operates on a simple principle: to verify identity through multiple verification methods. System verification : The system checks the entered credentials. If correct, it triggers the MFA process.

Authentication 130

Authentication MFA Cybersecurity Credential 130

Fintech News

JANUARY 17, 2024

7 trends that will shape the fraud and identity landscape in 2024 by LexisNexis Risk Solutions By combining real personal data leaked from breaches with AI-fabricated information, fraudsters can rapidly generate fake but credible identities.

Deepfake 122

Deepfake APACS Scams Authentication 122

PYMNTS

OCTOBER 14, 2016

The new group, called Odinaff, is believed to be compromised of 10–20 organizations armed with malware that can hide fraudulent transfer requests in the SWIFT system. The emergence of new possible instances of compromise is not entirely surprising given that banks should now be undertaking rigorous reviews of their environments.

SWIFT 75

SWIFT Compromise Cybersecurity Data Breach 75

PYMNTS

JULY 31, 2018

mobile phone and electronics retailer, disclosed on Tuesday (July 31) an update on a data breach in which it found unauthorized access in the past to some of its data. What’s more, it said there is no evidence there was any fraud as a result of the data breach. Dixons Carphone, the U.K. Fortunately, 5.8

Data Breach 40

Data Breach Breach CHIPS Cybersecurity 40

PYMNTS

MARCH 2, 2018

Like breaches , for example. Thursday was the same day the company said that more individuals in the United States were hit by last year’s data breach than had been initially estimated. That’s a lot of compromised data, of course. million, boosted by verification services, which gained 11 percent from last year to $126 million.

Breach 41

Breach Data Breach Identity Theft Data Security 41

PYMNTS

APRIL 5, 2019

AeroGrow explained that customers who bought something through its website between October 29, 2018 and March 4, 2019 had their credit card number, expiration date and card verification value (the security code) stolen by the malware. ” This is the latest malware attack on a company.

Credit Cards 63

Credit Cards Law Enforcement Compromise Data Breach 63

PYMNTS

OCTOBER 8, 2018

The drill is well-known now, with a litany of familiar names amid data breaches. With such methodologies afoot, the traditional models of ID verification fall by the wayside, he told Webster. The problem is that the data has been compromised,” said Trilli. Want to know the best approaches to identity verification?

Identity Theft 71

Identity Theft Verification Database Authentication 71

PYMNTS

SEPTEMBER 30, 2016

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S.

Security 76

Security Breach Data Breach Cybersecurity 76

PYMNTS

NOVEMBER 2, 2016

is a particular target for data breaches that involve compromised employee account data. government is reportedly gearing up to spend close to £2 billion over the course of the next five years to fight the growing number of cyberattacks in the country. According to a report , research suggests the U.K. million cases of cybercrime.

Cybersecurity 68

Cybersecurity Data Breach Phishing Compromise 68

PYMNTS

MARCH 14, 2017

Though money laundering is a dangerous and enormous aspect of fraud, it’s often overshadowed by high-profile data breaches and other cybercrime activities. Essentially, the identity verification process can be a major friction point. Why Good Processes Alone Can’t Make AML Stick. In the U.S.

AML 44

AML Verification Money Laundering Authentication 44

Clearly Payments

JANUARY 8, 2024

Security, Compliance, and Regulatory Risk: Cybersecurity risk involves the threat of data breaches and unauthorized access to sensitive payment information. The first step is implementing robust authentication processes, including multi-factor authentication, biometric verification , and tokenization , to enhance user access security.

Risk Management 97

Risk Management Risk PCI DSS Process 97

FICO

DECEMBER 19, 2016

With hackers hitting organizations from the Internal Revenue Service to the University of California, Berkeley in 2016, consumers are more anxious than ever about the downstream financial crime that follows data breaches. In the aftermath of the compromise of 5.6 Recovering from compromised biometric intel is very challenging indeed.

Office of the Comptroller of the Currency 82

Office of the Comptroller of the Currency Cybersecurity Identity Theft Compromise 82

PYMNTS

AUGUST 7, 2020

The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud. These methods could be especially useful for online age-verification processes, as biometric measures are highly accurate and difficult to fake. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

JUNE 23, 2020

The tokenized credentials cannot be stolen or compromised, which makes digital payments safer for consumers and merchants. That’s because at the most basic level, a simpler verification experience leads to higher buyer conversions, fewer false positives and a more streamlined checkout process. Tokenization’s Impact On Conversion.

Credential 110

Credential Issuers Breach RTP 110

The Fintech Times

SEPTEMBER 25, 2024

This approach seeks to balance the needs of both landlords and tenants, helping real estate agents close deals faster without compromising on payment preferences. We also get to close more deals faster, as Keyper can breach the gap on payment terms.”

Debit Card 64

Debit Card Payments Compromise Breach 64

PYMNTS

OCTOBER 26, 2016

From Wi-Fi hotspots to printers, unsecured routers to digital video recorders — connected devices can be vulnerable to hacks and, when compromised, are being used by hackers to launch significant distributed denial-of-service (DDoS) attacks. Going Beyond PCI.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

JUNE 7, 2016

Social networking site VK.com is the latest victim in a string of targeted data breaches that have hit a host of other social media outlets such as LinkedIn, Tumblr and Myspace. For security reasons, we recommend enabling 2-step verification in profile settings and using a strong password.” million accounts.

Accounts 43

Accounts Data Breach Database Breach 43

Fintech Finance

NOVEMBER 6, 2024

Tighter Security: By offering biometric authentication, payment passkeys eliminate the risk of passwords being stolen or compromised, protecting shoppers from fraud and scams. Instead of stressing over payment safety, merchants can free up time to focus on customer care and product development to build deeper trust with their customers.

Visa 98

Visa APACS Transactions Authentication 98

PYMNTS

SEPTEMBER 17, 2018

In Australia, news came that police have charged a quartet of alleged fraudsters with running a business email compromise (BEC) scam. Over the last 10 to 15 years, the CIS has gathered data about the controls that would significantly reduce the likelihood of a data breach, if implemented. ” The Larger Trends. “We

Business Email Compromise 61

Business Email Compromise Email Compromise Scams Compromise 61

PYMNTS

JUNE 25, 2018

It’s much more straightforward for a criminal to compromise someone’s payment account that could be linked to a credit card than for them to try to steal or gain access to use that credit card,” Endler said, adding that the tools that make these attacks possible are “accessible to people who don’t necessarily have a lot of technical acumen.”.

Account Takeovers 46

Account Takeovers Breach Compromise Payments 46

PYMNTS

AUGUST 21, 2018

When it comes to the bond between consumer and financial services, no doubt the relationship is a bit, well, frayed in the age of data breaches and the Dark Web. In the latest Data Drivers, Karen Webster and Philipp Pointner, chief product officer at Jumio , delved into some scary data points surrounding those aforementioned breaches.

Data Breach 42

Data Breach Breach Laws Authentication 42