PYMNTS

JUNE 6, 2016

Reports of data breaches and cyberattacks are serious, but what happens when those claims are untrue? According to Krebs on Security , last week, several identity theft protection companies incorrectly named Dropbox as the source of a data breach that compromised nearly 73 million usernames and passwords.

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Data Breach Breach Identity Theft Compromise 42

PYMNTS

MARCH 16, 2017

The Department of Justice bringing charges against two spies in Russia and two hackers who allegedly took part in the massive data breach that rocked Yahoo recently has now shed light on exactly how these breaches took place. According to Palmore, that initial breach eventually led the exposure of more than 500 million user accounts.

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PYMNTS

JUNE 21, 2016

Computer manufacturer Acer announced that hackers may have stolen the payment credentials of thousands of its customers. The company notes that the credentials may have been breached by a third party between the dates of May 12, 2015 and April 28, 2016. Canada and Puerto Rico, according to a letter from the company.

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Compromise Identity Theft Federal Trade Commission Credential 42

PYMNTS

JANUARY 23, 2020

billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.

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Phishing Data Breach Breach Scams 64

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

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PYMNTS

MARCH 29, 2017

Online retailers just got a new tool in the fight against identity theft and fraud. XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows.

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Fraud Prevention Identity Theft Account Takeovers Data Breach 40

Seon

JANUARY 29, 2024

In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials. It is also considered a form of identity theft, because it happens when someone logs into an account that isn’t theirs to exploit it. What Is Account Takeover Fraud?

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Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

JANUARY 27, 2021

Some cybercriminals steal other individuals’ identities, while others construct new ones for synthetic identity fraud. The Federal Reserve determined that synthetic identity fraud costs FIs $6 billion annually , with each incident costing lenders between $10 and $15,000.

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Innovation Security Bots Identity Theft 85

PYMNTS

AUGUST 24, 2018

Identity theft has become a pervasive threat in the marketplace sector, particularly as fraudsters develop additional tools and techniques in their quests to commit cybercrime. Breaches and fraud attacks don’t just cost companies in stolen revenue, however. Fighting Fraud. Approximately 31.7 Approximately 31.7

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Identity Theft Data Breach Payments Credential 43

FICO

MARCH 6, 2017

Criminals are looking to gain financially in three main ways: Data breaches to feed identity theft. Third-party fraud is fuelled by identity theft, and breached data gives criminals the information they need to take over someone’s identity. Cyber-attacks with financial demands.

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Identity Theft Breach Data Breach Phishing 65

PYMNTS

SEPTEMBER 19, 2019

The threat of a data breach is now an ever-present part of life for customers and the banks that serve them. A reported 3,813 data breaches across a number of industries — collectively exposing 4.1 billion stolen credentials. billion stolen credentials. AI, ML Innovations Necessary to Stop Account Opening Fraud.

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AI Accounts Data Breach Credential 57

FICO

MAY 15, 2018

As a drumbeat of data breaches becomes the new reality — 42% of organizations breached in 2017 were breached in the past — it’s easy for consumers to throw up their hands and brace themselves for becoming a victim of identity theft or other financial crime. Four Steps to Protect Yourself from Charity Fraud.

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IRS Data Breach Identity Theft Breach 63

Stax

JULY 16, 2024

Compliance with PCI Data Security Standard regulations prevents shortcomings and vulnerabilities in payment processing, thereby reducing the risk of fraud, identity theft, and cyberattacks. Of course, their access and credentials need to be checked and corrected periodically. This is why PCI DSS compliance is critical.

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PCI DSS Compliance Credit Cards Encryption 88

PYMNTS

SEPTEMBER 18, 2017

What to do in the wake of the Equifax breach: Run? In our latest Topic TBD, Jumio CEO Steve Stuut says it’s all about finding a digital identity anchor that will help reduce the risk of those decisions. . As for Jumio, said Stuut of the Equifax (and other breaches), “I hate to say it is a market driver for us, but it is.” .

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Breach Identity Theft Credential Authentication 46

PYMNTS

JANUARY 20, 2020

Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Companies have implemented measures to hinder the creation of synthetic identities, but cybercriminals have responded by making them more robust.

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Identity Theft Fraud Prevention AI Scams 54

PYMNTS

OCTOBER 26, 2016

With massive cyberattacks like the recent Yahoo data breach — which compromised the personal data of an estimated 500 million user accounts — it’s clear that payment data isn’t the only information that needs to be protected. to provide additional layers of security. Covering All The (Data) Bases.

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PYMNTS

FEBRUARY 21, 2020

Criminals might use faked credentials to sign up for monthly purchasing plans, gain services for 30 days, and then vanish once the first bill arrives. Business identity theft is used to launch everything from purchasing plan scams to tax and credit card application fraud, and it caused an estimated $137 million in damages in 2017.

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B2B Scams Credential B2C 61

PYMNTS

APRIL 6, 2017

ID.me’s stance is simple: The identity ecosystem should be organized around the person, not around enterprises, and certainly not around a philosophy that perpetuates making passwords harder for everyone to remember. Ownership is what deals with identity, and the locks are who has delegated access on behalf of that identity. “If

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Authentication Verification Credential Identity Theft 48

Finovate

AUGUST 14, 2024

Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential. “Identity verification isn’t a one-time event. Johnny Ayers is Socure’s founder and CEO.

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Credential FinTech Deepfake Fraud Detection 64

PYMNTS

MAY 6, 2020

Fraudsters can also carefully hoard a cache of stolen bank account data, credit and debit card information, Social Security numbers and other details to impersonate legitimate customers, using these details outright or cobbling them together to perpetrate identity theft, new account fraud and gain entry to other platforms.

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PYMNTS

MAY 15, 2018

Their goal is to trick businesses into thinking they are legitimate customers so they can leverage credentials and money that aren’t truly theirs. This is why identity verification (IDV) is so important – but it’s also complex and difficult to execute well. Plus, data breaches have left a lot of those security responses exposed.

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PYMNTS

MARCH 29, 2018

As it turns out, these breaches are expensive. It’s one thing to confirm that a consumer is who he says he is, but it’s an entirely different matter to ensure that consumer is authorized to use the account, payments credentials or profile data he is presenting — and to verify that usage is in pursuit of a legitimate business purpose.

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Authentication Risk Compliance Database 43

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. Security, Compliance, and Regulatory Risk: Cybersecurity risk involves the threat of data breaches and unauthorized access to sensitive payment information.

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Risk Management Risk PCI DSS Process 69

Seon

JUNE 15, 2023

Despite its versatility, BEC invariably involves the misuse of compromised login credentials, with the aim of accessing sensitive information located in various business accounts (not just email inboxes – fraudsters also target intranet documents, HR records, and plenty of other sensitive archives). Let’s take a look at some of the key ones.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

FEBRUARY 20, 2019

A single data breach in 2017 exposed 143 million Americans’ credit details and personal information, and incidents that occurred a year later hit companies like Facebook, Google and Quora, affecting 100 million people. The numbers just keep adding up. Because fraudsters are raising their chickens. Everyone’s been comprised,” Chu noted.

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PYMNTS

MAY 5, 2017

It’s been a big week in the broader cybersecurity realm, starting with a data breach of Sabre Corporation’s hospitality unit. The DoJ has since charged the man with one count of money wire fraud, three counts of money laundering and one count of aggravated identity theft. Ransomware, Cyberespionage On The Rise.

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Breach Business Email Compromise Data Breach Cybersecurity 45

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical.

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Identity Theft Account Takeovers FTC Phishing 69

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. This is especially true if the VCC user decides to opt out of notifications associated with their virtual card use.

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Credit Cards Risk Online and Mobile Banking Phishing 52