Payments Source

SEPTEMBER 13, 2017

The breach may result in a huge new dump of names, addresses, Social Security numbers, and other personal information that fraudsters can leverage to gain access to a legitimate user’s account, writes Jason Tan, CEO of Sift Science.

Breach 63

Breach Social Security Addressing Accounts 63

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. Take Marriott , which is still dealing with the fallout of a breach that left the data of 500 million rewards customers exposed. Inverting the Fraud Approach.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

Segpay

NOVEMBER 26, 2024

The Importance of Reliable Digital Identity Verification In a digital world, ID verification is a trust-building mechanism that protects both the user and the organization. Proper digital identity verification tools help protect sensitive data from unauthorized access and security breaches.

Verification 88

Verification Identity Theft Money Laundering Due Diligence 88

PYMNTS

JANUARY 2, 2019

Warby Parker contacted law enforcement when it found out about the breach. One of the biggest problems with these types of data breaches is that many users repeat passwords over many sites, and when information is stolen from one company, it can often be used by another. Warby Parker said that is what happened with this breach.

Cybersecurity 74

Cybersecurity Accounts Identity Theft Law Enforcement 74

PYMNTS

JANUARY 27, 2017

Eric Chiu, cofounder and president of HyTrust , joined this week’s Hacker Tracker to share insights on the SEC examining the Yahoo breaches, why a selfie app may cause more harm than good and how the U.S. Yahoo disclosed a breach of 500 million users’ data in Sept. America’s Data Breach Problem. SEC Keeps An Eye On Yahoo.

Data Breach 71

Data Breach Breach Security Risk 71

VISTA InfoSec

JULY 5, 2023

Adherence to these regulations is paramount for safeguarding sensitive patient information from data breaches and cyber attacks. With the proliferation of people paying hospital bills and health insurance using credit and debit cards, the risk of identity theft has also augmented exponentially! million people.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

PYMNTS

MAY 10, 2019

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 million records. businesses. businesses.

Data Breach 46

Data Breach Breach Identity Theft Law Enforcement 46

PYMNTS

FEBRUARY 22, 2018

Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 Al Pascual, Javelin’s research director and head of fraud and security, expects 2018 to be another record year. That fraud run saw $16.8 They’re smarter now. billion last year.

Identity Theft 56

Identity Theft Account Takeovers Push-to-Card Social Security 56

PYMNTS

JUNE 3, 2019

million were compromised and exposed in a data breach of an agency that collects money for Quest Diagnostics and UnitedHealth Group, according to a report by Bloomberg. Quest revealed the information in a securities filing. Patient records numbering around 11.9

Compromise 53

Compromise Identity Theft Data Breach Breach 53

PYMNTS

FEBRUARY 21, 2018

After the Mueller indictments, do banks’ “day zero” identity verifications need a makeover? We’re referring, of course, to the act of opening a bank account from scratch, from the beginning – providing everything from name, address, Social Security number, identity documents and the like….

Identity Theft 40

Identity Theft Rules Verification Accounts 40

PYMNTS

DECEMBER 10, 2019

More than 446 million consumer records were exposed in data breaches in 2018, an increase of 126 percent compared to 2017, according to a 2018 Identity Theft Resource Center report. In the case of synthetic identity theft, the devil is in the details,” said Barnhardt.

Fraud Detection 63

Fraud Detection Data Breach Identity Theft Social Security 63

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. And in terms of the data that was taken, hackers accessed driver’s license data but not Social Security numbers. million, up 2.4

Breach 41

Breach Data Breach Identity Theft Data Security 41

PYMNTS

OCTOBER 30, 2018

Looking at research from the Identity Theft Resource Center, QuickBridge pointed to small businesses in the healthcare, banking and finance, and retail sectors as particularly popular targets for cyberattackers.

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

EBizCharge

MARCH 18, 2024

From names and addresses to medical insurance and social security, this information must be handled with the utmost care to ensure privacy and security. The breach notification rule requires entities to notify affected individuals and the Department of Health and Human Services (HSS) following a breach of unsecured PHI.

Venmo 52

Venmo Zelle Identity Theft Privacy 52

PYMNTS

DECEMBER 28, 2016

Verizon is expected to move ahead with its acquisition of Yahoo’s core assets even after Yahoo disclosed another massive data breach potentially impacting millions of consumers. The Identity Theft Resource Center, which Bloomberg cited in its report, pegs the number of data breaches in the U.S.

Identity Theft 43

Identity Theft Data Breach Breach Social Security 43

PYMNTS

DECEMBER 13, 2019

Payroll information for tens of thousands of Facebook employees, including banking information, names, bank account numbers and the last four digits of Social Security numbers, was stolen from an employee’s car in an apparent smash and grab, according to a report by Bloomberg. .

Payroll 52

Payroll Identity Theft Law Enforcement NOV 52

PYMNTS

FEBRUARY 6, 2018

News Monday that the Consumer Financial Protection Bureau has walked back from a full-tilt investigation into the Equifax breach brought to mind the personal data of hundreds of millions of people that is now floating across the Badlands of the Dark Web. In fact, the dates of death preceded the dates of the credit applications.

Identity Theft 48

Identity Theft Social Security Addressing Consumer 48

PYMNTS

DECEMBER 23, 2019

In synthetic identity theft, she explained, the fraudster is still pretending to be someone they are not, but the difference is that they aren’t so much imitating an existing person as creating one. Is the Social Security number associated with a person who is both alive and over the age of 18?

Social Security 52

Social Security Identity Theft Wire Transfer Security 52

Exact Payments

JULY 1, 2024

By Jeremy Smillie, VP of DevSecOps at Exact Payments In an era where data breaches are not just threats but realities, protecting Personally Identifiable Information (PII) is more crucial than ever. Cookies often contain session data that can authenticate a user to a website, and securing these is crucial to preventing identity theft.

Data Security 52

Data Security Security Encryption Payment APIs and Integration 52

PYMNTS

JULY 28, 2020

Traditional fraud-fighting methods can fail to detect this subtle form of deception, in which criminals cobble together details from numerous consumers to create unique identities. Cybercriminals often use these identities to set up bank accounts and apply for credit cards and loans. billion from the nation’s consumers in 2018.

Online and Mobile Banking 53

Online and Mobile Banking Social Security Identity Theft Fraud Detection 53

PYMNTS

OCTOBER 12, 2018

The only good thing about an ongoing parade of data breaches and innovative attempts at identity theft is that it can be incredibly persuasive when it comes to the importance of making the payments process more secure. And if that isn’t buttoned up, fraudulent payments will happen time and time again,” he said.

Faster Payments 73

Faster Payments Authentication Payments Enrollments 73

PYMNTS

SEPTEMBER 18, 2017

What to do in the wake of the Equifax breach: Run? As Topic TBD host Karen Webster posited to Stuut, the breach may be to authentication what Target’s own data theft woes were to EMV: the catalyst for immediate change. Freeze credit? That’s just on the consumer side, and none of them are delightful choices. . Think scale.

Breach 46

Breach Identity Theft Credential Authentication 46

PYMNTS

OCTOBER 23, 2018

One is the increasing prospect of fraud, of criminals breaking into healthcare IT systems in search of patient data, the scope of which can enable identity theft in ways that are relatively easier than in other sectors. That said, the move to digital can spark new challenges for medical offices.

Identity Theft 69

Identity Theft Blockchain Credit Cards Data Breach 69

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.

Risk Management 68

Risk Management Risk PCI DSS Process 68

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. The Importance Of AI.

Fraud Detection 43

Fraud Detection Data Breach Account Takeovers Breach 43

Stax

NOVEMBER 27, 2023

Of course, financial criminal activity doesn’t have to just lead to monetary loss—it could also lead to a data breach of customer information. Introduce the customer identification program (CIP) Basically, the CIP requires that companies get four pieces of identifying information about their client for identity verification.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

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.

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. Yet those nine numbers have become a standard bearer for identity verification, a gold mine for fraudsters – maybe rendered moot by the huge breaches at Equifax and other companies. Let’s not pick solely on the SSN.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

Fintech Labs Insights

JUNE 22, 2015

But last week BillGuard demonstrated a promising new avenue for incremental fee income: integrated mobile identity theft alerts, resolution and insurance ( see inset ). The c redit and fraud monitoring is powered by CSIdentity (CSID), an Austin-based firm that says it powers 80% of the retail identity theft protection industry.

Identity Theft 26

Identity Theft Online and Mobile Banking Non-Bank Debit Card 26

FICO

OCTOBER 7, 2022

As it happens, buy now, pay later (BNPL) breached the $100 billion in mark in 2020 and soared to $157 billion in 2021 , according to FICO partner Worldpay. Fri, 10/07/2022 - 14:10. This headline a year ago left me scratching my head: “ How buy now, pay later became a $100 billion industry.”

BNPL 52

BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52

PYMNTS

JUNE 1, 2017

For instance, social media scored low on the confidence scale, meaning users felt their information was not secure on these platforms … yet that’s where people posted the most personal information that can be used for identity theft. Consumers have very high expectations that organizations will secure them,” Grant said.

Security 72

Security Identity Theft Online and Mobile Banking Breach 72

PYMNTS

JUNE 21, 2016

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. The company noted that the breach has been reported to its credit card processor along with federal law enforcement officials. Canada and Puerto Rico, according to a letter from the company.

Compromise 42

Compromise Identity Theft Federal Trade Commission Credential 42

PYMNTS

MARCH 1, 2019

Equifax’s expansion of small business credit scoring data services followed a class action lawsuit filed in 2017 by small business owners related to its massive data breach that year. ” . ”

Small Business 47

Small Business Identity Theft Breach Data Breach 47

PYMNTS

FEBRUARY 28, 2019

Equifax CEO Mark Begor revealed that he has been the victim of identity theft three times in the past 10 years during a privacy hearing on Tuesday (February 26). In 2017, Equifax suffered a massive data breach that exposed the personal data of 143 million consumers in the U.S., Begor made the confession after U.S.

Identity Theft 77

Identity Theft Data Breach Social Security Breach 77

PYMNTS

JANUARY 24, 2017

Train your eye on cybersecurity and data breaches, and more is certainly something no firm wants to experience. Breaking down that tally, the business sector was the focus of about 45 percent of breaches. Health care and medical services, grouped together, were 34 percent of breaches. And yet, hope cannot trump experience here.

Data Breach 44

Data Breach Breach Identity Theft Phishing 44

PYMNTS

FEBRUARY 19, 2018

That’s because the indictments allege malfeasance that spans online transactions, banking and the ever-present specter of identity theft. The data breached and the data appropriated seem familiar enough. Birth dates, Social Security numbers, bank accounts — all wend their way through dark channels on the web.

Identity Theft 48

Identity Theft Risk Online and Mobile Banking PayPal 48