PYMNTS

AUGUST 10, 2017

The more individuals leave a trail of information across websites, the more tempting the targets are for hackers to make off with everything from Social Security numbers to health care information. Your security question with your dog’s name? The more business is done online, the more fraud makes inroads. They ain’t cutting it.

Social Security 53

Social Security Security Credential Authentication 53

PYMNTS

MAY 15, 2017

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. At this time, the company has not disclosed the number of accounts impacted.

Breach 46

Breach Compromise Social Security Payments 46

PYMNTS

FEBRUARY 27, 2018

But workplaces aren’t the only entities considering a change to authentication or verification procedures. Several nations around the world are reconsidering their approach to security and national identity systems. Social Security number as an identifier. citizens to open bank accounts.

Social Security 44

Social Security Security Authentication Governance 44

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

PYMNTS

NOVEMBER 13, 2018

Maybe so, in the quest for digital identity verification. The Wall Street Journal reported Monday (Nov 12) that a number of banks, ranging from JPMorgan Chase & Co to Citigroup , are eyeing partnerships with a series of government agencies in a quest to make digital ID verification a bit more streamlined and accurate.

Social Security 51

Social Security Verification Data Breach Blocks 51

PYMNTS

AUGUST 8, 2019

You can thank the information stolen during data breaches for that, he said: “They essentially were working from an answer key.”. As Meier told it to PYMNTS, that provides an opening for a concept called gradual verification. This is not Cognito’s first attempt to add strength to digital ID and verification by using a newer approach.

Security 58

Security Verification Online and Mobile Banking Breach 58

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

FICO

JULY 7, 2020

Beware of people claiming to be part of reputable organizations, like research firms or government agencies, asking you for personal information like bank card numbers or your Social Security number. Use the help offered by breached organizations. Fake Profiles. In one example of this attack, criminals impersonate the U.S.

Scams 97

Scams Smishing Phishing IRS 97

PYMNTS

JUNE 16, 2019

After the massive Equifax data breach , a federal watchdog is warning the government against relying on credit agencies to verify the identifies of individuals using its services. However, data stolen in recent breaches such as the 2017 Equifax breach could be used fraudulently to respond to knowledge-based verification questions,” GAO wrote.

Posting 43

Posting Verification Breach Data Breach 43

PYMNTS

NOVEMBER 6, 2019

Verification Relies on Existing Information . Identity verification is crucial for any financial product, but it is especially so for one involving loans, as botching authentication methods could lead Affirm to charge either a phantom or the wrong person, having its money vanish into the ether. “The Fraud Faces the Machine.

Verification 40

Verification Fraud Prevention Authentication Credit Cards 40

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

DECEMBER 3, 2019

Digital identities are growing more important and omnipresent in everyday life, and the need to keep them secure grows more pressing by the day. Financial information, Social Security numbers and a host of other private data is wrapped up in each person’s digital identity, making a potential data breach catastrophic.

Verification 52

Verification Authentication Breach Data Breach 52

PYMNTS

APRIL 30, 2019

We at PYMNTS come here not to bury biometrics, but to explore another way of bringing identification and age verification to the masses — a method that, in the view of Alain Meier, CEO of Cognito , could help eCommerce operators stay ahead of regulators and otherwise offer relatively friction-free authentication to consumers around the world.

Verification 64

Verification Authentication Online and Mobile Banking Law Enforcement 64

PYMNTS

JUNE 11, 2019

Phone numbers, email addresses, usernames and other online signifiers have become vital to digital identity verification, as the world becomes increasingly connected. How Western Governors University handles Digital ID Verification. Deep Dive: Balancing Security and Convenience in Digital Identities.

Verification 58

Verification Authentication Blockchain Addressing 58

PYMNTS

OCTOBER 7, 2019

If we had a data breach, it [would] probably mean [we’d be] out of business,” said Caton Hanson, Nav’s co-founder and chief legal officer. As part of the sign-up [process], the user provides us with [their] full name, address and Social Security number.

Verification 40

Verification Authentication Small Business Checks 40

PYMNTS

JULY 15, 2020

With data showing that 45 percent of all 2019 data breaches — and there were a lot of them — involved medical records theft, costing healthcare providers $429 per compromised patient record or nearly $18 billion, organizations can’t be confused about their value to cyberthieves. Medical Records = Dark Web Gold.

Data Breach 58

Data Breach CCPA Social Security Breach 58

PYMNTS

SEPTEMBER 22, 2017

The Equifax breach lingers like the remnants of a bad lunch, making us all feel queasy about which data has been compromised and who just might be developing new ways to trick us out of money or privacy — now and in the future. We employ a large team of verification experts to visually inspect suspect verification requests.

Online and Mobile Banking 56

Online and Mobile Banking Verification Data Breach Breach 56

PYMNTS

AUGUST 7, 2019

The digital ID industry is devoting an immense amount of effort and capital to protecting digital identities as data breaches and privacy concerns continue to make headlines on a regular basis. Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government.

Multifactor Authentication 47

Multifactor Authentication Governance Government Data Breach 47

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 68

Risk Management Risk PCI DSS Process 68

PYMNTS

MAY 22, 2020

Banks must instead leverage multilayered defenses that harness employee and customer education, ironclad verification and artificial intelligence (AI)-enhanced fraud detection systems to keep customers’ money and personal data safe. Understanding the Scope of Financial Crimes.

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

PYMNTS

JULY 28, 2020

Fraudsters could pair one individual’s Social Security number with another’s passport information, for example — and these IDs can include some fake details as well. . Cybercriminals often use these identities to set up bank accounts and apply for credit cards and loans.

Online and Mobile Banking 53

Online and Mobile Banking Social Security Identity Theft Fraud Detection 53

PYMNTS

DECEMBER 3, 2018

A consumer who tries to make an online purchase of eCigarettes might be asked to prove their age by — depending on the retailer — submitting a scan of their driver’s license, for instance, or entering the last four digits of their social security number, with that merchant then doing a background check.

Authentication 70

Authentication Privacy Checks AI 70

PYMNTS

SEPTEMBER 28, 2017

But in the world of identification fraud, there’s a greater sea change afoot, one that stretches farther than the impact on any one firm, or even the millions of adults targeted in the most brazen of breaches. This estimate was made well before the costs of the Equifax breach, though, so plan on the actual figure being quite a bit higher.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

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

NOVEMBER 15, 2017

Put another way, and to paraphrase a hockey great: When it comes to identity verification and the technology that comes with it, FIs need to skate where the technology is headed, not where it has been. It makes us comfortable with new ways of authentication and new ways of verification.”.

Verification 40

Verification Authentication Online and Mobile Banking Enrollments 40

Basis Theory

NOVEMBER 12, 2024

Today, we can tokenize anything from credit card primary account numbers (PAN) to one-time debit card transactions or social security numbers. The token vault offers a secure and PCI-compliant location to store original data (e.g., credit card or social security numbers).

Encryption 88

Encryption Payment APIs and Integration PCI DSS Returns 88

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

MARCH 1, 2018

We all know that in the wake of the Equifax breach , no data is safe. That statement is compounded by the breaches that came before Equifax’s headline-grabber and the breaches yet to come. That statement is compounded by the breaches that came before Equifax’s headline-grabber and the breaches yet to come.

Push-to-Card 40

Push-to-Card Breach Compromise Authentication 40

PYMNTS

MAY 31, 2018

As data breaches pile up, it’s more likely than not that any given individual’s sensitive information is floating around somewhere out there on the dark web. A multi-channel, multi-factor process can provide definitive security advantages, Kilb said, even without any stored consumer data. Secure Signaling.

ATM 43

ATM Consumer Data Breach Credential 43

PYMNTS

JULY 27, 2020

Where Standard ID Verification Falls Short. Troves of personal data are publicly available on social media or have been leaked from data breaches, Kelly noted, making it easy for bad actors to provide seemingly valid information. Device Authentication.

Credit Union 58

Credit Union Authentication Credential Assessments 58

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

AUGUST 15, 2019

In the days before eCommerce, before data breaches grabbed everything from Social Security numbers to passwords, before fraudsters began to craft synthetic identities, strong customer authentication was rather simple. Although delayed, the migration will take place.

Authentication 53

Authentication Compromise Addressing Regulations 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…. In the U.S., Think again.

Identity Theft 40

Identity Theft Rules Verification Accounts 40

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

PYMNTS

JANUARY 17, 2017

That, Ayers said, also makes reliance on traditional identifiable data, such as dates of birth, Social Security numbers (SSNs) and even addresses, not as useful for identifying millennials. But, Webster questioned, can a longstanding phone number really play the same verification role as an SSN?

Verification 45

Verification Addressing Online and Mobile Banking Authentication 45

PYMNTS

JULY 9, 2018

Between the Equifax hack last year, the Exactis hack last month and the thousands of other data breaches, big and small, that happened between them (not to mention before them), the average American consumer can rest assured that some or all of their personal data is floating around the dark web these days.

Fraud Detection 44

Fraud Detection Enrollments Addressing Verification 44

PYMNTS

AUGUST 22, 2018

Earlier this month, cable company Comcast Xfinity was in the news for accidentally exposing partial home addresses and Social Security numbers of more than 26 million customers, according to reports, thanks in large part to a trio of security loopholes. Around The Digital Identity World.

Fraud Prevention 40

Fraud Prevention Security Social Security Encryption 40