The Payments Association

DECEMBER 9, 2024

These capabilities make LLMs ideal for real-time fraud detection, transaction monitoring, and identity verification, helping payment providers stay one step ahead of fraudsters and ensuring a more secure financial ecosystem. This is where AI shines, as it can rapidly analyse vast amounts of data to detect fraud and ensure efficiency.

Privacy 88

Privacy Payment Security AI Security 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

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. The company said all its 167 locations were impacted, Bank Info Security reported. “In

Data Breach 56

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

Stax

APRIL 3, 2025

The solution should implement the following data security measures: PCI compliance – The Payment Card Industry Data Security Standard (PCI DSS) is a payment data handling regulation designed to keep cardholder data safe. This protects sensitive payment data from interception by cybercriminals.

Payment Solutions 88

Payment Solutions Payment APIs and Integration Payment Gateways Gateways 88

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

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

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

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

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

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

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. The company noted there is evidence that data was taken off its servers, but that those records didn’t contain payment card or bank account details.

Data Breach 40

Data Breach Breach CHIPS Cybersecurity 40

Fintech News

JANUARY 17, 2024

Banks need advanced identity verification and authentication techniques to counter synthetic fraud, including document verification, identity graph analysis, and behavioural biometrics. Collaborative data-sharing initiatives can also help uncover synthetic identity patterns across institutions.

Deepfake 122

Deepfake APACS Scams Authentication 122

PYMNTS

JUNE 29, 2020

Fraudsters have a variety of tools at their disposal to obtain this data and are attacking these APIs at higher rates than ever before. The most popular technique, credential abuse, involves fraudsters using compromised passwords and other login information to gain access to sensitive systems. There were 85.42

MFA 96

MFA Risk Security API 96

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. Beyond the static number, said Pointner, a trend is afoot, one where large institutions are hacked, time and again, and where the data leaks out.

Data Breach 42

Data Breach Breach Laws Authentication 42

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 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

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.

Cybersecurity 68

Cybersecurity Data Breach Phishing Compromise 68

PYMNTS

OCTOBER 8, 2018

The drill is well-known now, with a litany of familiar names amid data breaches. Card data stolen from millions of department store customers? And, of course, Facebook is now a household name in a less than savory field: data harvesting. The problem is that the data has been compromised,” said Trilli.

Identity Theft 71

Identity Theft Verification Database Authentication 71

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

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 Say hello to 2017. Follow me on Twitter @dougoclare.

Office of the Comptroller of the Currency 82

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

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

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. Hackers may exploit vulnerabilities in the merchant’s system to gain access to customer data.

Risk Management 97

Risk Management Risk PCI DSS Process 97

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

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

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. In terms of data illuminating larger trends, the National Cyber Security Alliance found that roughly 50 percent of smaller firms have been victim of a cyberattack. ” The Larger Trends. “We

Business Email Compromise 61

Business Email Compromise Email Compromise Scams Compromise 61

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

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

PYMNTS

MARCH 26, 2019

That stands as a conscious uncoupling (to borrow a phrase from Gwyneth Paltrow) of personal details that, in the age of data breaches and compromises, may put users at ease when it comes to settling the bill in places where Apple Pay is still not yet an option. Apple Card is slated to debut this summer.

Credit Cards 95

Credit Cards Visa Data Breach Security 95

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

FEBRUARY 3, 2020

Cybercriminals have more opportunities than ever to swipe debit card numbers and PINs from online consumers, and false websites, large-scale data breaches and skimming tools can compromise account information. Fraudsters are increasingly savvy, though, and retailers cannot afford to relax much. .

Debit Card 52

Debit Card Assessments Data Breach Online and Mobile Banking 52

Fintech Review

DECEMBER 3, 2024

High-profile data breaches often make consumers wary of storing sensitive information digitally. Two-factor authentication (2FA) and biometric verification add additional layers of protection. Open banking initiatives enable third-party access to bank data, creating opportunities for personalised payment solutions.

Payment Solutions 97

Payment Solutions Payments Contactless Payments Online and Mobile Banking 97

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

MAY 2, 2019

PYMNTS readers certainly know much about passwords – specifically, how those relatively primitive tools continue to endure despite data breach after data breach after data breach, and how a host of companies, organizations, entrepreneurs and technology experts are working hard to come up with mainstream replacements for them.

Data Breach 55

Data Breach Security Breach Authentication 55

FICO

JULY 9, 2018

Despite the constant news of data breaches and card compromises, it seems that millions of Americans think web and phone security measures are too complicated. 48 percent are frustrated with the use of two-step verification and seven in 10 (71 percent) are frustrated by captcha codes, which they say feature illegible words.

Security 45

Security Data Breach Procedures Compromise 45