PYMNTS

MAY 15, 2017

and Puerto Rico had their payment card information compromised. While the information hacked included names, account numbers, expiration dates and verification codes, Brooks Brothers confirmed sensitive information like social security numbers and addresses weren’t compromised. This past week, the U.S.-based

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Breach Compromise Social Security Payments 46

PYMNTS

DECEMBER 31, 2018

Retailer Hudson’s Bay got story started in early April with the disclosure that Saks Fifth Avenue and Lord & Taylor stores in North America had their payment cards compromised. The breach was believed to have seen 5 million cards compromised. Customers that may have been impacted were offered consumer protection services.

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Data Breach Breach Database Compromise 92

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.

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Verification Authentication Blockchain Push-to-Card 58

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.

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PYMNTS

AUGUST 24, 2017

There’s much to look forward to as the September rollout of Phase 2 of Same Day ACH (Debit Pull) looms, but David Barnhardt, executive vice president of full-service payment and verification solutions provider GIACT , thinks there’s just as much reason for caution. “I Barnhardt said banks should cross-check identities using social platforms.

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Same Day ACH ACH Enrollments Verification 46

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. Compromised data includes passwords, too, of course. Although delayed, the migration will take place.

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Authentication Compromise Addressing Regulations 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.

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Authentication Privacy Checks AI 70

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.

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Online and Mobile Banking Verification Data Breach Breach 56

Clearly Payments

JANUARY 8, 2024

The first step is implementing robust authentication processes, including multi-factor authentication, biometric verification , and tokenization , to enhance user access security. Empowering customers to be vigilant about their own security is another key aspect.

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Risk Management Risk PCI DSS Process 97

PYMNTS

AUGUST 7, 2019

Department of Commerce established the National Program Office (NPO), led by NIST, to implement the program and collaborate with the private sector on tighter digital ID security. It was built around four guiding principles: That identity management should be privacy-enhancing, secure, interoperable, cost-effective and easy to use.”.

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Multifactor Authentication Governance Government Data Breach 47

PYMNTS

FEBRUARY 6, 2017

Research has found that new-account fraud more than doubled from 2014 to 2015, with nearly 7 million individuals having their Social Security numbers (SSN) compromised in 2015, an increase of more than 63 percent from the previous year. PYMNTS: Why is that important — and how difficult is that to do?

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Federal Trade Commission Scams Credit Cards Fraud Prevention 59

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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Fraud Prevention Money Laundering AI Identity Theft 72

PYMNTS

MAY 31, 2018

If that data has already been exposed, then taking it back from organizations doesn’t do much good – there needs to be a way to tell, in the moment of the transaction, that a customer is legitimate rather than a criminal who has gained access to their static credentials, such as birthdate, address and Social Security number.

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ATM Consumer Data Breach Credential 43

PYMNTS

OCTOBER 18, 2019

At its most basic level, the key ingredients that are pilfered and then used to construct synthetic identities – where individuals’ personal information is stitched together to fabricate new identities — are tied to data that is given to us at birth: Social Security numbers. Well, it can take years to discover.

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Identity Theft Social Security Money Laundering Fraud Prevention 42

PYMNTS

MARCH 1, 2018

As Webster noted, the Dark Web is awash with offerings for sale – everything from Social Security numbers to birthdates to drivers’ licenses. It might go without saying that trust is a commodity Equifax and any other number of data-focused firms could sorely use. We can leverage that [to make sure] that you are you.”.

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Push-to-Card Breach Compromise Authentication 40

PYMNTS

MARCH 2, 2018

That’s a lot of compromised data, of course. And Equifax has taken steps to stanch some of the bleeding of personal information – you know, the kind for sale on the Dark Web – by forging new pacts focused on identity verification. million, boosted by verification services, which gained 11 percent from last year to $126 million.

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Breach Data Breach Identity Theft Data Security 41

PYMNTS

MARCH 13, 2019

Delivering relief funds via paper check can be challenging if a resident’s home was destroyed or if a roadway was compromised, for example. It also uses a thorough verification system to review government identifications, Social Security numbers and public records through databases like LexisNexis.

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Debit Card Federal Reserve Checks Governance 40

CB Insights

NOVEMBER 21, 2017

If Alice or Bob wanted to falsify a transaction, they would have to compromise the majority of participants, which is much harder than compromising a single participant. The recent Equifax hack exposed the social security numbers of 143M Americans. Identity might also be low-hanging fruit.

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Blockchain Technology Bitcoin Participant 78

Nanonets

SEPTEMBER 28, 2023

Factors like cut-off times, verification, and weekends/holidays can affect EFT timing. Government Benefits: Governments use EFTs to distribute benefits and payments, such as social security and tax refunds, to beneficiaries. While EFT payments are generally safe, there is always a risk that your information could be compromised.

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Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wire 52

Nanonets

SEPTEMBER 28, 2023

Factors like cut-off times, verification, and weekends/holidays can affect EFT timing. Government Benefits: Governments use EFTs to distribute benefits and payments, such as social security and tax refunds, to beneficiaries. While EFT payments are generally safe, there is always a risk that your information could be compromised.

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Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wire 52

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. Biometrics May Not Be the Panacea.

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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?

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Verification Addressing Online and Mobile Banking Authentication 45

CB Insights

AUGUST 25, 2017

Deploying blockchain solutions in education could streamline verification procedures – thus reducing fraudulent claims of un-earned educational credits. Use of blockchain technology could allow hospitals, payers, and other parties in the healthcare value chain to share access to their networks without compromising data security and integrity.

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Blockchain Law Enforcement Bitcoin Transactions 78