Fintech Finance

NOVEMBER 6, 2024

Despite the popularity of passwords and OTPs, these traditional verification methods are increasingly vulnerable to online scams like phishing or being intercepted by fraudsters via screen mirroring.

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Visa APACS Transactions Authentication 86

Fintech News

JUNE 10, 2024

Akira affiliates gain initial access by exploiting vulnerabilities, brute-forcing services like Remote Desktop Protocol (RDP), social engineering, and using compromised credentials. Reducing the amount of unnecessary data collected can lessen the impact of a data breach and decrease the resources needed for data protection.

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Ransomware Authorization Phishing Cybersecurity 96

PYMNTS

JUNE 28, 2016

As ZDNet reported , the company posted on its website that the sample of records it saw were “real and current,” but maintains that it was not hacked and that the data may have been stolen via phishing. It was reported that the login credentials of more than 32 million Twitter users were compromised.

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PYMNTS

JULY 24, 2020

Instead, Instacart said hackers used credential stuffing, a practice in which usernames and passwords stolen from other sites are used to hack into other accounts. “It We are not aware of any data breach at this time,” an Instacart spokesperson said. “We We take data protection and privacy very seriously.

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Accounts Compromise Data Breach Phishing 75

The Fintech Times

DECEMBER 18, 2023

“A never-ending stream of data breaches combined with highly sophisticated and technical attacks means the stolen personal information available on the dark web is continuously replenished. Take company-wide training to identify phishing attacks for example.

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Seon

JUNE 15, 2023

Fraudsters use manipulation tactics such as email-based phishing or take advantage of leaked company data to gain access to – and take over – one or more of the business’s accounts. A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

JANUARY 24, 2020

A successful phishing attack is among many businesses’ worst fears. Phishers targeting DocuSign are typically after users’ credentials, such as usernames, passwords and other identifying information, according to Heath. Phishing attacks often take one of two forms, Heath explained. Tracking Phishers’ Angles.

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PYMNTS

JULY 19, 2020

Javvad Malik , security awareness advocate at KnowBe4, said the attack highlights the need for “a layered defensive strategy, in particular against credential stuffing, exploitation of unpatched systems, and phishing emails which are the main source of ransomware,” teiss reported.

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Ransomware Phishing Encryption Data Breach 60

PYMNTS

JANUARY 28, 2020

If they’re not grabbing stolen credentials off the Dark Web then they’re neck-deep in buyer-seller collusion, or the long con of keeping fake accounts in good standing … just enough to drain them and abscond. Try wrapping your mind around the price tag of the average corporate data breach at $3.92 million per incident.

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Fintech News

JANUARY 17, 2024

Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022. Over 80 percent of these phishing campaigns mimicked banks or financial services, including institutions based in China, as well as local services like Singpass and SingPost.

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The Payments Association

NOVEMBER 20, 2024

Account takeover fraud How it works: Fraudsters can use phishing emails, false promises, and other social engineering attacks to steal a cardholder’s personal information and gain unauthorised access to their account. How AI tools can help: Strengthening the login and checkout process using technologies like 3-D Secure 2.0,

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AI Fraud Detection Identity Theft Account Takeovers 88

Clearly Payments

JULY 16, 2024

Phishing and Social Engineering: Attackers deceive employees or customers into divulging sensitive information, such as login credentials or personal identification numbers (PINs). In 2023, 83% of financial institutions reported an increase in phishing attacks. The travel industry saw a 44% increase in phishing attacks in 2023.

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Risk Identity Theft Phishing Account Takeovers 52

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. This could be accidental, or more sophisticated, for example following a mass phishing email campaign. What Is Account Takeover Fraud? There are many paths to successful ATO fraud.

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PYMNTS

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. One hacker even posed as a company’s HR department and made off with more than 20,000 company records. .

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Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

FEBRUARY 8, 2019

IBM data said the average cost of a data breach is $3.86 Rising frustrations with passwords have churned up excitement over sophisticated technologies, like biometrics, to safeguard data. Plus, professionals will often use paper or spreadsheets to keep track of those login credentials. million, with U.S.

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Phishing Payment APIs and Integration MFA Credential 66

PYMNTS

JANUARY 25, 2021

They often hack into these consumers’ accounts using passwords stolen from other sites that use the same login credentials, for example. Data breaches, botnet attacks and other forms of external threats are well-known to digital-first banks. Why Digital-First Banks Require Different Defenses For Varied Fraud Threats.

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Credential Data Breach Phishing Cybersecurity 94

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. Overall, thanks to the rise in data breaches, merchants and FIs alike are dealing with a steep increase in fraud. Fraud is rampant and thriving.

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PYMNTS

JUNE 29, 2020

The most popular technique, credential abuse, involves fraudsters using compromised passwords and other login information to gain access to sensitive systems. One 2018 study found that 81 percent of open banking-related breaches were the result of stolen or weak passwords. There were 85.42 million were aimed at the financial industry.

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PYMNTS

JUNE 13, 2019

As this month’s PYMNTS Digital Fraud Tracker highlighted, Amazon revealed in May that it was hit by an “extensive” fraud in which hackers are suspected of using phishing attacks on Amazon sellers to steal company money. Reports in Bloomberg , citing a U.K. Reports in Bloomberg , citing a U.K.

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B2B Phishing Cybersecurity Data Breach 55

PYMNTS

APRIL 14, 2019

In a statement to reporters, Microsoft said: “We addressed this scheme, which affected a limited subset of consumer accounts, by disabling the compromised credentials and blocking the perpetrators’ access.”. It also appears the bad guys didn’t access login credentials including passwords.

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PYMNTS

AUGUST 9, 2018

“Threat actors are targeting enterprises by impersonating the services that enterprises rely on every day, such as email service providers and software as a service (SaaS) platforms,” said PhishLabs in a recent summary of the changing nature of phishing attacks. Social engineering ” is another tactic seen in business phishing attempts.

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B2B Phishing Scams Data Breach 44

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur.

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PYMNTS

AUGUST 7, 2020

Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April. 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.

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Phishing Data Breach Account Takeovers Verification 89

PYMNTS

FEBRUARY 2, 2018

According to the firm, fraudsters use a phishing scam by sending an email from an address similar to a legitimate company account. The email requests that an employee answer a brief survey then hit “confirm,” then directs them to enter their credentials in an online form to confirm their identity. By then, the damage has been done.”.

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Direct Deposit Payroll Scams Due Diligence 48

PYMNTS

DECEMBER 22, 2016

In a data roundup by the publication of the latest analysis of corporate cybersecurity, researchers identified where a security breach is most likely to occur. Meanwhile, 20 percent cited a lost device for the cause of a breach.

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Cybersecurity Research Phishing Breach 68

PYMNTS

MARCH 2, 2020

With trust, however, comes inevitable breaches. When hackers hit Pennsylvania-based fuel and convenience retailer Wawa, they made off with the credentials of potentially thousands of credit union members. The Desjardins Group incident sent a chill through the CU community. It’s been a jarring wakeup call, but now, CUs are wide awake.

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PYMNTS

AUGUST 21, 2018

Using malware, the hacker or hackers steals bank credentials and personal and corporate data. According to a press release from Kaspersky, the malware is spread via infected USB devices, as well as through spear phishing emails that include features to evade detection. Kaspersky Lab announced on Tuesday (Aug.

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PYMNTS

APRIL 24, 2018

When someone becomes a victim of ATO, they lose more than money and login credentials — they lose confidence. First, these attacks can have a rolling effect: Once a fraudster gains access to a consumer’s credentials at one eCommerce merchant, he holds the key to a potential myriad of other digital stores at which to exploit them.

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PYMNTS

OCTOBER 30, 2020

Land recently spoke with PYMNTS about the growing threat eSkimming presents, and detailed how payments tokenization and phishing awareness campaigns can keep consumers safe from these and other fraud tactics targeting eCommerce. Safeguarding Card Details.

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Credit Cards Credit Union Consumer Data Breach 77

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.

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PYMNTS

MARCH 18, 2019

Last September, the Federal Bureau of Investigation (FBI) issued a warning about cybercriminals’ tactic of targeting digital payroll accounts, using phishing scams to obtain employee credentials and redirect payroll deposits to their own accounts. “Education is the number-one way employers can protect their payroll data.”

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Payroll API Payment APIs and Integration Data Breach 64

PYMNTS

FEBRUARY 1, 2021

The Interstate Technology & Regulatory Council (ITRC) released new data on the state of cyberattacks and data breaches with some surprising news: data breaches were actually down in 2020 year-over-year. The scam involves sending a phishing email claiming to be a Microsoft Office 365 update.

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Data Breach Breach Business Email Compromise Scams 136

PYMNTS

JANUARY 4, 2020

Insofar as the average consumer knows, that side of the web – which is accessible only via a TOR server – is the place where their personal information is sold whenever there is a data breach. A few years ago, one could get an Uber credential for as little as $1 – but these days, they tend to cost north of $40. Lime Scooters

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PYMNTS

JULY 21, 2020

They might hack databases to obtain information like consumers’ emails and phone numbers or they might find such information already available on the dark web from previous data breaches. Criminals that successfully convince users to hand over login information can take control of the accounts and block out the original owners.

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P2P Scams Security Account Takeovers 60

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. So why do cyber-attacks happen? For financial gain.

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CB Insights

JULY 20, 2017

These companies address fraud, network access privileges and the management of login credentials, and offer products and services related to authentication. Other companies in this subcategory include Armor Defense , which helps prevent data breaches through managed multi-layer security for public and private clouds.

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PYMNTS

JULY 1, 2019

It’s open season for hacks on mobile order-ahead apps as data breaches continue to make headlines regularly and cybercriminals purchase stolen identities on darknet marketplaces. Chipotle denied any breach of its databases or systems. Such details can also be acquired via phishing schemes. Scamming, the Old-fashioned Way.

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Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66