Clearly Payments

JULY 16, 2024

Fraud Rate by Industry in 2023 Credit card fraud is a pervasive issue impacting various industries, each with unique vulnerabilities and estimated fraud rates. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% ATO fraud increased by 72% in 2023, with losses totaling $11.4

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JANUARY 24, 2020

A successful phishing attack is among many businesses’ worst fears. Sending out thousands of attempts every minute is simple, and it only requires one employee to unwittingly play into hackers’ hands for fraud to take place. Phishing attacks often take one of two forms, Heath explained. Tracking Phishers’ Angles.

Phishing 52

Phishing Credential Best Practices Data Breach 52

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. To successfully address fraud, merchants need to have a fraud prevention strategy in place well before the holiday season.".

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

JULY 21, 2020

Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased 129 percent during the same period. Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

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. In fact, phishing is the root cause of 90 percent of data breaches , including the giant commercial variety.

Data Breach 57

Data Breach Phishing Breach Bots 57

PYMNTS

MAY 6, 2020

Many banks use AI to double-check consumers’ credentials on the back end, but this has security drawbacks when the algorithms can access only outdated or weakly verified information, such as when accounts are created and customer information is seen for the first time. Technology is only as good as the data it is allowed to access, however.

Fraud Prevention 72

Fraud Prevention Money Laundering AI Identity Theft 72

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.

B2B 44

B2B Phishing Scams Data Breach 44

PYMNTS

JANUARY 20, 2020

Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Businesses therefore must balance ease of use and security concerns when deploying fraud protection technologies.

Identity Theft 54

Identity Theft Fraud Prevention AI Scams 54

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.

B2B 55

B2B Phishing Cybersecurity Data Breach 55

PYMNTS

MAY 24, 2017

According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam. They will come in, do a fake phishing scam, a fake malware download, a fake password request and see how many people follow through with it.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

MARCH 26, 2020

As fraudsters collect thousands of stolen credentials like login names and passwords, they try to use bots to validate if what they’ve captured [is] correct or not,” Valipireddy noted. Fraudsters typically have two options if successful: They use the stolen credentials themselves or sell them on a dark web marketplace.

Bots 56

Bots Ransomware Blocks Credential 56

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.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

MAY 22, 2020

People are one click away from a malware download or credential phishing [website]. Almost 65 percent of incidents involve bad actors stealing login credentials to gain account access, and phishing schemes often trick credential owners into unwittingly surrendering their details.

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

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. Anti-fraud. Credential Mgmt. Credential Mgmt. Anti-fraud. Anti-fraud. Credential Mgmt. Anti-fraud. Bangsun Technology. Compliance.

Cybersecurity 30

Cybersecurity Security AML PCI DSS 30

PYMNTS

FEBRUARY 28, 2020

File hosting service Dropbox is devoting substantial efforts to its fraud prevention measures, seeking to protect its more than 600 million users — who have 400 billon stored files, and upload 1.2 The number-one thing that we see is compromised credentials from another service being used against us,” he explained.

Credential 52

Credential Phishing Fraud Prevention Best Practices 52

Seon

JUNE 15, 2023

Thankfully, as BEC attacks are often a product of human error, many can be avoided with due diligence and training – both of which can be enhanced with the right fraud prevention tools. The report states that these victims mostly lost their money to BEC scams. What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

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. There were 85.42 billion such attacks between December 2017 and November 2019, 16.55 billion of which targeted APIs, and of these attacks, 463.3

MFA 96

MFA Risk Security API 96

PYMNTS

AUGUST 7, 2020

The research also noted a 40 percent increase compared to February in the number of blocked attempts to guide users to phishing websites for one of the most-visited gaming platforms. . Other bad actors rely on phishing, in which potential victims receive links that direct them to fake login pages and ask them to input their account details.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

FICO

JANUARY 19, 2022

Like many modern card and e-commerce frauds, the scam itself contains a range of attack vectors in a single place. This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. FICO is investing heavily in the global fight against fraud scams.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

Seon

MAY 8, 2024

Additionally, it can swiftly detect suspicious emulators or virtual machines frequently utilized by fraudsters in account takeover schemes and phishing attempts to trick users into revealing their login credentials. This feature is invaluable in detecting phishing scams, especially in the financial service industry.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52