Fintech News

SEPTEMBER 22, 2024

Global highlights: January – December 2023, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions In financial services, new account creation attacks increased by 12% YoY, driven by increases on the mobile channel, primarily mobile browser. Despite this high volume. of all cases.

Accounts 142

Accounts Scams Bots Account Takeovers 142

CoinRemitter

SEPTEMBER 22, 2023

What is a phishing attack? The cyber phishing attack is intended to trick individuals into submitting/giving up sensitive information (such as private keys, passwords, etc.). But they may steal and misuse your sensitive information to execute their intended crypto scam.

Phishing 40

Phishing Smishing Credential Scams 40

Fintech News

SEPTEMBER 17, 2024

Major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months in a concerted effort to bolster security against phishing scams. While banks will continue to do their part to fight scams, customers need to be vigilant themselves and practice good cyber hygiene.”

Verification 101

Verification Scams Financial Crimes Phishing 101

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. How DocuSign Ices Out Phishing Attacks. Deep Dive: Businesses Struggle With Employee Phishing.

Phishing 64

Phishing Data Breach Breach Scams 64

PYMNTS

AUGUST 28, 2018

Phishing scams remain one of the most popular ways a cyberattacker can target a small business. But the phishing scam is also evolving to target the C-suite itself. Employees should be trained to identify phishing scams, but the whaling tactic highlights the need for businesses to train their leadership teams, too.

Phishing 40

Phishing Scams Small Business Cybersecurity 40

VISTA InfoSec

JUNE 18, 2024

Next, analyze potential risks like malware infections, phishing scams, or disgruntled team members leaking sensitive data. A crafty hacker could infiltrate accounts secured by flimsy credentials. Kick things off with phishing awareness training. Simplistic credentials are entry points for hackers.

Data Security 266

Data Security Security Encryption Cybersecurity 266

The Fintech Times

SEPTEMBER 21, 2024

This process aims to make it more difficult for scammers to take over a customer’s DT by setting it up on his own device using phished credentials such as an SMS, one-time passwords (OTPs) and/or bank card information. “MAS will continue to work closely with banks on measures to protect customers against scams.

Verification 71

Verification Scams Financial Crimes Crime 71

PYMNTS

JUNE 6, 2019

Security experts are warning about a phishing scam that can help hackers bypass two-factor authentication (2FA). It showed how the scam uses two new tools, Muraena and NecroBrowser, to potentially trick users into sharing their private credentials.

Scams 58

Scams Credential Security Phishing 58

PYMNTS

AUGUST 2, 2019

To combat fraud — especially phishing — united we stand? As noted in the latest Digital Fraud Tracker , phishing attacks are up 76 percent this year compared to last year. Verizon has estimated that 30 percent of phishing messages are opened by their intended targets.

Phishing 79

Phishing Scams IRS Request for Information 79

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 85

Visa APACS Transactions Authentication 85

VISTA InfoSec

FEBRUARY 25, 2024

They take advantage of vulnerable software, stolen credentials, tricked employees, business partner access, unencrypted transfers, and even insider threats to penetrate networks. Skilled hackers use sophisticated tools to exploit the slightest weakness in defenses.

Data Breach 272

Data Breach Breach Multifactor Authentication Cybersecurity 272

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise.

Scams 63

Scams Automation Phishing Email Compromise 63

PYMNTS

MARCH 3, 2017

Especially when it comes to phishing schemes, which typically don’t take as much effort but can result in huge payouts. PYMNTS: How have phishing schemes evolved in recent years? PYMNTS: Can you discuss the biggest trends observed in financial phishing, banking malware and Android banking malware?

Phishing 66

Phishing Online and Mobile Banking Credential Security 66

PYMNTS

JULY 27, 2020

This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more. Forty-seven percent of respondents said the reason they fell for a phishing scam was simply because they were distracted. In a survey of 1,000 U.K.

Law Enforcement 101

Law Enforcement Scams Phishing B2B 101

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

Deepfake 118

Deepfake APACS Scams Authentication 118

Innovative Payments Association

JUNE 26, 2024

Fraud and scam activity can happen to anyone. We believe it may have been an account takeover or at the very least, someone who illegally obtained her personal credentials and instigated a couple of small financial transactions that I am sure were designed to see if it was possible to begin transferring money out of her account.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

PYMNTS

JULY 22, 2019

Apps with a possible security flaw, a malware phishing scheme and possibly, payments fraud, all done in the blink of an eye? The phishing campaign targets consumers and also commercial users. The phishing campaign targets consumers and also commercial users.

Phishing 72

Phishing Credential Scams Payments 72

The Fintech Times

DECEMBER 18, 2023

“But with the popularity of generative AI (shout out to ChatGPT and FraudGPT), fraudsters can now make their social engineering scams even more convincing at an unheard of scale. Take company-wide training to identify phishing attacks for example.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

JULY 24, 2020

Outside of the Instacart platform, attackers may target individuals using phishing or credential stuffing techniques. “We take data protection and privacy very seriously.

Data Breach 86

Data Breach Breach Phishing Duplicate 86

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. PYMNTS breaks down the numbers behind the latest cases below.

Business Email Compromise 91

Business Email Compromise Scams Crime Email Compromise 91

PYMNTS

JULY 21, 2020

This problem puts many at risk of falling victim to scams. This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). It also details how payment service providers can up their defenses against such threats. Fraudulent Sellers.

P2P 60

P2P Scams Security Account Takeovers 60

PYMNTS

MAY 22, 2020

The Federal Trade Commission (FTC) has received 18,235 reports of virus-centric scams since the beginning of the year, and these incidents have resulted in more than $13.4 People are one click away from a malware download or credential phishing [website]. million in losses.

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

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 Outside of the Instacart platform, attackers may target individuals using phishing or credential stuffing techniques. Instacart , the U.S.

Accounts 75

Accounts Compromise Data Breach Phishing 75

Nanonets

NOVEMBER 14, 2023

BECs are cyber scams in which cybercriminals infiltrate or counterfeit legitimate business email accounts. The cybercriminal proceeds to infiltrate the company's email system through methods like phishing emails or email account spoofing, particularly targeting key employees. What is Business Email Compromise (BEC)?

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52

PYMNTS

MAY 2, 2016

According to security researchers from PhishLabs , Google Play has a bit of a phishing problem. “These attacks combine traditional, browser-based phishing attacks with the mobile platform in order to create convincing mobile applications,” according to security analyst Joshua Shilko, who works at PhishLabs.

Phishing 41

Phishing Credential Research End User 41

PYMNTS

APRIL 4, 2019

Meanwhile, instances of the Business Email Compromise (BEC) are also on the rise: About 47 percent of all incidents examined last year were the result of a hack or malware — and, of those, about half were BEC scams. More recently, analysts at Vade Secure issued a warning over an emerging phishing strategy looking to steal corporate funds.

Ransomware 63

Ransomware Phishing Direct Deposit Business Email Compromise 63

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.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

AUGUST 23, 2018

Customers of National Australia Bank (NAB) and American Express became the targets of a recent phishing scam spree in Australia, according to MailGuard reports this week. 21) that clients of NAB and American Express are the targets of a phishing scam. Attacks using financial service providers’ logos are common.

Phishing 40

Phishing Scams Non-Bank Cybersecurity 40

PYMNTS

JANUARY 20, 2017

In this week’s Hacker Tracker , Radware shares its global cybersecurity research on what’s really motivating cybercriminals, a Gmail phishing attack targets savvy users and the U.S.’s In many cases, experienced or tech savvy users can spot a phishing email scam from a mile away. Money On The (Cybercriminal) Brain.

Phishing 45

Phishing Ransomware EMV CHIPS 45

Fintech Finance

AUGUST 29, 2024

Despite the rising popularity of one-time passwords (OTPs) due to their ease of use, they are increasingly vulnerable to online scams such as phishing, SIM swapping and message interception. With payment passkeys, consumers can say goodbye to the hassle of forgetting or accidentally sharing their passwords or OTPs.

Visa 102

Visa Security Authentication Payments 102

Fi911

JANUARY 18, 2024

They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means. New Account Fraud A new account is opened using fake or stolen credentials. Banks and merchants are also frequently targeted by third-party scams. For example, a new line of credit.

Account Takeovers 93

Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

FEBRUARY 8, 2019

Plus, professionals will often use paper or spreadsheets to keep track of those login credentials. The reliance on passwords means those credentials become more of a security liability than protector, as cyberattackers attempt to infiltrate enterprise systems. most common) passwords and check them against millions of accounts.

Phishing 66

Phishing Payment APIs and Integration MFA Credential 66

PYMNTS

JUNE 8, 2020

MFA requires customers to prove their identities by providing at least two types of credentials. Fighting Phishing. Educating account holders about threats can be especially effective in foiling phishing attacks, for example.

Authentication 60

Authentication MFA Phishing Scams 60

PYMNTS

MARCH 27, 2017

The added layer of security means that if fraudsters are able to steal a user’s login credentials, they still wouldn’t be able to gain access. The Anti-Phishing Working Group (APWG) released a report last month indicating that 2016 was the worst year in history for phishing scams.

Authentication 41

Authentication Phishing Scams Credential 41

PYMNTS

FEBRUARY 2, 2018

Of all of the scams targeting corporates, another one is landing on their radar. experts warned of a type of payroll scam that sees fraudsters diverting direct deposits from employee accounts to criminal accounts. Those credentials are then used to access payroll portals and redirect payroll funds into fraudulent accounts.

Direct Deposit 48

Direct Deposit Payroll Scams Due Diligence 48

PYMNTS

NOVEMBER 17, 2020

A recent study found that phishing websites and emails spiked as the event drew closer, with many fraudsters using the Amazon brand and logos to trick customers into surrendering their login data and payment card credentials,” per the Digital Fraud Tracker®.

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

AUGUST 8, 2018

Business Email Compromise scams continue to grow and steal more corporate money than ever before. Phishing emails — 93 percent of which include ransomware, according to ITProPortal — should by no means be ignored. ProofPoint’s report does not underestimate the strength of ransomware attacks via phishing.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44