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

Seon

JANUARY 29, 2024

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

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

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.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

JANUARY 28, 2020

Try wrapping your mind around the price tag of the average corporate data breach at $3.92 Email phishing scams seem so Y2K that it’s hard to believe how effective they are, even against corporations protected by fancy firewalls. That’s why low-tech approaches should always be part of a multi-layered anti-fraud strategy.

Data Breach 57

Data Breach Phishing Breach Bots 57

PYMNTS

FEBRUARY 27, 2020

Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. billion to $7.2

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

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. Knowing Is Half The Battle.

Phishing 52

Phishing Credential Best Practices Data Breach 52

PYMNTS

MARCH 3, 2020

A recent study found that legacy fraud attempts, like check fraud, were stopped 90 percent of the time, but experts predict that electronic fraud methods, such as phishing and email account compromises, will become much more prevalent over the next year. million compared to unsecured companies’ $5.16

Data Breach 60

Data Breach ATM Online and Mobile Banking Breach 60

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

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

MARCH 20, 2020

In the March Merchant Fraud Decisioning Playbook , PYMNTS examines how AI and ML are enabling merchants to gather information from various data sources, transforming those details into actionable insights and bypassing the manual reviews that can leave them unable to keep up with fraudsters’ ever-evolving efforts.

Fraud Prevention 90

Fraud Prevention AI Account Takeovers Phishing 90

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Casualties of these breaches in the first half of 2019 alone include 4.1 Organizations and security developers are investing billions of dollars in fighting these fraud attempts.

Bots 59

Bots Cybersecurity Phishing Fraud Prevention 59

PYMNTS

SEPTEMBER 24, 2018

As such, businesses are now investing in their security and fraud prevention technology and solutions. PYMNTS explores the world of cybercrime in this inaugural Digital Fraud Tracker , including how fraudsters target their victims and the ways security providers are working to stop them. . How Cybercrime Happens.

AI 78

AI Account Takeovers Data Breach Cybersecurity 78

Stax

DECEMBER 20, 2023

Secure transactions ensure you can maintain a trustworthy reputation with past and future customers, as well as reducing the financial losses that come from the fines and legal fees associated with compromising customer data. One of the most famous data breaches happened to Target in 2013.

Credit Cards 88

Credit Cards Small Business Process Security 88

PYMNTS

MARCH 12, 2018

The most devastating impacts of a data breach can only be avoided by both working to prevent a breach and by planning and preparing a response before an incident occurs,” Jerry Thompson, senior vice president of Intersections, told the publication in an interview.

Small Business 54

Small Business Cybersecurity Risk Assessment Data Breach 54

Seon

JUNE 1, 2023

Regardless of the number and types of security features chosen by an organization wishing to utilize high-security checks, their purposes are as follows: to deter fraudsters, reduce fraud, and protect the financial interests of the check payer and payee. Ultimately, high-security checks protect people’s money and data.

Checks 52

Checks Security Fincen Payer 52

PYMNTS

DECEMBER 26, 2019

These bad actors are leveraging numerous methods — including false mobile apps, loyalty and reward schemes, ATOs, phishing and phone scams — to find and exploit security flaws. Digital fraud rose 30 percent in Q3 2019, with one out of every five new accounts revealed to be illegitimate.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Detection Data Breach Phishing 52

PYMNTS

JANUARY 3, 2019

As bad as one might think the risks of cybercrime are (fraud, hacking, data breaches , customer and revenue loss, lawsuits and fines), the reality is probably worse. Well, let’s start with the bad news first, even at the risk of robbing some of the joy and optimism that comes with the new year.

Risk 67

Risk Data Breach Breach Risk Management 67

PYMNTS

APRIL 24, 2018

Getting Their Hands on Data. There are a few ways in which fraudsters gain access to raw customer data. First, there are data breaches like the ones at Equifax, Target and other retailers. The vast majority of fraud attacks result from these data breaches.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

JULY 25, 2017

The impact of online fraud reaches far beyond the dollar count of sales lost. . When data breaches occur, jobs are on the line from the CIO down to lower-level IT personnel. . Retailers and merchants are losing more than $3 for every dollar of fraud incurred as recently as 2014, and that number was up from $2.79

EMV 48

EMV Identity Theft Mitigation Breach 48

PYMNTS

AUGUST 17, 2018

A bit closer to home, in the wake of a data breach in Adams County, Wisconsin – one that affected 250,000 people – several employees allegedly tied to that breach are still on the county payroll. 1 of 2013 and the end of March 2018.

B2B 40

B2B Scams Breach Data Breach 40

Exact Payments

FEBRUARY 26, 2024

With merchant losses due to payment fraud expected to reach a staggering $362 billion between 2023 and 2028, and every $1 of fraud costing U.S. retail and ecommerce merchants $3.75 , the urgency for effective fraud prevention measures is at an all-time high. This makes it a more secure method for protecting data.

Fraud Prevention 40

Fraud Prevention Credit Cards Data Breach Payments 40

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

Nanonets

MAY 31, 2023

Seon reports that 22% of adults in the US were victims of this type of fraud in 2022, with average losses of around $12,000 per case. Data Breaches: Hackers infiltrate the organization's systems or third-party platforms to steal sensitive payment information and use it for fraudulent purposes. percent after 14 market days.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

CB Insights

JULY 20, 2017

Other companies in this subcategory include Armor Defense , which helps prevent data breaches through managed multi-layer security for public and private clouds.

Cybersecurity 30

Cybersecurity Security AML PCI DSS 30

PYMNTS

NOVEMBER 27, 2019

Fraudsters, sadly, are also taking notice and are looking to take advantage of heightened retail activity to steal data and goods. The holiday shopping season is kicking into high gear with retailers working aggressively to entice customers with deals and discounts.

AI 60

AI Point-of-Sale (POS) Card Issuer Credit Cards 60

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. Eighty-eight percent of surveyed managers expect the health crisis to increase the threat of financial fraud in regulated industries, including online gambling. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

JUNE 29, 2020

These credential abuse attacks come in a variety of forms, with some hackers choosing to overwhelm API defenses with simultaneous logins from a host of bots and others using more targeted techniques like phishing individual API developers and using their login credentials.

MFA 96

MFA Risk Security API 96

PYMNTS

DECEMBER 20, 2019

Such identities are also not susceptible to any blacklists or fraud filters, which only contain known fraudulent information. Phishing schemes are particularly common, occurring when fraudsters impersonate an authority figure from a website the victim trusts and asks for their username and password.

Credit Cards 52

Credit Cards Data Breach Breach Phishing 52

The Fintech Times

DECEMBER 11, 2023

Today, we bring you insights from industry leaders regarding the changing dynamics of cybersecurity threats and trends in 2024, including AI’s impact, behavioural biometrics, fraud prevention, masking and enhanced security for financial services.

Cybersecurity 139

Cybersecurity Ransomware Authentication AI 139

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