Payments Source

MAY 1, 2020

Adam Levin addresses the threats of cyber fraud and identity theft and what you can do to protect your customers' privacy and credit security.

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Identity Theft Data Breach Breach Privacy 77

FICO

OCTOBER 30, 2017

Identity theft is growing at an exponential rate, leading to a rise in application fraud. Javelin Research reported a 17% rise in reported US identity theft victims , from 13.1 Identity theft, also known as third-party fraud losses, is just the tip of the iceberg. million to 15.4 Am I missing a topic?

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Identity Theft Account Takeovers Best Practices Data Breach 72

FICO

AUGUST 1, 2019

With the rapid rise of data breaches around the globe, the fear of identity theft is at an all-time high. What does it have to do with identity theft? Just yesterday, I received an anxious phone call from my neighbor asking what she should do to protect herself. Fraudsters are nothing if not creative.

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Identity Theft Credit Cards Account Takeovers Data Breach 40

PYMNTS

APRIL 12, 2020

With governments imposing lockdowns to contain the virus, hackers have been known to pose as banks or other legitimate institutions to try to glean access to people’s private information to use for nefarious means, such as identity theft. Italian law enforcement officials said the country has seen a rise in this kind of activity.

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PYMNTS

MAY 10, 2019

prosecutors have charged a Chinese national for his alleged involvement in the 2015 data breach at health insurance company Anthem , which led to the theft of 78.8 million records. businesses. Benczkowski said in a press release. These defendants allegedly attacked U.S.

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Data Breach Breach Identity Theft Law Enforcement 46

Payments Dive

OCTOBER 22, 2020

Synthetic ID theft is a fast-growing crime around the world. Data breaches are a common phenomenon not unique to the US - companies around the world face similar challenges. Personal information exposed from data breaches often winds up for sale on dark web marketplaces.

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APACS Identity Theft Data Breach Breach 76

PYMNTS

JANUARY 24, 2017

According to a report highlighting findings from the Identity Theft Resource Center and CyberScout, data breaches in the U.S. The financial services industry accounted for only 52 of the breaches tracked, or 4.8 Some 64 percent of all data breaches involve identity and personal data theft.

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Data Breach Breach Identity Theft Phishing 40

Clearly Payments

JULY 16, 2024

Medical Identity Theft: Fraudsters use stolen patient information to obtain medical services, prescriptions, or insurance reimbursements. million cases of medical identity theft, resulting in $41 billion in losses. Healthcare data breaches increased by 55% in 2023, affecting over 29 million records.

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Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JUNE 6, 2016

Reports of data breaches and cyberattacks are serious, but what happens when those claims are untrue? According to Krebs on Security , last week, several identity theft protection companies incorrectly named Dropbox as the source of a data breach that compromised nearly 73 million usernames and passwords.

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Data Breach Breach Identity Theft Compromise 42

The Paypers

DECEMBER 17, 2020

Money has unveiled the launch of a new tool which aims to increase cybersecurity awareness and protect users from identity theft.

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Data Breach Identity Theft Breach Cybersecurity 28

The Fintech Times

MAY 17, 2024

Overall, 68 per cent of respondents either know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected. Finding a solution Identity verification is a key part of the solution for companies looking to secure themselves and ensure that their users are genuine.

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Deepfake Identity Theft Consumer Verification 69

Payments Dive

JULY 28, 2017

Find out what types of data breaches happen most frequently and the countries being affected by downloading this new infographic. We look at denial of service, web application attacks and payment card skimming, POS vulnerabilities and identity theft, among others.

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Identity Theft Payments Data Data Breach Breach 79

PYMNTS

NOVEMBER 12, 2018

The Centers for Medicare and Medicaid Services ( CMS ) confirmed on its website that it was the victim of a data breach in October — the Marketplace system used for agents and brokers was hacked. However, since this breach involves sensitive personal information, including partial SSN, there could be a risk of identity theft.”

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Identity Theft Consumer Data Breach Breach 71

VISTA InfoSec

JULY 5, 2023

Adherence to these regulations is paramount for safeguarding sensitive patient information from data breaches and cyber attacks. With the proliferation of people paying hospital bills and health insurance using credit and debit cards, the risk of identity theft has also augmented exponentially! million people.

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PCI DSS Compliance Data Breach Breach 130

The Paypers

APRIL 15, 2016

(The Paypers) According to the Identity Theft Resource Center (ITRC) data breach is one of the biggest threats facing businesses in the US.

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Data Breach Breach Identity Theft 28

PYMNTS

JANUARY 27, 2017

As if Yahoo didn’t have enough on its plate, the tech company is now facing a probe from the Securities and Exchange Commission as to whether or not it could have acted more promptly in response to two massive data breaches that left over a billion customers’ information compromised. America’s Data Breach Problem.

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Data Breach Breach Security Risk 71

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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Identity Theft Data Breach Breach Verification 63

VISTA InfoSec

SEPTEMBER 15, 2023

Data Fiduciary as per the DPDP Act 2023: Data fiduciaries bear the responsibility for adhering to the Act, even when a data processor carries out processing activities on their behalf. Report any Personal Data Breaches to both the Data Protection Board and Data Principals. Clause 8(1), DPDP Act.

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Data Breach Breach Government Governance 130

PYMNTS

MARCH 26, 2019

The United States Supreme Court has rejected an appeal by online shoe company Zappos over a data breach in 2012 that compromised the information of 24 million customers, according to a report from Reuters. Zappos ’ argument is that because customers weren’t harmed by the data breach, a federal lawsuit should not be warranted.

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Identity Theft Data Breach Breach Encryption 49

The Paypers

JULY 19, 2017

(The Paypers) A report released by Identity Theft Resource Center and CyberScout has revealed that bata breaches are up 29% over 2016.

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Breach Data Breach Identity Theft 28

Fi911

MAY 7, 2024

In certain circumstances, such as excessive chargebacks, data breaches, fraudulent activities, or violation of regulations, a merchant’s account may be terminated. Alternatively known as the MATCH List, seeks to safeguard banks from extending acquiring services to high-risk enterprises.

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PCI DSS Processors Compromise Identity Theft 92

PYMNTS

JANUARY 23, 2020

billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.

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Phishing Data Breach Breach Scams 64

PYMNTS

SEPTEMBER 11, 2017

Equifax, the credit scoring company that suffered a data breach that impacted as many as 143 million Americans, is blaming a vendor software flaw in its online databases. consumers, putting them at risk of identity theft. million in shares in the days after the security breach was discovered, the New York Times noted.

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PYMNTS

JUNE 14, 2018

Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9 million, in 2016 alone. That figure rose to 10,000 last year.

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PYMNTS

JANUARY 2, 2019

One of the biggest problems with these types of data breaches is that many users repeat passwords over many sites, and when information is stolen from one company, it can often be used by another. Warby Parker said that is what happened with this breach.

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Payments Source

JULY 9, 2018

All service providers, even those with a strong security posture, are only as secure as the Home Depots, LinkedIns and Equifaxes of the world, argues George Avetisov, chief executive of HYPR.

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PYMNTS

AUGUST 21, 2018

When it comes to the bond between consumer and financial services, no doubt the relationship is a bit, well, frayed in the age of data breaches and the Dark Web. Data Point Four: 12 Percent. To take a line from the Queen of Soul, Aretha Franklin : Every chain has got a weak link.

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Fi911

MARCH 26, 2024

In the event of a data breach, the tokens would be of no value to cybercriminals since they cannot be converted back to the original payment details. This effectively minimizes the risk of fraud and identity theft, providing peace of mind for both consumers and merchants.

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PCI DSS Encryption Origination Data Security 98

Accertify

AUGUST 16, 2024

For example, a recurring delivery service might be used fraudulently by a third party after a password breach, triggering a chargeback from the subscriber for unrecognised items ordered on his account. According to The Identity Theft Research Center (ITRC), 422 million individuals were impacted by a data breach in 2022 in the US alone 10.

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Identity Theft Disputes Account Takeovers Research 52

Exact Payments

JULY 1, 2024

By Jeremy Smillie, VP of DevSecOps at Exact Payments In an era where data breaches are not just threats but realities, protecting Personally Identifiable Information (PII) is more crucial than ever. At Exact Payments, we understand the magnitude of the responsibility of handling such sensitive data.

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Data Security Security Encryption Payment APIs and Integration 52

PYMNTS

NOVEMBER 13, 2020

Following a cyberattack that exposed patients’ mental health records last month, Finland is moving ahead with legislation that would let people change their personal identity codes in certain instances, according to an Associated Press (AP) report. The current law makes it difficult to change a personal identity code.

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Breach Laws Identity Theft Verification 69

PYMNTS

JUNE 3, 2019

million were compromised and exposed in a data breach of an agency that collects money for Quest Diagnostics and UnitedHealth Group, according to a report by Bloomberg. It stated that the American Medical Collection Agency (AMCA), which is based in Elmsford, New York, informed Quest on May 14 about the eight-month breach.

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Compromise Identity Theft Data Breach Breach 53

PYMNTS

JANUARY 30, 2017

This week’s data digest is all about, well, data. The latest report from the Identity Theft Resource Center (ITRC) and CyberScout finds a worrying trend: 2016 was a record year for data breaches, with businesses emerging as the largest target for hackers by far. 1,093 data breaches hit entities in the U.S.

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Data Security Government Governance Data Breach 54

PYMNTS

JULY 9, 2020

This could be a particularly important switch as major data breaches have made it easier than ever for fraudsters to find the personal details they need to figure out customers’ logins and thwart password-based authentication measures. percent of all fraud reported in 2019.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

PYMNTS

MARCH 29, 2017

Online retailers just got a new tool in the fight against identity theft and fraud. XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows.

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Fraud Prevention Account Takeovers Identity Theft Data Breach 40

Clearly Payments

MARCH 4, 2024

From large-scale data breaches to intricate schemes, fraudulent activities have left lasting marks on the financial landscape. Target Data Breach (2013) In the saga of payment processing fraud, few chapters loom as large as the Target data breach of 2013. Estimated financial losses exceeding $200 million.

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Phishing Data Breach Law Enforcement Money Laundering 59

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

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Risk Management Mitigation Risk Identity Theft 52