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

PYMNTS

MAY 4, 2020

Three common forms of fraud that can threaten credit unions (CUs) are check fraud, card fraud and automated clearing house (ACH) fraud, and fraudsters often deploy phishing emails to deceive and defraud customers. Rise in Phishing Attacks and Data Breaches. Phishing attacks can also target CU employees.

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Phishing Credit Union Breach Data Breach 56

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.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

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Deepfake APACS Scams Authentication 107

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

Segpay

FEBRUARY 21, 2024

Tokenization: Generative AI contributes to the implementation of tokenization, a technique that replaces sensitive data, such as credit card numbers, with unique tokens. These tokens are generated for each transaction, reducing the risk of data breaches. This provides digital payment methods with an additional level of security.

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AI Innovation Fraud Detection Encryption 90

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

JULY 9, 2020

Fraudsters have only upped their efforts during the pandemic, with phishing attacks alone increasing 667 percent between late February and late March. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs. percent of all fraud reported in 2019.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

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

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

Seon

JANUARY 29, 2024

It is also considered a form of identity theft, because it happens when someone logs into an account that isn’t theirs to exploit it. This could be accidental, or more sophisticated, for example following a mass phishing email campaign. There are many paths to successful ATO fraud.

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Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

OCTOBER 30, 2018

Looking at research from the Identity Theft Resource Center, QuickBridge pointed to small businesses in the healthcare, banking and finance, and retail sectors as particularly popular targets for cyberattackers.

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FTC Cybersecurity Small Business Federal Trade Commission 73

PYMNTS

JULY 10, 2019

Besides identity theft, malware and viruses, there are phishing scams, data breaches and other unknown issues that can compromise computers and daily life. Privacy is the new currency in a time when browsing the internet can be a lot like walking through a crime-ridden neighborhood.

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Privacy Identity Theft Regulatory Compliance Data Breach 40

PYMNTS

APRIL 30, 2019

In addition to identity theft, the data could be used to target older and more vulnerable people for phishing and scam attempts. While 80 million households are included in the database, the number could impact hundreds of millions of individuals. Everyone in the database is over the age of 40.

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Database Identity Theft Breach Phishing 49

PYMNTS

MARCH 6, 2017

In 2016, there were 1,093 data breaches according to the Identity Theft Resource Center – a 40% increase over the 2015 data breach number of 781. Malware and its Role in Data Breaches. Specifically the webinar will explore: The State of Payment Security.

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Data Breach Third Party Vendors Encryption Identity Theft 47

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. Cyber-attacks with financial demands.

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Identity Theft Breach Data Breach Phishing 65

Payment Savvy

DECEMBER 3, 2020

Cyber frauds can take place in several forms, including: Identity theft is when an attacker gets personal information about an individual and uses it to commit fraud without their consent. Encourage your staff to avoid accessing unsecured networks using work devices since it gives cybercriminals access to sensitive data.

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Encryption Data Encryption Identity Theft Cybersecurity 52

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Data Breaches: Hackers infiltrate the organization's systems or third-party platforms to steal sensitive payment information and use it for fraudulent purposes. million, with an average of $136 being stolen per phishing attack.

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Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

DECEMBER 20, 2019

Such identities are also not susceptible to any blacklists or fraud filters, which only contain known fraudulent information. Clean fraudsters can acquire their stolen identities through a variety of means.

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Credit Cards Data Breach Breach Phishing 52

PYMNTS

JANUARY 23, 2017

Its latest analysis, released in conjunction with the Identity Theft Resource Center, found an all-time-high number of data breaches, with 1,093 incidents recorded in 2016. But researchers questioned whether the increase is due to more breaches or simply more publicly available data on the topic.

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Risk AFP Identity Theft Email Compromise 43

PYMNTS

JULY 25, 2017

When data breaches occur, jobs are on the line from the CIO down to lower-level IT personnel. . At 71 percent, as estimated by one secure payments processing firm, identity theft is the most common type of fraud. Phishing follows close behind at 66 percent. the year before.

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EMV Identity Theft Mitigation Breach 48

PYMNTS

MARCH 29, 2019

It also puts people at risk for robo calls and phishing attacks, which will try to lure even more personal information out of people. The company, which is based in Estonia, sent out thousands of emails to verify addresses, usually with the only a message saying “hi.”.

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Database Accounts Breach Phishing 74

PYMNTS

MARCH 16, 2017

The Department of Justice bringing charges against two spies in Russia and two hackers who allegedly took part in the massive data breach that rocked Yahoo recently has now shed light on exactly how these breaches took place. This past fall, Yahoo disclosed a massive breach of user accounts that impacted 500 million people.

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FBI Breach Identity Theft Data Breach 46

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

PYMNTS

JANUARY 24, 2017

Train your eye on cybersecurity and data breaches, and more is certainly something no firm wants to experience. Of all records exposed across all industries, 72 percent were uncovered across hacking, phishing and skimming efforts. Social Security numbers were exposed in more than half of all breaches last year.

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Data Breach Breach Identity Theft Phishing 44