Fintech Finance

SEPTEMBER 30, 2024

This false sense of security is compounded by the fact that 61% of participants have changed their behavior or reduced their use of payment platforms due to fears about cyber scams. ” Respondents were asked about nine different types of scams. 48% were troubled about a potential data breach.

Scams 97

Scams Digital Payments Consumer Payments 97

Fintech News

NOVEMBER 10, 2024

The State of Scams: Fall 2024 Biannual Threats Report, released end of October, highlights emerging threats and scams targeting the payment ecosystem, emphasizing the heightened complexity of fraud schemes and the availability of AI-driven tools. in H1 2024 compared to H2 2023.

Ransomware 108

Ransomware Scams Data Breach AI 108

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 123

Deepfake APACS Scams Authentication 123

Fintech Finance

DECEMBER 6, 2024

Using device-based biometrics, such as fingerprints or facial scans, payment passkeys replace other authentication methods like one-time passwords (OTPs) to make online transactions not only faster and more convenient, but also more secure against fraud and scams.

Visa 98

Visa Authentication Scams Payments 98

PYMNTS

APRIL 3, 2018

Experts say an employee phishing scam is likely to blame for the data breach affecting millions of Saks Fifth Avenue and Lord & Taylor payment cards. Separate reports by the Associated Press also pointed to an email phishing scam as the likely culprit.

Phishing 51

Phishing Breach Data Breach Scams 51

PYMNTS

JUNE 1, 2020

Google issued a stark warning last week about the state of cybersecurity: Phishing attacks are on the rise and continue to take advantage of vulnerabilities resulting from the global pandemic. As the threat of B2B payments fraud persists, PYMNTS looks at the data behind some of the other latest cases of such digital scams.

Phishing 59

Phishing Continuity Data Breach Cybersecurity 59

PYMNTS

FEBRUARY 12, 2020

As for the scams themselves, those varied widely both in terms of tactics and targets. Phishing/vishing/smishing/pharming, non-payment/non-delivery, extortion and personal data breaches were among the favored attack patterns last year. And while the BEC is not the most common form scam, it is a lucrative one.

Business Email Compromise 101

Business Email Compromise FBI Email Compromise Scams 101

PYMNTS

DECEMBER 3, 2018

Signet Jewelers, the company that owns Jared and Kay Jewelers, has fixed a massive data breach that allowed anyone to view the order information of other customers, including a home address and the last four digits of a purchaser’s credit card, according to a Monday (December 3) report. That would be a pretty convincing scam.

Data Breach 57

Data Breach Breach Consumer Credit Cards 57

PYMNTS

JULY 24, 2020

It appears that third-party bad actors were able to use usernames and passwords that were compromised in previous data breaches of other websites and apps to login to some Instacart accounts,” Instacart wrote. “In We are not aware of any data breach at this time,” an Instacart spokesperson said. “We

Accounts 75

Accounts Compromise Data Breach Phishing 75

FICO

FEBRUARY 9, 2021

This uncertainty is now fuelling a rise in Brexit scams. Who Are the Targets of Brexit Scams? Fraudsters are only limited by their imagination and with Brexit scams they target both European and UK citizens. This is where the door is left ajar and fraudsters can spread misinformation and perpetrate their scams. .

Scams 52

Scams Tax Scams Account Takeovers Breach 52

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

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. million per incident. Then multiply that by the 4.1 The figures are staggering.

Data Breach 57

Data Breach Phishing Breach Bots 57

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.

Data Security 54

Data Security Governance Government Data Breach 54

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.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

SEPTEMBER 18, 2017

In the wake of the massive data breach at Equifax , the embattled credit scoring company announced that the Chief Information Officer, David Webb, and the chief security officer, Susan Mauldin, will both retire. These moves come after the company disclosed a major data breach in which 143 million U.S.

Breach 66

Breach Risk Federal Trade Commission Data Breach 66

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 98

Visa APACS Transactions Authentication 98

PYMNTS

FEBRUARY 8, 2019

IBM data said the average cost of a data breach is $3.86 Rising frustrations with passwords have churned up excitement over sophisticated technologies, like biometrics, to safeguard data. In another, phishing scams will fraudulently request an employee login to Uber or LinkedIn to steal those credentials.

Phishing 66

Phishing Payment APIs and Integration Credential MFA 66

Stax

MARCH 4, 2024

Taking precautions to implement security measures like firewalls and cybersecurity training helps to protect cardholder data and other sensitive information from cybercriminals. It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

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. The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

APRIL 11, 2017

But as Coupa is looking to make strategic acquisitions and strengthen its service offerings, the company hit a speed bump last month when the firm was hit by a data breach that exposed IRS W-2 payroll forms of its workers. “A Coupa had 652 employees as of the time the news of the data breach emerged.

Data Breach 46

Data Breach Phishing Scams Breach 46

PYMNTS

JANUARY 29, 2019

In its 2019 Data Privacy Benchmark Study, published last week, Cisco found that the combination of security best practices and investment in cybersecurity technology correlates to a lessened impact from data breaches.

Cybersecurity 59

Cybersecurity Data Breach Phishing Privacy 59

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. Netflix , for one, is currently warning its customers of an email scam designed to steal payment details from users. Fraud is rampant and thriving.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

PYMNTS

JANUARY 26, 2021

These employees do not generally willingly collaborate with hackers as inside actors but more often inadvertently surrender their login data through phishing scams. Phishing is the most common technique by which this happens, as a single phishing response from any employee can open a door for a hacker.”.

Phishing 70

Phishing Breach Fraud Detection Origination 70

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

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. In an article penned for JD Supra by law firm Ogletree, Deakins, Nash, Smoak & Stewart, P.C.,

Direct Deposit 48

Direct Deposit Payroll Scams Due Diligence 48

PYMNTS

MAY 12, 2017

This consumer concern translates to a decrease in confidence in large organizations—which is then exacerbated by data breaches and other security events. percent of total users) were affected by an email phishing scam. percent of total users) were affected by an email phishing scam.

Business Email Compromise 51

Business Email Compromise ATM Phishing FBI 51

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

PYMNTS

FEBRUARY 3, 2020

Cybercriminals have more opportunities than ever to swipe debit card numbers and PINs from online consumers, and false websites, large-scale data breaches and skimming tools can compromise account information. Fraudsters are increasingly savvy, though, and retailers cannot afford to relax much. .

Debit Card 52

Debit Card Assessments Data Breach Online and Mobile Banking 52

The Fintech Times

JUNE 20, 2024

Confronting modern cyber risks in financial services David Atkinson, CEO, SenseOn Entrusted with the personal data of billions, financial institutions face a relentless barrage of cyber threats, amplified by the proliferation of internet banking , mobile applications and instant payment systems.

Risk 59

Risk Cybersecurity Data Breach Ransomware 59

PYMNTS

MARCH 1, 2017

Most recently, the tech giant presented new research at the cybersecurity gathering of the RSA Conference, held earlier this month, highlighting just how vulnerable corporate inboxes are to phishing scams. Business email compromise scams can be especially lucrative, enabling a hacker to gain access to accounting departments.

Cybersecurity 48

Cybersecurity Phishing Email Compromise Breach 48

PYMNTS

MARCH 18, 2019

As the payroll function deepens its data-sharing capabilities, corporates must pay attention to the risks of employee and employer data security, as well as the threat of payroll fraud. “Education is the number-one way employers can protect their payroll data.” ” he said. ” he said. ”

Payroll 64

Payroll API Payment APIs and Integration Data Breach 64

PYMNTS

FEBRUARY 2, 2017

When security experts discuss employees as potential sources of data breaches in the enterprise, it is often assumed that these security lapses are mistakes. But a new report is warning that, sometimes, an employee may be enticed to deliberately divulge sensitive corporate data to hackers. Reports Wednesday (Feb. 1) said U.S.

Data Breach 49

Data Breach Breach Phishing Scams 49

PYMNTS

JULY 25, 2019

Banking customers are affected by attacks ranging from phishing schemes to identity scams, and it is still up to FIs to provide accurate and real-time protection regardless of where their customers are located. A lot of the fraud today happens online, [and] a lot of the bigger data breaches happen online. operations.

Online and Mobile Banking 65

Online and Mobile Banking Data Breach Breach Phishing 65

PYMNTS

SEPTEMBER 30, 2016

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S. When Updating Goes Bad.

Security 76

Security Breach Data Breach Cybersecurity 76

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

FEBRUARY 20, 2019

Citing 2018 data from Verizon, Mastercard noted research that suggested the majority of cyberattacks are actually targeted at SMBs, ranging from phishing scams and the Business Email Compromise (BEC) to malware and ransomware attacks. In a press release on Tuesday (Feb.

Cybersecurity 56

Cybersecurity Visa Data Breach Small Business 56