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. With fraudsters getting bolder, banks, retailers and consumers are recognizing that stronger verification is now a necessity. Fraud is rampant and thriving.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

PYMNTS

NOVEMBER 13, 2018

Maybe so, in the quest for digital identity verification. The Wall Street Journal reported Monday (Nov 12) that a number of banks, ranging from JPMorgan Chase & Co to Citigroup , are eyeing partnerships with a series of government agencies in a quest to make digital ID verification a bit more streamlined and accurate.

Social Security 51

Social Security Verification Data Breach Blocks 51

PYMNTS

APRIL 5, 2019

AeroGrow explained that customers who bought something through its website between October 29, 2018 and March 4, 2019 had their credit card number, expiration date and card verification value (the security code) stolen by the malware. ” This is the latest malware attack on a company.

Credit Cards 63

Credit Cards Law Enforcement Compromise Data Breach 63

PYMNTS

AUGUST 8, 2019

You can thank the information stolen during data breaches for that, he said: “They essentially were working from an answer key.”. As Meier told it to PYMNTS, that provides an opening for a concept called gradual verification. The system helps you collect the least amount of data from the largest number of users,” he said. “The

Security 58

Security Verification Online and Mobile Banking Breach 58

PYMNTS

NOVEMBER 6, 2019

Verification Relies on Existing Information . Identity verification is crucial for any financial product, but it is especially so for one involving loans, as botching authentication methods could lead Affirm to charge either a phantom or the wrong person, having its money vanish into the ether. “The Fraud Faces the Machine.

Verification 40

Verification Fraud Prevention Authentication Credit Cards 40

PYMNTS

JUNE 16, 2019

After the massive Equifax data breach , a federal watchdog is warning the government against relying on credit agencies to verify the identifies of individuals using its services. But GAO added that two of the six agencies that the watchdog reviewed have eliminated knowledge-based verification. Agencies like the U.S.

Posting 43

Posting Verification Breach Data Breach 43

FICO

JULY 7, 2020

Beware of people claiming to be part of reputable organizations, like research firms or government agencies, asking you for personal information like bank card numbers or your Social Security number. Use the help offered by breached organizations. Fake Profiles. In one example of this attack, criminals impersonate the U.S.

Scams 97

Scams Smishing Phishing IRS 97

PYMNTS

APRIL 30, 2019

We at PYMNTS come here not to bury biometrics, but to explore another way of bringing identification and age verification to the masses — a method that, in the view of Alain Meier, CEO of Cognito , could help eCommerce operators stay ahead of regulators and otherwise offer relatively friction-free authentication to consumers around the world.

Verification 64

Verification Authentication Online and Mobile Banking Law Enforcement 64

PYMNTS

JULY 15, 2020

With data showing that 45 percent of all 2019 data breaches — and there were a lot of them — involved medical records theft, costing healthcare providers $429 per compromised patient record or nearly $18 billion, organizations can’t be confused about their value to cyberthieves. Medical Records = Dark Web Gold.

Data Breach 58

Data Breach CCPA Social Security Breach 58

PYMNTS

OCTOBER 7, 2019

If we had a data breach, it [would] probably mean [we’d be] out of business,” said Caton Hanson, Nav’s co-founder and chief legal officer. As part of the sign-up [process], the user provides us with [their] full name, address and Social Security number.

Verification 40

Verification Authentication Small Business Checks 40

PYMNTS

DECEMBER 3, 2019

Digital identities are growing more important and omnipresent in everyday life, and the need to keep them secure grows more pressing by the day. Financial information, Social Security numbers and a host of other private data is wrapped up in each person’s digital identity, making a potential data breach catastrophic.

Verification 52

Verification Authentication Breach Data Breach 52

PYMNTS

SEPTEMBER 22, 2017

The Equifax breach lingers like the remnants of a bad lunch, making us all feel queasy about which data has been compromised and who just might be developing new ways to trick us out of money or privacy — now and in the future. We employ a large team of verification experts to visually inspect suspect verification requests.

Online and Mobile Banking 56

Online and Mobile Banking Verification Data Breach Breach 56

PYMNTS

AUGUST 7, 2019

The digital ID industry is devoting an immense amount of effort and capital to protecting digital identities as data breaches and privacy concerns continue to make headlines on a regular basis. Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government.

Multifactor Authentication 47

Multifactor Authentication Governance Government Data Breach 47

PYMNTS

SEPTEMBER 11, 2017

Equifax, which is one of the triumvirate of major consumer credit reporting agencies, said last week that hackers had been able to access data across 143 million consumer accounts, or more than half the country’s adult population. The data exposed included driver’s license and Social Security numbers. .

Breach 54

Breach Social Security Data Breach Risk 54

Clearly Payments

JANUARY 8, 2024

Security, Compliance, and Regulatory Risk: Cybersecurity risk involves the threat of data breaches and unauthorized access to sensitive payment information. Hackers may exploit vulnerabilities in the merchant’s system to gain access to customer data.

Risk Management 68

Risk Management Risk PCI DSS Process 68

PYMNTS

JULY 28, 2020

Fraudsters could pair one individual’s Social Security number with another’s passport information, for example — and these IDs can include some fake details as well. . Cybercriminals often use these identities to set up bank accounts and apply for credit cards and loans.

Online and Mobile Banking 53

Online and Mobile Banking Social Security Identity Theft Fraud Detection 53

PYMNTS

MAY 31, 2018

However, under GDPR, it’s all about consent, so if consumers want to take back their data, organizations cannot retain or use it, even to protect them. As data breaches pile up, it’s more likely than not that any given individual’s sensitive information is floating around somewhere out there on the dark web. Secure Signaling.

ATM 43

ATM Consumer Data Breach Credential 43

Stax

NOVEMBER 27, 2023

Of course, financial criminal activity doesn’t have to just lead to monetary loss—it could also lead to a data breach of customer information. Introduce the customer identification program (CIP) Basically, the CIP requires that companies get four pieces of identifying information about their client for identity verification.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

Basis Theory

NOVEMBER 12, 2024

Today, we can tokenize anything from credit card primary account numbers (PAN) to one-time debit card transactions or social security numbers. The token vault offers a secure and PCI-compliant location to store original data (e.g., credit card or social security numbers).

Encryption 88

Encryption Payment APIs and Integration PCI DSS Returns 88

PYMNTS

JULY 27, 2020

Where Standard ID Verification Falls Short. Troves of personal data are publicly available on social media or have been leaked from data breaches, Kelly noted, making it easy for bad actors to provide seemingly valid information. Device Authentication.

Credit Union 58

Credit Union Authentication Credential Assessments 58

PYMNTS

MARCH 2, 2018

Thursday was the same day the company said that more individuals in the United States were hit by last year’s data breach than had been initially estimated. That’s a lot of compromised data, of course. And in terms of the data that was taken, hackers accessed driver’s license data but not Social Security numbers.

Breach 41

Breach Data Breach Identity Theft Data Security 41

PYMNTS

AUGUST 15, 2019

In the days before eCommerce, before data breaches grabbed everything from Social Security numbers to passwords, before fraudsters began to craft synthetic identities, strong customer authentication was rather simple. These data points, he said, fall under the designation of static PII.

Authentication 53

Authentication Compromise Addressing Regulations 53

PYMNTS

NOVEMBER 15, 2017

Put another way, and to paraphrase a hockey great: When it comes to identity verification and the technology that comes with it, FIs need to skate where the technology is headed, not where it has been. It makes us comfortable with new ways of authentication and new ways of verification.”.

Verification 40

Verification Authentication Online and Mobile Banking Enrollments 40

PYMNTS

JANUARY 17, 2017

That, Ayers said, also makes reliance on traditional identifiable data, such as dates of birth, Social Security numbers (SSNs) and even addresses, not as useful for identifying millennials. But, Webster questioned, can a longstanding phone number really play the same verification role as an SSN?

Verification 45

Verification Addressing Online and Mobile Banking Authentication 45

PYMNTS

SEPTEMBER 28, 2017

But in the world of identification fraud, there’s a greater sea change afoot, one that stretches farther than the impact on any one firm, or even the millions of adults targeted in the most brazen of breaches. GIACT uses non-traditional data, and we continue to evolve this,” he told Webster. and have proven to be effective.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

PYMNTS

JULY 9, 2018

Between the Equifax hack last year, the Exactis hack last month and the thousands of other data breaches, big and small, that happened between them (not to mention before them), the average American consumer can rest assured that some or all of their personal data is floating around the dark web these days.

Fraud Detection 44

Fraud Detection Enrollments Addressing Verification 44

PYMNTS

JULY 5, 2018

The problems of security, data breaches, identity verification and user authentication just keep getting bigger. When a consumer signs up for a service, they must enter their name, email address, phone number, Social Security number and more.

EMV 41

EMV Mitigation Credit Cards Data Breach 41

PYMNTS

AUGUST 22, 2018

Earlier this month, cable company Comcast Xfinity was in the news for accidentally exposing partial home addresses and Social Security numbers of more than 26 million customers, according to reports, thanks in large part to a trio of security loopholes. Around The Digital Identity World.

Fraud Prevention 40

Fraud Prevention Security Social Security Encryption 40

PYMNTS

SEPTEMBER 18, 2017

And the data that was stolen, he added, is very much the type that is used when someone is talking on the phone, dialing straight in, so to speak, to identity theft. And here’s a curio: The most basic building block of identity here in the States, the Social Security number, comes on cards that clearly state, “not for identification purposes.”

Breach 46

Breach Identity Theft Credential Authentication 46

PYMNTS

MAY 16, 2018

How often does one get to read that sentence in this modern era of data breaches and hacks? But truly, says Pappano, fraud really isn’t much of an issue in gaming due to the heavy identity verification process at signup as well as stricter authentication whenever money is moved in or out of the gaming or wagering account.

Regs 40

Regs Legal Disputes Laws 40

PYMNTS

NOVEMBER 9, 2017

Voices, noted Webster, are easy to spoof and are not secure enough on their own to be used for identity verification. The executive said IntraNext isn’t fielding as many questions following the Equifax data breach as might be expected. He gave the example of a recent call he made to the Social Security administration.

Authentication 41

Authentication MFA Fraud Detection Security 41

PYMNTS

JANUARY 24, 2018

And all the while, data breaches abound as fraudsters ply their trade. In the increasingly digital and mobile age, data useful for authentication purposes might be widely available, or may in fact be rather lacking, depending on the market. This is a step forward in security, as it boosts control of data.

Online and Mobile Banking 46

Online and Mobile Banking Verification Authentication Governance 46

PYMNTS

JANUARY 24, 2018

And all the while, data breaches abound as fraudsters ply their trade. In the increasingly digital and mobile age, data useful for authentication purposes might be widely available, or may in fact be rather lacking, depending on the market. This is a step forward in security, as it boosts control of data.

Online and Mobile Banking 40

Online and Mobile Banking Verification Authentication Governance 40

PYMNTS

JULY 23, 2018

Everything’s fair game, it seems, from names and Social Security numbers (SSNs) to account data, and even info gleaned off social profiles (more on this in a minute). Equifax may have its place as a watershed hack in the annals of data breaches , but it stands as only one of many.

Social Security 41

Social Security Breach Data Breach Debit Card 41

PYMNTS

OCTOBER 5, 2017

You know the drill by now: In a massive data breach, hackers made off with information on 143 million Americans. Among them, as noted by Bloomberg , the idea the Social Security number may not be the safest conduit of identity verification. No, wait, that number is now 145.5

Breach 40

Breach Data Breach Disputes Social Security 40