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

Exact Payments

JULY 1, 2024

For cookie hijacking, HSTS enforces secure connections, protecting users from attackers who might steal sensitive cookies sent over insecure links. Cookies often contain session data that can authenticate a user to a website, and securing these is crucial to preventing identity theft.

Data Security 52

Data Security Security Encryption Payment APIs and Integration 52

Fi911

MARCH 26, 2024

Tokenization is a security measure that swaps sensitive data with a random number or “token.” This token holds no traceable connection to the real data, offering optimal data security for merchants and cardholders alike. Meanwhile, sensitive cardholder data is swapped with a unique, single-use token.

PCI DSS 100

PCI DSS Encryption Origination Data Security 100

VISTA InfoSec

JULY 5, 2023

Data security has become an essential aspect of our lives and is more crucial than ever before. In the healthcare industry, organizations are entrusted with a plethora of sensitive information, including PHI, PII, and financial data. What is data security in healthcare? million between May 2020 and March 2021.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Fi911

MAY 7, 2024

Best practices for merchants include addressing concerns from processors or acquiring banks promptly, strengthening their data security measures, devising strategies for chargeback prevention, and managing chargeback risk effectively. How Do Merchants Avoid Being Added to the Terminated Merchant File?

PCI DSS 95

PCI DSS Processors Compromise Identity Theft 95

PYMNTS

SEPTEMBER 13, 2018

In comparison, only 45 percent said they would prefer an authentication method due to its tight data security. At the same time, though, the risk of identity theft and fraud is at an all-time high.

Security 59

Security Identity Theft Authentication Breach 59

PYMNTS

AUGUST 5, 2020

Guarding against this method of fraud must therefore represent a top priority for such companies, especially because fraudsters are also using these bots to data scrape personal and financial information from these servers that can be used for identity theft at a later date.

Bots 111

Bots Authentication Identity Theft Void 111

PYMNTS

OCTOBER 12, 2016

There continues to be concern over identity theft and data security, said the executive, and some parameters to this largely unregulated industry can help mollify those concerns.

Finance 72

Finance Identity Theft Payroll Credit Cards 72

Finovate

APRIL 9, 2024

Since it was founded in 2015, Quavo has helped recover nearly $660 million for 6+ million users Disputes-as-a-Service company Quavo Fraud & Disputes announced that it has teamed up with data warehouse-as-a-service provider Snowflake this week. ” Quavo will integrate Quavo Fraud & Disputes (QFD) with Snowflake’s platform.

Disputes 59

Disputes Identity Theft Financial Crimes Data Security 59

PYMNTS

DECEMBER 27, 2019

Wawa said the malicious software had been collecting credit and debit card information surreptitiously since March, as well as names of customers and other data. In response to the breaches, Wawa is offering free credit monitoring and identity theft prevention help.

Data Breach 52

Data Breach Breach Identity Theft Debit Card 52

PYMNTS

MARCH 18, 2019

To recap, that legislation, passed in June, requires credit monitoring and identity theft protection after breaches, among other mandates. Businesses must comply with data deletion requests, and must disclose the information they collect and why that data is being collected.

Privacy 49

Privacy Regs Identity Theft Data Breach 49

PYMNTS

OCTOBER 9, 2020

state employment programs to phishing scams with bad actors claiming to represent retailers — such as luxury brand Vince Camuto in one recent email scam — to good old-fashioned identity theft. Digital-first banks, insurance firms and merchants are tasked with protecting against the schemes to keep their customers’ data secure.

Verification 83

Verification Consumer Online and Mobile Banking Scams 83

PYMNTS

SEPTEMBER 27, 2018

In addition, the panel noted that Aadhaar law must be able to provide compensation for anyone who suffers data or identity theft due to lapses on the part of UIDAI, or Unique Identification Authority of India, which manages the Aadhaar program. “I

Identity Theft 62

Identity Theft Privacy Verification Rules 62

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. A crucial aspect of risk management involves adhering to the Payment Card Industry Data Security Standard (PCI DSS) , which sets stringent guidelines for securing payment transactions and protecting cardholder information.

Risk Management 97

Risk Management Risk PCI DSS Process 97

PYMNTS

APRIL 7, 2017

But the CFPB’s and other regulatory groups’ efforts are by no means a free pass for financial data sharing, and the debate continues about who owns this data, who can share and access it, and whether doing so heightens risk for hacks, privacy breaches or fraud.

Consumer Financial Protection Bureau (CFPB) 76

Consumer Financial Protection Bureau (CFPB) Technology CFPB API 76

Stax

JULY 16, 2024

If merchants are exposed to security vulnerabilities when processing digital payments, the risk of cardholder data falling into the wrong hands increases exponentially. security requirements are. PCI DSS is a set of protocols to be followed by companies that store, process, and transmit cardholder data.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

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.

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

PYMNTS

OCTOBER 29, 2018

Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations.

Fraud Prevention 79

Fraud Prevention Identity Theft Third-Party Service Provider Account Takeovers 79

Clearly Payments

MARCH 22, 2024

Biometric authentication, including fingerprint scanning and facial recognition, provides a highly secure and convenient method for user verification, reducing the risk of fraud and identity theft. Regulatory compliance is another critical aspect of ensuring security and trust in mobile payments.

Contactless Payments 105

Contactless Payments Online and Mobile Banking Mobile Payments Payments 105

The Payments Association

OCTOBER 4, 2024

Security concerns and fraud prevention One of the most significant challenges is the persistent threat of fraud. Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches.

Cross-Border Payments 88

Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

PYMNTS

APRIL 5, 2017

2016 was a record year for data breaches, with the Identity Theft Resource Center reporting 1,093 in the U.S.,” The EMV certification comes just a couple weeks after Bluefin announced a new partnership with international online payments and fraud and data management solutions provider First Atlantic Commerce (FAC).

EMV 40

EMV Point-of-Sale (POS) Identity Theft Data Breach 40

Stax

AUGUST 22, 2024

They always seem to adapt and evolve their techniques even when security measures are in place. Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. They also need to have strong data security protocols in place.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

JANUARY 16, 2020

A Multi-Layered Fraud Approach Critical To Consumer Data Protection. Synthetic identity theft — and all its subsequent fraud events — remains a treasured tactic among cybercriminals, and even today’s AI has trouble detecting it.

AI 53

AI Identity Theft Authentication Verification 53

PYMNTS

JANUARY 20, 2020

Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Each of these tools has strengths and weaknesses when it comes to data security and protection, however.

Identity Theft 54

Identity Theft Fraud Prevention AI Scams 54

PYMNTS

JULY 31, 2019

consumers are afraid hackers might access their personal, credit card or financial information, and that 67 percent were afraid of identity theft. These figures considerably outweighed those of non-digital crimes like burglary and car theft, which came in at 40 percent and 37 percent, respectively. .

Credit Union 49

Credit Union AI Identity Theft Money Laundering 49

Segpay

DECEMBER 13, 2024

ID Fraud Risks: With identity data breaches on the rise, organizations face the challenge of protecting sensitive data that could lead to identity theft. By applying strict privacy protections in identity management processes, organizations can reduce their exposure to these risks.

Privacy 105

Privacy Compliance CCPA Authentication 105

Stax

JANUARY 28, 2025

Enhanced securitytokenization and two-factor authentication reduces the risk of data breaches As we mentioned earlier, Click to Pay uses a data security approach called tokenization to protect sensitive financial data from malevolent actors.

Payment APIs and Integration 68

Payment APIs and Integration Online and Mobile Banking Payment Gateways Gateways 68

PYMNTS

SEPTEMBER 6, 2019

Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft. How Do Platforms Authenticate? percent of the former and 24.3 Regulations and Compliance.

Authentication 50

Authentication Economy Security Identity Theft 50

PYMNTS

FEBRUARY 21, 2020

Business identity theft is used to launch everything from purchasing plan scams to tax and credit card application fraud, and it caused an estimated $137 million in damages in 2017. False Positives and Data Security. Detecting Fraudsters.

B2B 61

B2B Scams Credential B2C 61

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. Additionally, merchants should protect themselves from security breaches by backing up their data.

Encryption 52

Encryption Data Encryption Identity Theft Cybersecurity 52

PYMNTS

MARCH 2, 2018

It should be noted, too, that what was stripped out of those adjusted numbers, of course, was, and is, the costs related to the breach , spanning identity theft protection and credit monitoring. But the residue of at least some of those efforts showed through on the legal and professional services line, which tallied $26.5

Breach 41

Breach Data Breach Identity Theft Data Security 41

PYMNTS

JULY 25, 2017

At 71 percent, as estimated by one secure payments processing firm, identity theft is the most common type of fraud. Heron pointed to the Payment Card Industry Data Security Standards (PCIDSS) as food for thought for retailers and merchants — a certification that requires mindfulness and proactive efforts.

EMV 48

EMV Identity Theft Mitigation Breach 48

FICO

DECEMBER 5, 2022

million identity theft reports filed in 2021, many of which relate back to banks and lenders. And though many consumers feel comfortable sharing their unfolding life stories on social media, there remains a pervasive belief that data security just isn’t strong enough in digital channels. million consumer fraud and 1.4

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Security 52

Stax

AUGUST 20, 2024

Data security and privacy concerns Collecting your customers’ data for personalized services poses serious threats if the data is breached. Financial institutions and their partners must have data security standards in place to avoid getting compromised.

Embedded Finance 88

Embedded Finance Finance FinTech Payment APIs and Integration 88

Stax

APRIL 30, 2024

Highest level of PCI security compliance that keeps payment data secure. Security and Compliance in Merchant Processing Any business that accepts credit and debit card payments must be compliant with the Payment Card Industry Data Security Standards (PCI DSS).

Process 88

Process Online and Mobile Banking PCI DSS Debit Card 88

PYMNTS

AUGUST 20, 2019

In early 2019, PYMNTS conducted a survey of 3,585 consumers to learn about how they used sharing economy platforms in their everyday lives and how those platforms were taking measures to defend against digital fraud and identity theft.

Economy 64

Economy Consumer Verification Authentication 64

Clearly Payments

MARCH 4, 2024

CardSystems Solutions Data Breach (2005) In 2005, CardSystems Solutions found itself at the epicenter of a seismic data breach that rippled across the financial sector. The breach exposed the sensitive credit card information of millions, igniting concerns over data security and regulatory oversight.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59