Fintech News

APRIL 22, 2024

The consequences of such attacks are severe, leading to financial losses, identity theft, and reputational damage for both users and financial institutions. To ensure user financial information remains protected at all times, data encryption scrambles sensitive data within mobile applications.

Phishing 116

Phishing Security Blocks Cybersecurity 116

PYMNTS

OCTOBER 26, 2016

While POS solutions certainly have their place, Intel is encouraging a bigger dialogue around industry-wide standards that can do more than just check the box of PCI compliance to truly help protect consumers against identity theft and payments fraud. to provide additional layers of security. .

Payment Security 81

Payment Security Security Identity Theft Compromise 81

Stax

JANUARY 28, 2025

Security compliance: ensure that all financial information is securely transmitted using tokenization and strong encryption across the transaction, and that the provider is in full compliance with security standards like PCI DSS. Your testing should check for security compliance, technical performance, and mobile responsiveness.

Payment APIs and Integration 68

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

PYMNTS

DECEMBER 16, 2018

To protect users, mobile web browsers and apps typically use the Transport Layer Security protocol to ensure data is encrypted before being sent over the internet. Apps that don’t have the proper certificate could fall victim to these man-in-the-middle attacks, even if the information is encrypted.

Security 55

Security Identity Theft Settlement Encryption 55

Segpay

DECEMBER 13, 2024

If a breach occurs, identity data, once compromised, is hard to restore. For example, a leaked password can be changed, but a stolen fingerprint cannot, underscoring the need for secure storage and encryption practices in identity management. What are the important technologies for data privacy?

Privacy 105

Privacy Compliance CCPA Authentication 105

PYMNTS

MARCH 26, 2019

The crux of the case is whether people whose data was stolen can bring a lawsuit against a company even if the data was not used by any other companies or criminals for things like identity theft or fake charges. Zappos ’ argument is that because customers weren’t harmed by the data breach, a federal lawsuit should not be warranted.

Identity Theft 49

Identity Theft Data Breach Breach Encryption 49

Exact Payments

JULY 1, 2024

Our software partners transmit merchant data to our APIs using Transport Layer Security (TLS) encryption. TLS encrypts data during transit and offers enhanced security features to combat man-in-the-middle (MiTM) attacks. This approach enhances security and complies with the best data encryption and key management practices.

Data Security 52

Data Security Security Encryption Payment APIs and Integration 52

Clearly Payments

MARCH 22, 2024

At the heart of mobile payment systems are Near Field Communication (NFC), Quick Response (QR) codes, and secure elements such as encryption and tokenization. Encryption ensures that data transmitted during a transaction is scrambled and unreadable to unauthorized parties. Security is a critical component of mobile payment technology.

Contactless Payments 105

Contactless Payments Online and Mobile Banking Mobile Payments Payments 105

VISTA InfoSec

AUGUST 22, 2023

Unauthorized Access and Misuse: Insufficient protection of biometric data exposes it to unauthorized access and misuse, potentially resulting in identity theft or fraud. Addressing these risks necessitates robust security measures, encryption, access controls, and breach response plans.

Privacy 130

Privacy Compliance Legal Best Practices 130

VISTA InfoSec

JUNE 21, 2023

You can also include links to up-to-date information on identity theft if appropriate. Also, adopt advanced encryption and firewalls, impose more controlled access to systems, and liaise with legal teams where needed to ensure all areas of concern are addressed. 5 - (2 votes)

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Regularly updating security protocols, such as requiring strong customer authentication methods and maintaining up-to-date encryption standards, is essential, too.

Account Takeovers 97

Account Takeovers Fraud Detection Phishing Fraud Prevention 97

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. Encrypt and Back-Up Data. Data encryption is the most effective way of protecting yourself from cyber fraud.

Encryption 52

Encryption Data Encryption Identity Theft Cybersecurity 52

PYMNTS

FEBRUARY 13, 2020

Though there is much that individual firms and the industry as a whole can do to stem the hemorrhage of sensitive data into the hands of cybercriminals – via better encryption, storage and anonymization of data – there is a staggering amount of data already out there from previous breaches that is useful to fraudsters.

Authentication 98

Authentication Bots Identity Theft Mitigation 98

Stax

JULY 16, 2024

Compliance with PCI Data Security Standard regulations prevents shortcomings and vulnerabilities in payment processing, thereby reducing the risk of fraud, identity theft, and cyberattacks. The best way to protect data as it is being transmitted over a network, especially one that is public and open, is to encrypt it.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

PYMNTS

OCTOBER 9, 2020

Some bad actors are employing the encryption tools used by social messaging app Telegram , for example, in order to hide stolen payment details or personal data such as email addresses from detection. Skimming is a tried-and-true tactic, but fraudsters are also experimenting with new tools.

Automation 75

Automation Debit Card Identity Theft Contactless Payments 75

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. Bluefin Payment Systems introduced the first PCI-validated Point-to-Point Encryption (P2PE) Solution in North America in March 2014 and was one of only 4 solutions worldwide.

Data Breach 47

Data Breach Third Party Vendors Encryption Identity Theft 47

Center for Payments

FEBRUARY 10, 2023

By Madison Howard, Manager, Member Communications, EPCOR Of those who have experienced identity theft, which happens when someone utilizes your personal information to commit fraud, many share that it is an overwhelming and mentally draining experience. Watch your mailbox.

Identity Theft 40

Identity Theft Federal Trade Commission Social Security Privacy 40

Fintech Finance

APRIL 9, 2024

With experts estimating that there is a new case of identity theft every 22 seconds , and anticipating this ratio to worsen this year, the MDES helps to protect cardholders from becoming victims as it converts their most sensitive information into non-sensitive digital tokens. We are delighted to announce our accreditation.”

Visa 52

Visa PCI DSS Accreditation Identity Theft 52

Stax

JULY 9, 2024

Advanced encryption techniques are used to protect sensitive data during transmission, ensuring that personal and financial information remains confidential. Compliance requires implementing robust security measures, such as encryption and authentication protocols, regularly auditing processes, and staying updated on regulatory changes.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

FICO

FEBRUARY 16, 2023

By using this contactless payment method, consumers can take advantage of tokenization and encryption of card details, making it much harder for criminals to capture sensitive card information. Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications.

Compromise 98

Compromise Debit Card Scams Smishing 98

EBizCharge

MARCH 18, 2024

It mandates prompt disclosure of breaches to affected parties, enabling them to take necessary steps to mitigate potential harm, such as identity theft or fraud. Unauthorized access to this sensitive information can lead to privacy breaches, identity theft, and medical fraud.

Venmo 52

Venmo Zelle Identity Theft Privacy 52

PYMNTS

JANUARY 27, 2017

It’s shocking that a company of Yahoo’s size and long history could fall prey to such attacks and that there were no countermeasures, such as data encryption, in place to prevent them.”. Encrypting data in place can help mitigate the damage done when breaches do occur,” Chiu noted. America’s Data Breach Problem.

Data Breach 71

Data Breach Breach Security Risk 71

PYMNTS

MAY 13, 2016

When a user’s payment card is inserted into the reader, the device utilizes the encryption technology built into the chip-enabled card to generate unique private key signatures and unlock online accounts and personal data while the card is in use.

CHIPS 40

CHIPS Chip Cards Identity Theft Online and Mobile Banking 40

PYMNTS

APRIL 5, 2017

Bluefin Payment Systems, the provider of PCI-validated point-to-point encryption (P2PE) payment solutions for retail, health care and higher education, announced Tuesday (March 4) the EMV certification of its PayConex Plus Payment Platform by First Data, the global payment technology company.

EMV 40

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

PYMNTS

OCTOBER 23, 2018

One is the increasing prospect of fraud, of criminals breaking into healthcare IT systems in search of patient data, the scope of which can enable identity theft in ways that are relatively easier than in other sectors. That said, the move to digital can spark new challenges for medical offices.

Blockchain 69

Blockchain Identity Theft Credit Cards Data Breach 69

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. Here are some key types of risks that merchants should be mindful of in payment processing: Fraud Risk: Fraud risk involves unauthorized or deceptive activities aimed at exploiting the payment system for financial gain.

Risk Management 97

Risk Management Risk PCI DSS Process 97

PYMNTS

JUNE 12, 2019

In other safeguard initiatives, some solution providers will store supplier bank account data in a highly-encrypted and secure network, taking the onus off businesses to do this themselves and reducing risk.

Accounts 62

Accounts Email Compromise Same Day ACH Compromise 62

PYMNTS

DECEMBER 21, 2016

customers found out that their personal information has been in the hands of hackers for the last few years, mostly due to out-of-date encryption and an apparent unwillingness on Yahoo!’s About a week ago, a billion (with a “b”) Yahoo! s part to believe their systems had been compromised. This, we should note, was the second mega-hack Yahoo!

Breach 52

Breach EMV Compromise Push-to-Card 52

Payment Savvy

AUGUST 4, 2021

For your security, be sure you are submitting documentation in an encrypted manner. It’s also wise to know who you are submitting items to in order to prevent fraud or identity theft. Having all requested paperwork ready to roll ensures you will quickly move through the review process. Dial-in Payment Acceptance.

Accounts 52

Accounts Identity Theft Underwriting ACH 52

Stax

AUGUST 22, 2024

Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. You need firewalls, encryptions, intrusion detection, and other security measures in your technology stack. They always seem to adapt and evolve their techniques even when security measures are in place.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Core

FEBRUARY 6, 2024

Government fraud in payments can involve several practices, including: Altered documentation Embezzlement False billing Forgery Identity theft Kickbacks Unauthorized use of government accounts Unsubstantiated reimbursement Essentially, government fraud in payments encompasses any practice aimed at diverting public funds for unauthorized purposes.

Best Practices 52

Best Practices Government Governance Fraud Prevention 52

PYMNTS

SEPTEMBER 9, 2019

One might have thought the low watermark for digital security headlines came the week before last, with the near-continuous revelations that Jack Dorsey had fallen victim to a SIM swap identity theft attack and Apple had accidentally left a large exploit in iOS for the last two or so years.

AI 40

AI Security Identity Theft Research 40

Nanonets

SEPTEMBER 28, 2023

However, contemporary payment methods, such as EMV chips and contactless NFC payments, transmit encrypted codes rather than card numbers to enhance transaction security. Also, be sure to keep your computer security up-to-date to help protect yourself from identity theft and other online threats.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wires 52

Nanonets

SEPTEMBER 28, 2023

However, contemporary payment methods, such as EMV chips and contactless NFC payments, transmit encrypted codes rather than card numbers to enhance transaction security. Also, be sure to keep your computer security up-to-date to help protect yourself from identity theft and other online threats.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wires 52

Nanonets

SEPTEMBER 17, 2024

Fraud detection: A periodic review of bank statements can help financial institutions detect unauthorized transactions, fraud, and identity theft early. Many users use free online tools to remove encryption and edit the content. Their absence could indicate a fake.

Fraud Detection 52

Fraud Detection Online and Mobile Banking Verification AI 52

Seon

JUNE 15, 2023

Accordingly, BEC is not just limited to account takeovers and identity theft, but can also be a means for fraudsters to become imposters looking to subject the target company to further data breaches. Fraudsters may do this by impersonating the organization’s CEO (check out the CEO fraud section below to learn more about this).

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

NFCW

MARCH 20, 2025

. “The digital card holds the same validity as its plastic counterpart but boasts cutting-edge security technology such as blockchain and encryption to enhance security. “A user is limited to one mobile ID on one smartphone in his or her name, and biometric verification is required to prevent identity theft.

Government 78

Government Governance Identity Theft Encryption 78