PYMNTS

APRIL 12, 2020

With governments imposing lockdowns to contain the virus, hackers have been known to pose as banks or other legitimate institutions to try to glean access to people’s private information to use for nefarious means, such as identity theft. Italian law enforcement officials said the country has seen a rise in this kind of activity.

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Data Breach Breach Identity Theft Law Enforcement 122

Fintech Finance

MARCH 5, 2025

In an era where fraud methods are becoming increasingly sophisticated, with phishing, vishing, identity theft, and other forms of fraud, it is essential for financial institutions to have tools that adapt and respond to dynamic threats.

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Fraud Detection AI Fraud Prevention Identity Theft 52

Fintech News

JUNE 6, 2024

Recent phishing and fraudulent cases involving multiple banks in Singapore have highlighted the severity of this issue and the urgent need for banks to enhance their security measures. DBS isn’t the only bank making news for phishing scams. US$129,841).

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Scams Phishing Deepfake Verification 107

PYMNTS

SEPTEMBER 23, 2020

Senior citizens are the demographic group most vulnerable to identity fraud, as they are often not as digitally savvy as their younger counterparts nor as adept in online security best practices. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

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Identity Theft Financial Crimes Technology Crime 83

PYMNTS

AUGUST 21, 2020

These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft. Interactive teller machines (ITMs) offer a variety of services that are normally only available inside a physical branch, like loan applications and cash deposits.

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Blocks Identity Theft ATM Online and Mobile Banking 106

Fintech Review

JANUARY 21, 2025

Phishing attacks, ransomware, and data breaches are increasing in both frequency and sophistication. These technologies ensure that users are who they claim to be, reducing the risk of identity theft. The Growing Threat Landscape in Fintech As fintech grows, so does its attractiveness to cybercriminals.

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Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Account Takeover Fraud Account takeover fraud involves cybercriminals gaining unauthorized access to a victim’s online account, often through the use of stolen login credentials or phishing schemes.

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Account Takeovers Fraud Detection Phishing Fraud Prevention 94

PYMNTS

MAY 19, 2020

SafetyDetective said Natura customers should be vigilant against identity theft, change their account passwords and keep a close eye on their payment card transactions for signs of any suspicious activity. The risk of phishing and phone scams is also raised by the Natura data leak,” Sen said, according to the report.

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Identity Theft Payment APIs and Integration Payment-Related Information Phishing 93

The Payments Association

NOVEMBER 20, 2024

From payment card fraud and identity theft to chargeback fraud and refund fraud, scammers are continuously devising new ways to siphon money away from cardholders and merchants illegally. Finally, AI tools also have applications in identity verification. How will AI tools evolve to combat new threats?

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AI Fraud Detection Identity Theft Account Takeovers 88

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

FEBRUARY 19, 2019

What’s more, fraudsters are getting smarter, building out identities and initiating money transactions that are made to appear as legitimate as possible before making their move. Yet, how can banks protect against identity theft and application fraud with so many details compromised? Inverting the Fraud Approach.

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Identity Theft Data Breach Breach Verification 63

PYMNTS

MAY 21, 2020

Artificial intelligence (AI) and machine learning (ML) can analyze the thousands of transactions banks process each day in real time, and employee education efforts are proving effective in preventing deception via phishing emails or other social engineering techniques. The identity theft rate in 2019 was 46.4 percent of 3.2

Financial Crimes 52

Financial Crimes Crime Identity Theft Federal Trade Commission 52

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.

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Risk Identity Theft Phishing Account Takeovers 52

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

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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Segpay

FEBRUARY 21, 2024

Analyzing patterns and anomalies identifies potential risks associated with identity theft or fraudulent activities. Phishing and Social Engineering Prevention: Phishing and social engineering attacks pose significant cybersecurity threats.

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AI Innovation Fraud Detection Encryption 105

Fintech News

MARCH 25, 2024

This growth suggests that threat actors continued to invest in new methods to target mobile banking apps, developing new tools and techniques to execute fraudulent transactions, steal funds and commit identity theft , the report says. Hook is a type of malicious software specifically designed to target mobile banking apps.

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Mobile Banking Online and Mobile Banking Identity Theft Credential 117

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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PYMNTS

JUNE 25, 2020

Long pled guilty in November of 2019 to a scheme where he committed wire fraud and aggravated identity theft. The charges dated back to 2013, when Long created and deposited checks from the checking accounts of over 375,000 victims, saying that the victims’ banks had authorized the fund transfers.

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PYMNTS

OCTOBER 7, 2020

These bad actors are tapping everything from tried and true phishing schemes to tailored identity theft to scrape data from these digital sites, and not properly protecting against these efforts can lead to significant strain.

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Verification Identity Theft Online and Mobile Banking Authentication 89

PYMNTS

SEPTEMBER 24, 2019

Criminals will get this info through hacking or by social engineering and phishing. Some criminals are also monetizing stolen credit card information through fraudulent merchant accounts to charge victims’ cards, or are simply creating fraudulent user accounts on fintech platforms as part of identity theft or synthetic identity fraud.”.

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Fincen Account Takeovers Identity Theft Financial Crimes 71

PYMNTS

JANUARY 30, 2017

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. This week’s data digest is all about, well, data. 1,093 data breaches hit entities in the U.S.

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Data Security Governance Government Data Breach 54

The Fintech Times

OCTOBER 3, 2024

In the UK, 36 per cent of residents have fallen victim to phishing scams in the last six months alone – leaving digital transformation consultancy Daemon to urge retailers to bolster their cybersecurity efforts. With it becoming so prevalent, online fraud is leaving a lasting impact on trust.

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Cybersecurity Identity Theft Phishing Scams 59

PYMNTS

OCTOBER 14, 2020

According to the October Next-Gen Debit Tracker® , “One recent study found that the number of active phishing sites in the U.S. Card network Visa and other entities warned eCommerce players about emerging skimming attacks that can swipe consumers’ debit or credit information for fraud or identity theft.”.

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Consumer Debit Card Debit Network Identity Theft 73

VISTA InfoSec

JUNE 21, 2023

This could include setting up a fraud alert for credit files, changing passwords, setting up two-factor authentication (2FA), keeping a close eye out for phishing emails or unusual activity in bank accounts. You can also include links to up-to-date information on identity theft if appropriate.

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Data Breach Breach Law Enforcement Cybersecurity 130

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. Like the FTC, QuickBridge emphasized the role of employee training in protecting against cyberattacks.

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FTC Cybersecurity Small Business Federal Trade Commission 73

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

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

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Account Takeovers MFA Fraud Detection Credit Cards 93

PYMNTS

AUGUST 31, 2017

The move was so clumsy that the Redditors who first noticed it assumed it was a phishing scam designed to go after those who had pre-purchased an Essential phone so the data could later be used for identity theft. ” Affected customers will be offered a year of LifeLock, an identity theft protection service.

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Identity Theft Phishing Scams Privacy 43

Payments Source

FEBRUARY 13, 2017

The attack goes after the social network customer service channels for issuers and other financial services, and is hard for consumers to spot.

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Phishing Issuers Consumer Identity Theft 60

PYMNTS

DECEMBER 17, 2020

The IRS is encouraging consumers to screenshot these fraudulent texts and email them to the agency at phishing@irs.gov. million in coronavirus-related fraud this year and 38,792 cases of identity theft. “This scam is a new twist on those we’ve been seeing much of this year.”. The FTC marked $201.26

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Scams IRS Federal Trade Commission FTC 84

FICO

NOVEMBER 22, 2021

With that in mind, there are actions you can take right now to protect yourself from fraud and identity theft, regardless of your location around the globe. Phishing scams are popular because of the accessibility of reaching large numbers of people through email and text messages. In the U.S.

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Scams Online and Mobile Banking Identity Theft Credit Cards 98

PYMNTS

MARCH 16, 2017

Malcolm Palmore, assistant special agent in charge of the FBI’s San Francisco Cyber Division, told Ars Technica that the agency believes the hack started back in 2014 when a Yahoo employee fell victim to a spear phishing email campaign.

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FBI Breach Identity Theft Data Breach 46

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical.

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Identity Theft FTC Account Takeovers Phishing 69

PYMNTS

APRIL 15, 2019

The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. Phishing for Paychecks. HR departments need be on the alert for a new type of phishing scam that asks for reroutes on direct deposit accounts, CNBC reported.

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Money Laundering Wire Wires Identity Theft 51

PYMNTS

MAY 1, 2017

Phishing attacks can happen to even the most vigilant among us. The DoJ has since charged Rimašauskas with one count of money wire fraud, three counts of money laundering and one count of aggravated identity theft. It doesn’t matter where or who you are. At the end of March , the U.S.

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Scams Business Email Compromise Email Compromise Identity Theft 47

PYMNTS

JANUARY 24, 2017

According to a report highlighting findings from the Identity Theft Resource Center and CyberScout, data breaches in the U.S. For the eighth year in a row, hacking, skimming, and phishing were the main drivers of data breaches, representing 55.5 Some 64 percent of all data breaches involve identity and personal data theft.

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Data Breach Breach Identity Theft Phishing 40