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

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

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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PYMNTS

MAY 1, 2017

Phishing attacks can happen to even the most vigilant among us. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam.

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Scams Business Email Compromise Email Compromise Identity Theft 47

Seon

JUNE 27, 2024

How can the technology driving novel and increasingly sophisticated fraud activities be harnessed to combat scams and cyber risks cost-efficient and effectively? AI’s capabilities, like machine learning algorithms, are being trained to identify and exploit vulnerabilities, automate phishing attacks and bypass traditional security measures.

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Cybersecurity Fraud Detection Identity Theft Money Laundering 52

Clearly Payments

MARCH 4, 2024

The stolen data was then exfiltrated from the network and, ultimately, used for fraudulent purposes, including unauthorized purchases and identity theft. Operation Phish Phry (2009) Operation Phish Phry stands as a testament to the cunning and audacity of cyber criminals orchestrating large-scale payment processing fraud.

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Phishing Data Breach Law Enforcement Money Laundering 59

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

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. Netflix , for one, is currently warning its customers of an email scam designed to steal payment details from users. Inverting the Fraud Approach.

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Identity Theft Data Breach Breach Verification 63

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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Identity Theft Payee Checks Phishing 66

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 82

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

FICO

FEBRUARY 16, 2023

While skimming events can impact hundreds of unknowing individuals, criminals will also continue to target consumers through phishing, smishing, scams, and other tactics to obtain cardholder data that can be used for card-not-present fraud. Banks should deploy fraud checks prior to authorizing any purchase or payment transaction.

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The Fintech Times

JANUARY 17, 2024

When asked what kinds of fraud they were the victims of, the most common responses were: Credit card fraud (59 per cent) Identity theft and phishing (21 per cent) Employment scams (12 per cent) Investment fraud (10 per cent) “Millennials have embraced digital payments and mobile banking, which dominate how we access banking services today.

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AI Financial Crimes Crime Security 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. Other scams are targeting consumers’ payment information — including their debit card data.”. With the proliferation of debit comes inevitable attempts to target debit cards.

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Consumer Debit Card Debit Network Identity Theft 73

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 Wires Wire Identity Theft 51

FICO

MAY 19, 2020

We need to be proactive in our communications to customers around scams. 2) Top 5 Fraud Manager Considerations During COVID-19: Scams are now tailored, so we need to modify our strategies. 2) Top 5 Fraud Manager Considerations During COVID-19: Scams are now tailored, so we need to modify our strategies. by Adam Davies.

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Account Takeovers Identity Theft Scams Financial Crimes 52

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. One study on six countries, including Canada, the U.K. These schemes range from tailored attacks against U.S.

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Verification Consumer Online and Mobile Banking Scams 83

PYMNTS

JULY 10, 2019

Besides identity theft, malware and viruses, there are phishing scams, data breaches and other unknown issues that can compromise computers and daily life. Privacy is the new currency in a time when browsing the internet can be a lot like walking through a crime-ridden neighborhood.

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Privacy Identity Theft Regulatory Compliance Data Breach 40

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

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. Cybercriminals using synthetic identity fraud can cause damage, but the real impact is to companies’ relationships with their legitimate users.

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Identity Theft Fraud Prevention AI Scams 54

PYMNTS

MAY 30, 2018

Bloomberg , citing court proceedings, reported that Baratov was charged with computer fraud and is one of four people slapped with charges last year for a hacker scam that was tied to Russia’s FSB security agency. Baratov has pleaded guilty to conspiracy to commit computer fraud and identity theft in November, noted Bloomberg.

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Identity Theft Breach Phishing Scams 44

PYMNTS

OCTOBER 9, 2020

Cybercriminals are targeting payment details kept on these mobile wallets or those that are linked to online purchases with a rising number of phishing scams or identity theft schemes, making it imperative for merchants operating both online and in-store to have robust fraud protection measures in place to keep them out.

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PYMNTS

MAY 2, 2017

In other news of note from the Facebook space, it recently came to light that the social media giant, along with Google, were the heretofore unnamed victims of a combined $100 million phishing attack earlier this year. Additionally, research from Trend Micro found $1 billion total losses worldwide in 2016 due to BEC scams.

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Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017. International Issues.

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Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

FICO

NOVEMBER 22, 2021

This busy and complex environment provides the perfect conditions for consumers to fall for scam deals or buy products that aren’t quite what they expected. For instance, online shopping scams in the U.K. It's the giving season — during a pandemic — which multiplies the opportunities for fraudsters to try to scam you.

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Scams Online and Mobile Banking Identity Theft Credit Cards 98

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.

Identity Theft 43

Identity Theft Phishing Scams Privacy 43

Seon

JUNE 15, 2023

The report states that these victims mostly lost their money to BEC scams. Fraudsters use manipulation tactics such as email-based phishing or take advantage of leaked company data to gain access to – and take over – one or more of the business’s accounts. Reported losses in 2020 exceeded $4.2

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

AUGUST 20, 2020

online customers have been targeted by COVID-19-related fraud, with phishing scams emerging as the top way these bad actors are attempting to gain access to their victims’ personal data. A recent study found that 32 percent of U.S.

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Online and Mobile Banking Privacy Regulations Identity Theft 115

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

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Credit Cards Risk Online and Mobile Banking Phishing 52