VISTA InfoSec

MAY 12, 2024

According to the Identity Theft Resource Center’s (ITRC) 2023 Business Impact Report , 73% of small business owners in the US reported a cyber-attack within the previous year, underlining the growing popularity of small businesses as a target among malicious actors.

PCI DSS 277

PCI DSS Security Compromise Best Practices 277

Fintech Finance

AUGUST 28, 2024

However, this increase in digital payments also brings about heightened risks – almost one in five consumers surveyed has fallen prey to online identity theft. report falling victim to online identity theft, with two in five reporting that an incident resulted in accounts being opened in their name.

Identity Theft 105

Identity Theft Online and Mobile Banking Consumer Payments Trends 105

PYMNTS

FEBRUARY 10, 2017

a leading provider of identity theft protection, it has created the most comprehensive consumer digital safety platform to help people protect their information, identities, devices and families. With more people shopping online and sharing their lives on social media, identity theft is at an all-time high.

Identity Theft 43

Identity Theft Social Security Breach Returns 43

Fintech News

DECEMBER 17, 2024

The new offering aims to address the rising fraud risks in digital asset transactions. It integrates advanced features, including know-your-customer (KYC) name matching, fraud alerts, proof of crypto delivery, and transaction risk scores.

Transactions 110

Transactions Identity Theft Security Phishing 110

The Fintech Times

APRIL 22, 2024

One in four individuals have experienced digital wallet theft and one in five face unauthorised access to personal bank accounts via mobile apps. In 62 per cent of smartphone theft cases, businesses face severe financial and cybersecurity risks.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

Fintech Review

APRIL 20, 2025

However, as services become more digitised, the risks multiply. It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. The risks range from phishing and account takeovers to ransomware and insider threats.

Finance 52

Finance Security Fraud Detection Encryption 52

The Fintech Times

JANUARY 16, 2024

Edward Metzger, vice president, market planning payments efficiency at LexisNexis® Risk Solutions, shares his predictions for the key payments trends to watch as 2024 unfurls. Edward Metzger, LexisNexis® Risk Solutions 1. In fact, it is the number one fraud threat globally, surpassing card fraud and identity theft.

Payments Trends 98

Payments Trends Risk Identity Theft Payments 98

Fintech News

FEBRUARY 5, 2025

It also minimises the risk of penalties associated with non-compliance. Additionally, it enhances fraud prevention by identifying data inconsistencies, helping to reduce identity theft and fraudulent account creation. Automating document validation helps businesses lower operational costs by reducing the need for manual checks.

Verification 66

Verification Checks Security Identity Theft 66

Clearly Payments

JANUARY 8, 2024

In the rapidly advancing world of payments and eCommerce, merchants find themselves navigating a landscape of risk in payment processing. While these technologies bring unparalleled convenience and global reach, they also introduce a plethora of risks that can impact the financial stability and reputation of businesses.

Risk Management 97

Risk Management Risk PCI DSS Process 97

Basis Theory

DECEMBER 12, 2023

It also brings some significant challenges to both, including the friction of extra steps in the payment process, the sometimes-confusing user experience, and the risk of unanticipated fraud through identity theft in the initial 3DS registration (particularly the activation-while-shopping, or AWS step).

Identity Theft 100

Identity Theft Consumer Credit Cards Acquirers 100

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

The Payments Association

MARCH 14, 2025

Understanding your MCC code is essential because it directly affects: 1) Payment processing fees Businesses categorised under high-risk MCCs typically pay higher transaction fees due to increased fraud exposure and chargeback rates. These rules help prevent fraud, identity theft, and illicit transactions.

Risk 88

Risk Disputes Processors Fraud Detection 88

Finovate

OCTOBER 29, 2024

HelloPrivacy monitors and removes personally identifiable information (PII) from the web to help defend against identity theft, robocalls, and other privacy risks. Most recently demoing its technology at FinovateSpring 2023 , Array introduced its HelloPrivacy and Subscription Manager solutions.

Acquirers 105

Acquirers Consumer Payment APIs and Integration Privacy 105

FICO

NOVEMBER 30, 2017

In my previous post on application fraud, we explored the drivers behind the rapid acceleration of identity-based fraud , which includes identity theft / third-party fraud, synthetic identity fraud, and first-party fraud. Managing fraud is a balancing act that starts with knowing your fraud risk appetite.

Risk 82

Risk Fraud Detection Assessments Origination 82

Clearly Payments

JULY 16, 2024

This article covers the fraud risks and statistics associated with different industries, exploring the factors contributing to these risks and offering strategies to reduce fraud. Fraud rates are extremely difficult to get 100% accurate, however they provide an overview of the fraud activity and risk in an industry.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

Segpay

NOVEMBER 26, 2024

The Importance of Reliable Digital Identity Verification In a digital world, ID verification is a trust-building mechanism that protects both the user and the organization. This accelerates the onboarding process and reduces fraud risk.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

Fi911

AUGUST 15, 2023

Moreover, emerging AI tools such as ChatGPT are being regarded as a powerful asset by fraudulent actors aiming to engage in digital identity fraud. This risk can be mitigated with the strategic management of data and leveraging AI capabilities proactively by merchants. This involves using historical data to develop customer profiles.

Identity Theft 52

Identity Theft AI Bots Authentication 52

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Fintech News

JULY 16, 2024

In the past year, identity checks have become more frequent, with 53% of respondents noticing more checks when logging into bank accounts and 48% during online purchases. This increase in identity checks by Singapore banks is a direct response to the significant issue of identity theft in the country.

Identity Theft 109

Identity Theft Online and Mobile Banking Checks Compromise 109

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

The Fintech Times

AUGUST 17, 2024

Global data and technology company, Experian has acquired NeuroID , the behavioural analytics firm, to expand its fraud risk suite. The post Experian Expands Fraud Risk Suite With NeuroID Acquistion appeared first on The Fintech Times. Jack Alton, CEO at NeuroID “We are in a new era of fraud driven by AI.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

FICO

NOVEMBER 24, 2020

Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. With that in mind, there are actions you can take right now to protect yourself from fraud and identity theft. This will also freeze all of the accounts associated with your identity.

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

AUGUST 21, 2020

The only part of the machine that customers have to touch is the cash itself, significantly reducing the risk of infection. These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

OCTOBER 22, 2018

With risk, of course, due to endemic identity theft concerns – but also with a lot of reward. They use their phones to order food and to decide what they eat before they order. They shop, pay bills, book and manage travel – all digitally.

Identity Theft 73

Identity Theft Crime Risk Consumer 73

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?

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

Fintech Review

JANUARY 21, 2025

However, with these benefits comes the heightened risk of cyber threats. This proactive approach significantly reduces risks compared to traditional methods. These technologies ensure that users are who they claim to be, reducing the risk of identity theft.

Cybersecurity 103

Cybersecurity FinTech Identity Theft AI 103

The Fintech Times

FEBRUARY 23, 2024

Deepfakes and threats of AI Such activity could lead to identity theft, which IDnow believes should be a concern to the UK public, especially given the rise in deepfake technology. They need to go further in terms of fraud prevention technology to meet their customers’ risk appetite, especially when their money is at stake.

Continuity 69

Continuity Deepfake Risk Smishing 69

PYMNTS

JANUARY 30, 2020

For software companies and platforms that seek to integrate payments and provide value-added services to merchants, there is the never-ending challenge of balancing trust and risk. Risks for Merchants — and Providers. For service providers, one of the most basic risks in the commerce arena is merchant risk.

Risk 57

Risk Payment APIs and Integration Payments Cross-Border Payments 57

Fintech News

MARCH 25, 2024

The 2023 Mobile Banking Heists Report, released in December 2023, provides an overview of the risks to mobile financial applications, highlighting the continued evolution and success of mobile banking malware and mobile banking fraud around the globe.

Mobile Banking 117

Mobile Banking Online and Mobile Banking Identity Theft Credential 117

PYMNTS

NOVEMBER 12, 2018

However, since this breach involves sensitive personal information, including partial SSN, there could be a risk of identity theft.” The government agency is offering free identity theft protections due to the breach through ID Experts, a data breach and recovery company.

Identity Theft 71

Identity Theft Consumer Data Breach Breach 71

Fi911

MAY 7, 2024

Alternatively known as the MATCH List, seeks to safeguard banks from extending acquiring services to high-risk enterprises. This termination leads to the business’s name being added to the TMF, marking it as a high-risk entity. Beyond that, there are financial ramifications in the form of potential fees and fines.

PCI DSS 95

PCI DSS Processors Compromise Identity Theft 95

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. Health care entities and government agencies, too, are at risk for their data security.

Data Security 54

Data Security Governance Government Data Breach 54

The Fintech Times

APRIL 15, 2024

“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. This approach not only fine-tunes the assessment of credit risks but also customises financial products to meet individual requirements, balancing personalisation with risk management.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

The Fintech Times

APRIL 10, 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 105

Visa PCI DSS Accreditation Identity Theft 105

Fintech News

SEPTEMBER 29, 2024

As early as 2021, CNBC reported that criminals were exploiting weaknesses in the application processes of BNPL platforms, often using clever tactics like identity theft and account takeovers, making unsuspecting victims foot the bill. BNPL fraud is not a new phenomenon. In Indonesia, consumer debt related to BNPL schemes reached IDR 6.13

BNPL 130

BNPL Scams Identity Theft Non-Bank 130

Payments Source

APRIL 11, 2019

Tax-related identity theft can be especially worrisome, not only for the monetary consequences it carries, but tax documents often contain highly sensitive information, like Social Security numbers, writes Paige Schaffer, president and COO of Generali Global Assistance’s Identity and Digital Protection Services Global Unit.

Identity Theft 69

Identity Theft Security Social Security Innovation 69

VISTA InfoSec

JUNE 21, 2023

However, regardless of the size of your business, taking the right steps after a cyberattack can help protect your company and any records at risk if you fall victim. Report A data breach risks the unsolicited sharing of people’s data, which can affect their rights and freedoms. Secret Service offices. 5 - (2 votes)

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130