Fintech News

FEBRUARY 5, 2025

For Australian businesses that require secure and compliant document verification, Sumsubs DVS Verification facilitates user onboarding with real-time identity validation. This integration allows both new and existing clients to verify Australian users more efficiently while enhancing security.

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Verification Checks Security Identity Theft 71

FICO

OCTOBER 30, 2017

Identity theft is growing at an exponential rate, leading to a rise in application fraud. Javelin Research reported a 17% rise in reported US identity theft victims , from 13.1 Identity theft, also known as third-party fraud losses, is just the tip of the iceberg. million to 15.4 Am I missing a topic?

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Identity Theft Account Takeovers Best Practices Data Breach 72

PYMNTS

MAY 21, 2020

Active-duty service members are 76 percent more likely to report identity theft than most people, according to data from the Federal Trade Commission (FTC). The FTC has said identity theft is a prevalent problem, with over 650,570 cases reported in 2019, or 20.3 percent of the 3.2 million fraud cases reported that year.

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Identity Theft FTC Federal Trade Commission Debit Card 71

PYMNTS

DECEMBER 4, 2018

The Federal Trade Commission announced Tuesday (December 4) it is seeking comment on whether the agency should make changes to rules requiring financial institutions and creditors to take certain steps to detect signs of identity theft affecting their customers. The deadline for submitting comments is February 11, 2019.

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Identity Theft FTC Rules Card Issuer 64

Fintech News

DECEMBER 17, 2024

Revolut, a global neobank with over 50 million users, is set to introduce its upgraded security tool, Revolut Pay, to crypto customers in 2025, according to a CoinDesk report. Additional security measures, like brief interactions with customer service for high-risk transactions, ensure a balance between safety and user convenience.

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Transactions Identity Theft Security Phishing 110

Finovate

JANUARY 9, 2025

Among the new tools are all-in-one bill pay, real-time bank balance insights, credit score protection, $1 million in identity theft protection, and utility usage tracking. consumers a single place to pay over 120,000 billers using a standard checkout and secure payment experience. per month (plus tax, where applicable).

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Facilitators Identity Theft Consumer Online and Mobile Banking 59

Payments Source

NOVEMBER 4, 2018

Synthetic fraud brings the pain from many angles — a fluid mix of fake credentials and phony accounts that can overwhelm traditional identity theft tools.

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Identity Theft Credential Security Accounts 97

VISTA InfoSec

FEBRUARY 25, 2024

This guide makes sensitive cybersecurity concepts approachable to enable smarter decisions in securing your systems against catastrophe. Most data breaches boil down to security failures and human error. Best Practices For Prevention Ultimately, consistent vigilance and proactive security safeguards offer the best breach protections.

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Data Breach Breach Multifactor Authentication Cybersecurity 272

The Fintech Times

FEBRUARY 3, 2025

Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft. Similarly, instant payment platforms and new payment technologies present increasing opportunities for fraudsters, worsened by insufficient identity verification methods.

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Deepfake Account Takeovers Identity Theft Verification 81

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.

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Identity Theft Online and Mobile Banking Consumer Payments Trends 105

Fintech News

APRIL 22, 2024

While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose a significant threat to the integrity and security of financial platforms, jeopardising both user data and financial security.

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Phishing Security Blocks Cybersecurity 117

The Fintech Times

APRIL 22, 2024

Security is failing to keep pace with smartphone utilisation with compromised digital wallets and banking apps leading to growing identity threats, a report has revealed. It provides a digital panic button, empowering individuals to block access to various services and accounts all at once if they experience smartphone theft.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

The Fintech Times

FEBRUARY 21, 2024

Biometrics were a top choice for security measures with 68 per cent preferring to use fingerprints. Identity theft to open a new account is the top-ranked concern at 30 per cent. The post Biometrics are UK Consumers’ Favourite Security Measure as Desire For Fraud Protection Increases appeared first on The Fintech Times.

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Consumer Security Identity Theft Account Takeovers 122

Finezza

DECEMBER 10, 2023

As identity theft remains a constant concern, virtual card numbers provide a secure alternative for online transactions, offering peace of mind while simplifying payments. These numbers offer a secure, streamlined way for both individuals and businesses for payments.

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Credit Cards Identity Theft Research Transactions 98

Clearly Payments

DECEMBER 19, 2024

Common types include card-not-present fraud, phishing attacks, and identity theft. What It Means for You: Work with a payment processor that prioritizes security. Fraudulent Transactions Reach $41 Billion Globally Payment fraud is a growing concern, with global losses expected to hit $41 billion in 2024.

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BNPL Contactless Payments Processors Payments 105

Basis Theory

DECEMBER 12, 2023

Why Does 3D-Secure Matter? 3D Secure ( 3DS ) provides an additional layer of security for online transactions, adding an identity confirmation partner to the standard communications between acquiring and issuing banks.

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Identity Theft Consumer Credit Cards Acquirers 100

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.

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Identity Theft Security Social Security Innovation 69

Payments Source

MAY 1, 2020

Adam Levin addresses the threats of cyber fraud and identity theft and what you can do to protect your customers' privacy and credit security.

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Identity Theft Data Breach Breach Privacy 77

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.

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Identity Theft Online and Mobile Banking Checks Compromise 110

PYMNTS

OCTOBER 26, 2016

While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. to provide additional layers of security. Going Beyond PCI.

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Payment Security Security Identity Theft Compromise 81

Segpay

NOVEMBER 26, 2024

Whether we are setting up a new bank account, making a purchase online, or accessing government services, confirming who we are in the virtual space is crucial to ensuring our security, the protection of our privacy, and the improvement of our user experience. Digital identity verification allows users to complete verification remotely.

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Verification Identity Theft Money Laundering Due Diligence 111

Fi911

AUGUST 15, 2023

This could refine the process of securities selection, tailoring them to customer requirements. This effectively counters the ill-intended utilization of such advanced technologies, ensuring a safe and secure digital environment for financial transactions. This will ensure a seamless customer journey without compromising trust.

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Identity Theft AI Bots Authentication 52

Fintech News

JULY 10, 2024

Sumsub, a global verification provider, has announced strategic partnerships with several resellers in Southeast Asia including Nexus Technologies in the Philippines, PT Secure Pasifik Teknologi in Indonesia, and Spectrum Edge in Malaysia. Sumsub established its first APAC headquarters in Singapore in July 2023.

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Identity Theft APACS Deepfake Money Laundering 107

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. The Security Threats Facing ITMs And How FIs Can Protect Them. billion by 2024.

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Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

APRIL 9, 2019

Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged. Operators of the marketplace sell the data to cybercriminals who use it for identity theft, online fraud, and other crimes.

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Identity Theft Crime Security Research 94

Fintech Finance

MARCH 5, 2025

This partnership combines Enigma’s advanced AI capabilities with HPS’s comprehensive payment platform, offering clients unprecedented security and efficiency in navigating the complexities of modern payment systems. Together with HPS, were setting a new benchmark for fraud prevention and compliance.

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Fraud Detection AI Fraud Prevention Identity Theft 52

PYMNTS

JANUARY 27, 2021

Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously. Biometric-based methods’ effectiveness varies, but all provide better security than simple passwords.

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Innovation Security Bots Identity Theft 85

PYMNTS

JANUARY 11, 2021

A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. Robinhood has insisted its internal systems weren't compromised and that unauthorized access was due to identity theft.

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Accounts Identity Theft Breach Laws 96

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. Large investments in security measures are necessary for banks to protect themselves and their customers from this menace.

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Identity Theft Financial Crimes Technology Crime 83

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.

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Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

FEBRUARY 21, 2019

That said, IoT device creators and consumers are looking at IoT security with a higher level of scrutiny. In the February Intelligence of Things Tracker , PYMNTS examines how countries, developers and consumers are responding to increased calls for security, as well as how the IoT market is growing worldwide. Around the IoT World.

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Data Security Security Identity Theft Privacy 72

The Fintech Times

APRIL 10, 2024

MDES provides PXP Financial with a Secure Card on File tokenisation programme, a better user experience and higher approval rates for merchants leveraging Mastercard tokens. Digital tokens are used for secure e-commerce and in-app transactions, rather than using the customer’s primary account number (PAN) which remains in a token vault.

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Visa PCI DSS Accreditation Identity Theft 105

PYMNTS

SEPTEMBER 13, 2018

Consumers prefer speed, convenience and ease of use over security — even when it comes to accessing financial services online. 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.

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Security Identity Theft Authentication Breach 59

PYMNTS

NOVEMBER 12, 2018

“HealthCare.gov is safe to use, and the agent and broker system is now available again with additional security measures in place. We are continuing to investigate this breach and putting additional security measures in place to make sure HealthCare.gov and the Marketplace process are safe and all consumer information is protected.

Identity Theft 71

Identity Theft Consumer Data Breach Breach 71

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

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

The Fintech Times

JULY 10, 2024

In under than a minute, users can verify themselves with compliant and secure NFC technology, for a QES that is the legal equivalent to a wet-ink signature on the Level of Assurance (LoA) High. ” The post IDnow Unveils Two New E-Signature Solutions, to Securely Speed up Loan Contract Signings appeared first on The Fintech Times.

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Security Verification Identity Theft AML 64