Innovative Payments Association

JANUARY 13, 2025

Common Payment Scams Targeting Seniors Phishing Emails and Texts: Scammers impersonate legitimate organizations, such as banks or payment apps, asking seniors to provide personal information or payment details. Report Suspicious Activity: If you suspect fraud, report it to your bank, payment provider, and law enforcement immediately.

Scams 52

Scams Law Enforcement Payments FBI 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).

Scams 107

Scams Phishing Deepfake Verification 107

VISTA InfoSec

JUNE 21, 2023

The Federal Trade Commission (FTC) recommends that companies notify law enforcement as soon as possible by contacting local FBI or U.S. When reporting the breach, law enforcement or another party helping to act on the breach will use this information to determine and advise on the next steps. Secret Service offices.

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. 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.

Account Takeovers 101

Account Takeovers Fraud Detection Phishing Fraud Prevention 101

PYMNTS

JANUARY 3, 2021

We also immediately reported this matter to federal law enforcement and are now in the process of notifying impacted customers.”. Customers whose call data has been compromised, even if their names haven't been obtained, are at heightened risk of attacks such as phishing by bad actors pretending to be mobile carriers.

Law Enforcement 85

Law Enforcement Compromise Data Breach Phishing 85

PYMNTS

DECEMBER 20, 2019

They engaged in a phishing scheme, sending emails to employees and agents of the companies, seeking outstanding bills and asking the companies to send money to accounts in Latvia and Cyprus that Rimasauskas operated, according to U.S. They said they had recovered their funds and were cooperating with law enforcement, Bloomberg reported.

Law Enforcement 53

Law Enforcement Phishing Wire Transfer Scams 53

PYMNTS

MARCH 10, 2020

A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place. Businesses and organizations are already taking steps to close this security gap. But the U.S.

Contactless Payments 109

Contactless Payments Authentication Law Enforcement Cross-Border 109

PYMNTS

DECEMBER 22, 2016

Data security company Imperva, reports said, found that phishing attacks are more likely to be successful when a person opens an email at work (with 35 percent of phishing emails sent between 9 a.m. Further, IBM Security found that many of these targets never report the hack or details of the breach to law enforcement.

Cybersecurity 68

Cybersecurity Research Phishing Breach 68

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.

Phishing 56

Phishing Credit Union Breach Data Breach 56

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. There are just new ways to do them, it seems, and in the age of technology, the crackdowns on bad actors are going global.

Scams 45

Scams Phishing Federal Trade Commission Wire 45

Clearly Payments

MARCH 4, 2024

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. Elevated awareness of phishing scams and cybersecurity threats. Heightened scrutiny of data protection measures in payment processing.

Phishing 59

Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

OCTOBER 7, 2020

The Financial Crimes Enforcement Network recently issued a warning that fraudsters are leveraging various illicit methods, including malware, phishing schemes, extortion and business email compromise (BEC) scams — all with a COVID-19 twist.

Bitcoin 93

Bitcoin Consumer Cryptocurrency Scams 93

PYMNTS

OCTOBER 30, 2018

“But many times, it’s literally just the shame they would feel in reporting the attack to customers and law enforcement.” With malware often finding its way into an enterprise via phishing emails that fool employees, adequate worker education is paramount.

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

PYMNTS

APRIL 29, 2016

The annual study found that hackers are continuing to rely on attack methods such as phishing and ransomware , both of which enable them to capitalize on the element of human error. Roughly 30 percent of phishing messages were opened, which Verizon noted as an “alarming” number, marking a 23 percent increase compared to 2015.

Phishing 44

Phishing Data Breach Law Enforcement Ransomware 44

PYMNTS

FEBRUARY 3, 2017

According to The Hacker News , the group used spear-phishing emails with attachments containing malware to access bank networks and gain control of ATMs, making the machines spit out cash. Europol recognized law enforcement from around the world in helping with the investigation that led to these arrests. “The

ATM 44

ATM Law Enforcement Crime Phishing 44

FICO

MAY 27, 2021

This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. These fraudulent services run as legitimate businesses until a customer reports the illegitimate service to law enforcement and industry groups. Fake webpage for Royal Mail.

Scams 98

Scams Law Enforcement Compromise Fraud Prevention 98

Fintech News

FEBRUARY 10, 2025

In 2024, law enforcement traced a series of cryptocurrency transactions to local hawala networks, which facilitated money transfers between terrorist cells. A majority of these funds were stolen through private key compromises, phishing schemes, and decentralised finance (DeFi) exploits. billion globally.

Crime 79

Crime Ransomware Scams Phishing 79

PYMNTS

JANUARY 27, 2020

According to law enforcement in the country, the BEC is increasingly targeting businesses with fraudulent requests for funds loaded onto iTunes or Google Play cards, claiming to be for work-related expenses or client gifts. million, thanks to a phishing scam. The losses for one Texas school district totaled to $2.3

Business Email Compromise 71

Business Email Compromise Scams Ransomware Real Time Payments 71

PYMNTS

JULY 1, 2019

Such details can also be acquired via phishing schemes. Gift cards rouse little suspicion from law enforcement and are easily converted into cash. CNP schemes hurt businesses as much as they hurt consumers. If these rates exceed a certain amount, businesses can face fines of up to $10,000. Scamming, the Old-fashioned Way.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

OCTOBER 17, 2018

The activity sometimes lasted months and was often only discovered after law enforcement or other third parties got involved. Each of the companies lost at least $1 million, two lost more than $30 million, and one lost more than $45 million.

Cybersecurity 76

Cybersecurity Email Compromise Law Enforcement Business Email Compromise 76

Innovative Payments Association

MAY 20, 2024

Cultural Defenses Train Your Employees – Let them know what phishing e-mails look like and create ways for them to verify requests that don’t rely on a potentially hacked system. Hacks are not just an IT problem, you will need to communicate and take action with customers, vendors, law enforcement, and internally.

Cybersecurity 52

Cybersecurity FBI Law Enforcement Crime 52

The Fintech Times

FEBRUARY 23, 2024

With 54 per cent of Brits unfamiliar with social engineering, encompassing deceptive tactics such as phishing or smishing, the majority of the population remains vulnerable to potential fraud attempts. An additional 37 per cent of Brits are most concerned about fraud via social media channels.

Continuity 69

Continuity Deepfake Risk Smishing 69

PYMNTS

FEBRUARY 19, 2020

The Wawa data heist is one of several in a year marked by aggressive cybercrime and equally vigorous countermeasures by corporations and law enforcement. Yet another despicable scheme involves cyber villains using dating sites and apps to trick vulnerable people into opening bogus accounts and filing illegal corporate paperwork.

Law Enforcement 52

Law Enforcement Fraud Detection Bots Phishing 52

PYMNTS

DECEMBER 4, 2018

Agari, noted the report, turned over the evidence to law enforcement agencies both in the U.S. Doing so gives it the attack volume of a mass spam campaign, but with the target-specific customisation of spear-phishing attacks,” the researchers said in a report. or the U.S.

Law Enforcement 46

Law Enforcement Email Compromise FBI Scams 46

PYMNTS

FEBRUARY 3, 2017

Although the details have yet to be released, it’s believed that an employee’s computer was exposed to the ransomware through a phishing scam or by accidentally downloading it. The servers have now been locked up, and the FBI and Bureau of Criminal Investigation have been notified. We’re dealing with a criminal element.

Government 40

Government Governance Law Enforcement Ransomware 40

PYMNTS

APRIL 6, 2020

The call or phishing email is generally meant to give them the full data set they need to mint the keys that will get the inside of that person’s entire financial life. The fraudster is asking for information, Hodges said, because they have most of what they need on that customer to do some real damage — minus maybe one or two last pieces.

IRS 79

IRS Scams Point-of-Sale (POS) Breach 79

Innovative Payments Association

JUNE 26, 2024

Be Aware of the Different Types of Scams Phishing Scams: Seniors may receive emails or phone calls pretending to be from their bank, asking for sensitive information like passwords or social security numbers. What to Do if You're Targeted If you suspect a scam, report it to your bank, local law enforcement, and the Federal Trade Commission.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

EBizCharge

OCTOBER 25, 2023

Phishing attacks trick individuals into disclosing their login credentials or other sensitive information through deceptive emails or websites. Phishing attacks are the most common way to get these credentials, but other methods can be used to access this information.

Data Breach 52

Data Breach Best Practices Breach Phishing 52

PYMNTS

DECEMBER 26, 2019

The cat-and-mouse game between law enforcement and code-abusing felons is entering a new year, and a new phase. Fishing fraud (not to be confused with “phishing”) is big business, for example. The world’s biggest social media platforms are cracking down like never before. It’s all in the latest PYMNTS Fraud Decisioning Playbook.

Fraud Detection 52

Fraud Detection Bots Law Enforcement AI 52

PYMNTS

JUNE 20, 2019

On top of that, phishing and other forms of fraud, including methods that may be hard to spot by poorly trained healthcare staff, create risks as well. The alternative, of course, amounts to an illegal drug operation conducted via online and mobile channels, a juicy target for regulators, law enforcement and politicians.

Authentication 55

Authentication Breach Law Enforcement Data Breach 55

FICO

JANUARY 22, 2021

The reports are stored in the Consumer Sentinel Network (Sentinel), a secure online database available only to law enforcement partners, which can use information in the database to spot trends, identify questionable business practices and targets, and enforce the law. Phishing attacks are on the rise during the pandemic.

Credit Cards 52

Credit Cards FTC Push-to-Card Federal Trade Commission 52

Center for Payments

NOVEMBER 21, 2023

The FBI warns consumers to be on the lookout for fake websites, counterfeit products, and phishing emails that appear to be coming from trusted retailers that consumers normally engage with. The more information that is provided, the more useful it is to law enforcement. Your Payments Association Can Help!

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40

PYMNTS

NOVEMBER 4, 2019

A former employee of a local machinery business has been charged with stealing the funds by misusing company credit cards and company checks, an alleged scam that local law enforcement said highlighted the importance of “checks and balances” in company finances and payments. $11

Checks 40

Checks Scams Law Enforcement Ransomware 40

PYMNTS

AUGUST 9, 2018

Those capabilities certainly are valuable to the cybersecurity world, especially to law enforcement, as regulators are constantly sprinting to design legislation appropriate for the constantly evolving world of cyberattacks. Knowing your enemy is not just an asset to law enforcement, however. ”

Law Enforcement 41

Law Enforcement Data Breach Cybersecurity Breach 41

PYMNTS

APRIL 27, 2017

Law enforcement does not have the bandwidth to investigate or prosecute for these crimes unless they reach a large financial threshold. Haley noted that if the DNC had used two-factor authentication, the email phishing attack wouldn’t have been so disastrous. Cyber crooks know this and use that to their full advantage.

Ransomware 49

Ransomware End User Crime Law Enforcement 49

PYMNTS

APRIL 28, 2017

Law enforcement does not have the bandwidth to investigate or prosecute for these crimes unless they reach a large financial threshold. Haley noted that if the DNC had used two-factor authentication, the email phishing attack wouldn’t have been so disastrous. Cybercrooks know this and use that to their full advantage.

Ransomware 62

Ransomware End User Crime Authentication 62

FICO

JUNE 15, 2023

They use sketchy providers who don’t normally work with law enforcement and then phish, smish, email, and robocall the heck out of people. In an investment scam, the scammers pose as a legitimate entity offering something lucrative or luxurious with fake websites that seem convincing.

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52