PYMNTS

FEBRUARY 10, 2017

It’s expected that the number of account takeover attacks will also continue to grow. After reaching a low point in 2014, both account takeover incidence and losses rose notably in 2016, with total account takeover losses reaching $2.3 has fallen significantly behind the curve.

Account Takeovers

The Fintech Times

JUNE 1, 2024

Financial crime continues to grow, seemingly exponentially, with fraud damages expected to hit $10.5trillion annually by 2025 , a drastic rise from $3trillion in 2015. However, many of the largest financial organisations worldwide are actively investigating measures to counteract these threats. Over a third of fraud attempts (42.5

SWIFT

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018. acquire personal data via account takeovers.

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Braintree

AUGUST 26, 2019

Braintree has supported SMS and authenticator app two-factor authentication in the Control Panel since 2015. If you’re interested in learning more about the effectiveness of H2FA against account takeover, read more in this 2019 study. To learn more about the support of hardware two-factor authentication, contact us.

Authentication

Fintech Labs Insights

SEPTEMBER 17, 2015

This post is part of our live coverage of FinovateFall 2015. Socure is announcing Perceive at FinovateFall 2015. Perceive is a patented, remote facial biometrics solution designed to address account takeover fraud and transaction security. Product Launch: September 2015 at FinovateFall. Metrics: $7.2M

Account Takeovers

PYMNTS

DECEMBER 18, 2017

Department of Justice last March against a Lithuanian man for his alleged role in criminal activities including business email compromise scams between 2013 and 2015. Those activities led to $100 million stolen from businesses that reportedly saw sent fake invoices to their accounts payable departments, according to the DoJ.

Scams

PYMNTS

MARCH 30, 2016

This cloud-based, real-time identity verification tool also helps validate returning customers/prospects; it also protects transactions types, including account creation, login authentication and payment authorization. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

Account Takeovers

PYMNTS

OCTOBER 27, 2017

Well, for one, account takeovers, which are on the rise. According to the October 2017 Global Fraud Index, a PYMNTS and Signifyd collaboration, account takeover has spiked 45 percent in Q2 2017 alone. The increase in account takeovers is symptomatic of the larger landscape of fraud.

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PYMNTS

MAY 23, 2016

According to the study, a potentially misleading aspect of botnet attacks, at least in 2015, is that while botnets were the most common method of online fraud during the year, they also primarily targeted low-dollar-value transactions. However, just because botnets primarily stick to the low-hanging (i.e.,

Bots

PYMNTS

NOVEMBER 6, 2019

The agency reported that more than 21,000 individuals were tricked into sending $143 million in romance scams in 2018 – triple the rate reported in 2015. Account takeovers are also a hotspot for fraudsters, to the tune of some $4 billion per year.

Romance Scams

PYMNTS

FEBRUARY 25, 2020

Chang’s rolled out its mobile ordering app in August 2018, but its rewards program has been in place since July 2015. This work is meaningless, though, if fraudsters can run amok in user accounts, and restaurants are not immune to emerging, innovative fraud. Cooking Up A Fresh App . French noted that P.F. The Secret Sauce Of Security.

Security

PYMNTS

APRIL 22, 2016

In the application of botnets to attack transactions — including, but certainly not limited to, on point-of-sale devices — in 2015, cybercriminals hit just about every eCommerce vertical, save for food and beverage, at a rate never before seen. However, just because botnets primarily stick to the low-hanging (i.e.,

Identity Theft

PYMNTS

AUGUST 19, 2019

Formerly a subsidiary of McDonald’s, Chipotle became fully independent in 2006, and by 2015 had more than 2,000 restaurants in the U.S., Its Q2 2019 earnings report stated that the QSR’s stock has surpassed $750 a share for the first time since the 2015 outbreaks. Canada and Europe.

Bots

PYMNTS

APRIL 26, 2017

Between Q2 2015 and Q2 2016 alone, fraud attacks on luxury retailers went up by 87.2 And in the past few years, one of the biggest victims of fraud has been the luxury retail industry. percent, the highest among any other retail segments, according to the latest PYMNTS Global Fraud Attack Index™.

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PYMNTS

OCTOBER 8, 2019

When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature,” Garner explained. “As Taco Bell rolled out its first self-service kiosk in 2015 and has since worked to offer the technology at additional locations.

Bots

PYMNTS

JULY 17, 2017

The Global Fraud Index that Signifyd and PYMNTS published based on data from 5,000 online merchants suggests a silver lining: Fraud as a percentage of online sales is actually on the decline and has been since 2015. In the first quarter of 2016, this percentage dropped to 5.5 percent in Q1 2017.

Transactions

Fintech Labs Insights

JUNE 23, 2016

& Co-Founder Johnny Ayers debut Perceive at FinovateFall 2015. At FinovateFall 2015 Madhu debuted Perceive , a facial biometrics solution created to reduce account takeover. Socure CEO & Co-Founder Sunil Madhu and SVP, Bus. The Perceive SDK can be added to a web or mobile app to identify customers by their face.

Account Takeovers

Fintech Labs Insights

DECEMBER 20, 2016

And once a company is able to tell good users from bad, he said, “all the other technological attacks that are available, such as identity theft, account takeover, new account fraud … become very easy to deal within this framework.”

Security

PYMNTS

AUGUST 12, 2016

Too bad, said Apple, who yesterday fired back with an assertion that providing access to the NFC antenna would “fundamentally diminish the high level of security that Apple maintains on its devices,” turning a blind eye just for the moment to the account takeover issues that have plagued Apple since launch.

Rules

Fintech Labs Insights

AUGUST 22, 2024

Spycloud : Raised $169M, cybersecurity firm focusing on preventing account takeovers, broadened offerings. Fall 2015 (New York): Blockstack.io (acquired by BluLive): Blockchain platform for decentralized apps, rebranded to emphasize its broad ecosystem. Finovate is currently an advertiser on this site. Soundpays: Raised $2.8M

Online and Mobile Banking

PYMNTS

DECEMBER 21, 2018

Before the liability shift in 2015, the industry-wide prediction was that the onset of EMV would reduce occurrences of counterfeit card fraud in-store, but that the industry should expect to see a spike in card-not-present (CNP) fraud as fraudsters moved to easier targets. Take the transition to EMV in the U.S.,

EMV

PYMNTS

OCTOBER 28, 2017

According to the October 2017 Global Fraud Index , a PYMNTS and Signifyd collaboration, account takeover has spiked 45 percent in Q2 2017 alone — a $3.3 Even when one steps back from the account takeover niche, the overall picture isn’t heartening. billion cost to merchants — and that was before the data breach.

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