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Account Takeovers Accounts Identity Theft 
BioCatch
MARCH 17, 2025
Secret Service agent with decades of experience combating financial crimes, I've seen how identity theft has transformed into a well-oiled machine, exploiting every vulnerability in our digital and financial systems. As a retired U.S.
The Fintech Times
FEBRUARY 3, 2025
Account takeover scams saw a dramatic increase of 250 per cent last year. Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft.
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Payments Source
MARCH 17, 2020
Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.
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?
PYMNTS
OCTOBER 13, 2020
Shoppers may be quick to take their business elsewhere if these demands are not met, with 66 percent of respondents saying they had at least once given up opening accounts due to poor experiences. The Federal Trade Commission reported recently that credit card fraud is now the most common form of identity theft.
Seon
JANUARY 29, 2024
Having trouble protecting your user accounts? In this guide, we’ll see why accounts are targeted, how fraudsters acquire them, and, of course, which steps you should take to secure them. This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business.
Fraud.net
MARCH 1, 2024
Understand the mechanics of account takeover fraud and discover effective prevention strategies to safeguard against ATO attacks.
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.
Fintech Review
APRIL 20, 2025
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. Cybertech sits at the intersection of cybersecurity and fintech. What Is Cybertech?
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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. COVID-related scams are rampant and rapidly evolving.
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. Data from Visa suggests that friendly fraud could account for as many as 75% of all disputes.
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PYMNTS
JULY 9, 2020
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. Customers using mobile devices could scan their fingerprints on their smartphones to verify their identities.
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The Fintech Times
FEBRUARY 21, 2024
In fact, nearly three in four consumers (73 per cent) rank good fraud protection as a top three consideration when opening a new account according to FICO research. While 73 per cent of consumers said fraud protection was a top three concern when opening a new account, 34 per cent ranked it as a top priority.
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PYMNTS
AUGUST 21, 2020
Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. This reduces the success rate of fraudsters asking for money to be transferred to their own accounts by claiming to be somebody else.
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The Payments Association
JUNE 11, 2025
Shaun Lavelle Group chief risk officer, Trust Payments Scaling paradox North America accounts for 42% of global e-commerce fraud by value, followed by Europe at 26%. Current fraud landscape Card-not-present (CNP) fraud, predominantly from e-commerce, dominates the UK threat landscape, accounting for 81% of all UK card fraud , with 2.21
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Fi911
JULY 8, 2024
This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases. How Big of a Problem is eCommerce Fraud?
FICO
AUGUST 1, 2019
With the rapid rise of data breaches around the globe, the fear of identity theft is at an all-time high. What does it have to do with identity theft? I recently attended a conference where US Postal Inspector Brian Plants shared his perspective on the manifestation of a classic account takeover scheme.
Fi911
JANUARY 18, 2024
They subsequently gain control over existing accounts, or establish new ones without the victim’s awareness. These accounts frequently pertain to credit cards and serve as a means to make unauthorized purchases A criminal might use stolen personal information to open a bank account, for example.
PYMNTS
SEPTEMBER 24, 2019
One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.
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Fintech News
SEPTEMBER 29, 2024
At least 32 victims were tricked into registering for a BNPL account using Singpass, Singapore’s national digital identity system, and handing over their account details. These accounts were then used to make purchases at electronic stores, with the items subsequently collected for resale.
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PYMNTS
NOVEMBER 16, 2020
Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.
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Finextra
JUNE 26, 2025
This structural difference makes Card-Not-Present (CNP) fraud a dominant concern, accounting for a substantial portion of all card fraud, exemplified by its 85.3% These threats include: Online payment fraud The use of stolen cards by fraudsters: A fraudster takes control of a credit or debit card account to make unauthorized transactions.
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Fi911
JULY 19, 2024
It includes fraudulent transactions, account takeover, and identity theft. Incorrect Account Number 12.5: Fraud These reason codes are used when the cardholder claims that their card was used without their authorization or knowledge. EMV Liability Shift Counterfeit Fraud 10.2: Card Recovery Bulletin 11.2:
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PYMNTS
JUNE 12, 2019
In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace. Fraudsters are getting smarter.
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Finextra
JUNE 26, 2025
This structural difference makes Card-Not-Present (CNP) fraud a dominant concern, accounting for a substantial portion of all card fraud, exemplified by its 85.3% These threats include: Online payment fraud The use of stolen cards by fraudsters: A fraudster takes control of a credit or debit card account to make unauthorized transactions.
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PYMNTS
JUNE 22, 2020
Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. Account fraud can take 15 hours for cardholders to resolve — hardly the most productive use of anyone’s time. If not, are they a victim of identity theft?”
Clearly Payments
JULY 16, 2024
In 2023, CNP fraud accounted for 81% of all fraud losses in the retail sector, amounting to over $4.5 According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% Insider fraud accounts for 15% of fraud losses in the financial sector, with an average loss of $200,000 per incident.
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Stax
NOVEMBER 11, 2024
ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. However, the use of ACH payments in B2B transactions accounts for a large portion of payments made through the network and grew by 17.4% in payment volume growth in Q4 2021. in Q4 2021.
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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.
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The Fintech Times
MAY 17, 2024
Overall, 68 per cent of respondents either know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected. Finding a solution Identity verification is a key part of the solution for companies looking to secure themselves and ensure that their users are genuine.
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PYMNTS
MARCH 29, 2017
Online retailers just got a new tool in the fight against identity theft and fraud. XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows.
Fintech News
JUNE 6, 2024
The Jumio 2024 Online Identity Survey reveals that 85% of Singaporean consumers are willing to spend more time on identity verification measures when accessing financial services accounts to improve security.
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The Fintech Times
AUGUST 17, 2024
This includes account openings, logins and transactions. Robert Boxberger, president of Experian’s North American identity and fraud business “Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data, analytics and insights to prevent fraud.
59 PYMNTS
OCTOBER 26, 2016
With massive cyberattacks like the recent Yahoo data breach — which compromised the personal data of an estimated 500 million user accounts — it’s clear that payment data isn’t the only information that needs to be protected. to provide additional layers of security.
PYMNTS
FEBRUARY 22, 2018
Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 Also having a record breaking year — powered by all those stolen social security numbers — was new account fraud, which rocketed up 70 percent in 2017. That fraud run saw $16.8
Seon
SEPTEMBER 11, 2023
As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.
PYMNTS
OCTOBER 30, 2017
According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. The Many Ways To Play At Fraud. ” Fighting The Phishermen.
PYMNTS
AUGUST 29, 2019
Account takeovers (ATOs), identity theft and phishing were found to be the most common methods of attack in this region. A recent report found that ASEAN nations are projected to lose $260 million to online fraud this year, with eCommerce companies bearing the brunt of these losses.
PYMNTS
SEPTEMBER 17, 2019
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes.
FICO
MAY 15, 2018
As a drumbeat of data breaches becomes the new reality — 42% of organizations breached in 2017 were breached in the past — it’s easy for consumers to throw up their hands and brace themselves for becoming a victim of identity theft or other financial crime. Stay charitable, stay safe and follow me on Twitter @FraudBird.
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Finovate
AUGUST 14, 2024
Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. “Our goal is to help our customers manage security while providing the best experiences for their account holders.”
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PYMNTS
OCTOBER 29, 2018
The various parts come together to produce a nefarious whole, one that targets personal and payment data to enable product or identity theft , account takeovers and other illegal activities that, left unchecked, can ruin lives and take down companies.
PYMNTS
JANUARY 23, 2020
billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.
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FICO
JANUARY 22, 2020
Interestingly, nearly half of the respondents (46 percent) are currently only using 1 or 2 of these strategies , potentially leaving them more exposed to attack vectors such as identity theft, account takeovers, cyberattacks. Account takeovers were ranked second, with false accounts and money mules also rated as problems.
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