The Fintech Times

DECEMBER 6, 2024

Over the past 12 months, 58 per cent of surveyed SMEs said they had to deal with phishing scams. Thirty per cent also said they experienced account takeover attempts, where unauthorised parties tried to gain access to their online business accounts. Cyberattacks didn’t stop there.

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Account Takeovers Phishing Small Business Cybersecurity 80

PYMNTS

DECEMBER 27, 2016

Account takeovers, even of high-profile people, has become a common occurrence in this era of sophisticated cyberattacks and hacks, but researchers think they’ve found a way to fight back against account takeovers : cryptographically based security keys.

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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. Phishing attempts increased approximately 65 percent in 2019, and cost businesses more than $12 billion in stolen funds, victim payouts and opportunity costs. More than 4.1 percent in 2019 to $3.92

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Phishing Data Breach Breach Scams 64

Payments Source

AUGUST 22, 2018

Account takeover (ATO) fraud currently drives the largest fraud losses at North American financial institutions within digital channels, according to a new report from Aite Group and Early Warning, the bank organization that operates the Zelle payment network brand.

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Account Takeovers Mobile Payments Zelle Phishing 92

PYMNTS

JUNE 14, 2019

Online games store and centralize users’ payment information, making them prime targets for hackers who acquire data via account takeovers (ATOs). Account takeovers: the ultimate boss fight. Essentially all Steam accounts are now targets.”. Users must input these codes before they can access their accounts.

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Account Takeovers Accounts Scams Phishing 46

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?

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Account Takeovers Fraud Detection Phishing Fraud Prevention 105

Fintech Review

APRIL 20, 2025

The risks range from phishing and account takeovers to ransomware and insider threats. Why Finance Needs It Financial institutions are frequent targets for cybercrime. Attackers pursue data, funds, and access to infrastructure. Yet, as services move to the cloud and users expect instant access, the attack surface expands.

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Finance Security Fraud Detection Encryption 59

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.

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Account Takeovers MFA Fraud Detection Credit Cards 105

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. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

PYMNTS

DECEMBER 17, 2020

Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Other fraudsters are deploying phishing schemes to net their ill-gotten gains, either using the stolen data themselves or selling it online.

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Fraud Prevention Account Takeovers Phishing Push-to-Card 102

PYMNTS

JULY 2, 2020

Account takeover fraud, phishing scams and friendly fraud have all seen upticks of late. But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation.

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Transactions Push-to-Card Account Takeovers Fraud Prevention 112

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).

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Scams Phishing Deepfake Verification 109

Fi911

JUNE 9, 2025

What started as simple phishing emails has evolved into complex schemes involving social engineering, insider knowledge, and technical sophistication that can fool even experienced professionals. Attackers compromise vendor email accounts, then send updated banking instructions just before scheduled payments.

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Email Compromise Business Email Compromise Compromise Law Enforcement 52

Fintech News

MAY 27, 2024

In addition to data breaches, generative AI tools pose a distinct challenge to APAC fintechs, empowering fraudsters to craft sophisticated phishing lures and synthetic identities. According to a report by McKinsey, APAC accounted for nearly 40% of the global BNPL transaction volume in 2020.

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APACS Data Breach FinTech Fraud Prevention 117

PYMNTS

APRIL 9, 2020

Winning The New War With Account Takeover. Brands, he noted, have every incentive to give their best customers the VIP experience — hence they let them create accounts so their credit information, past purchases and associated data can be kept and used to curate and customize the consumer experience.

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Account Takeovers Fraud Prevention Push-to-Card Accounts 94

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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Fincen Account Takeovers Identity Theft Financial Crimes 71

The Fintech Times

DECEMBER 18, 2023

“A similarly damaging trend is account takeovers (ATOs) where a bad actor gains access and takes over an online account using stolen or hacked credentials. Take company-wide training to identify phishing attacks for example. “Approaches and practices that used to be relied upon will no longer pass muster.

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Cybersecurity Ransomware RDC Credential 139

The Payments Association

NOVEMBER 20, 2024

Data from Visa suggests that friendly fraud could account for as many as 75% of all disputes. For merchants, this means that AI fraud detection tools can be on the lookout for new and existing threats across every checkout session, physical retail location, and buyer account.

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AI Fraud Detection Identity Theft Account Takeovers 88

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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Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

ACI Worldwide Blog

NOVEMBER 5, 2024

New and more complex cybersecurity threats have emerged, leading to phishing, vishing, account takeovers (ATO), synthetic identity fraud, and more. The rise of artificial intelligence (AI) has brought about significant advancements across various sectors, including fraud.

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AI Account Takeovers Phishing Cybersecurity 52

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. This spike was the largest increase in Amazon-related phishing attempts since March, when the COVID-19 pandemic forced Americans indoors and made them rely on the marketplace more than ever before.”.

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Volume Transactions Account Takeovers Phishing 72

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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Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

JULY 1, 2019

Account Takeovers Plague the QSR Industry. Cybercriminals can obtain stolen identities for as little as $4, meaning it’s easier than ever for them to launch account takeover (ATO) attacks. One victim did not even have a Chipotle account, but had used the QSR’s guest checkout option.

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Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

NOVEMBER 17, 2020

Fraudsters utilizing these schemes rely on tactics such as phishing and impersonation scams to trick customers and businesses into sending payments or payment details, and their use of real-time rails can enable them to make off with the funds before customers catch on.

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Scams Account Takeovers Federal Trade Commission Real Time Payments 89

The Fintech Times

NOVEMBER 20, 2024

This is the first time digital forgery has surpassed physical counterfeits, with digital attacks accounting for 57 per cent of all document fraud. Generative AI (GenAI) is being used to create sophisticated digital forgery and injection attacks through well known methods like phishing, fraud and ransomware. per cent).

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Deepfake Phishing Account Takeovers Scams 69

PYMNTS

MARCH 20, 2020

Phishing attempts surged 640 percent last year alone, with hackers placing malicious URLs on domains such as Apple, Dropbox, Facebook, Google, Microsoft and PayPal, according to a recent report. The Latest Fraud Decisioning Developments. Fraudsters appear to be finding success in new versions of the age-old heists.

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PYMNTS

JULY 24, 2018

Google has claimed a success in its fight against employee phishing scams , telling reporters that none of its more than 85,000 employees have fallen victim to such a scam since the company deployed its Security Keys program. Even if a hacker steals a password, they still cannot access an account without the physical Security Key.

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Phishing Security Scams Email Compromise 40

PYMNTS

MARCH 18, 2020

High-tech schemes like credential stuffing and account takeover (ATOs) have become commonplace, but many fraudsters still rely on a technique that requires comparatively little technical know-how. Other fraudsters may go directly after restaurant employees with phishing schemes, a popular method for gaining access to data.

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Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

AUGUST 7, 2020

The research also noted a 40 percent increase compared to February in the number of blocked attempts to guide users to phishing websites for one of the most-visited gaming platforms. . The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud.

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Phishing Data Breach Account Takeovers Verification 89

PYMNTS

SEPTEMBER 24, 2018

These incidents — such as the event that impacted Equifax late last year — account for roughly 25 percent of all attacks, and most commonly occur when hackers pass through security firewalls or other protections to gain access to records. Most fraudsters resort to one of a half-dozen techniques when launching their attacks.

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AI Account Takeovers Data Breach Cybersecurity 78

PYMNTS

MAY 5, 2020

On the “back end” of the business, Elan leverages state-of-the-art fraud detection tools to identify and prevent transactional fraud, account takeover and fraudulent applications. Pangretic cautioned that there will continue to be a rising tide of email scams (phishing) and synthetic fraud. Interacting With The Cardmember.

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Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

APRIL 21, 2020

Business email compromise (BEC), B2B phishing scams, synthetic identities, fake accounts and trillions of aid dollars flooding out at a time of maximum uncertainty make this a fraudster’s paradise. More Vulnerable in AP.

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Scams Automation Phishing Email Compromise 63

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% In 2023, 83% of financial institutions reported an increase in phishing attacks. of all reported fraud cases.

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Risk Identity Theft Phishing Account Takeovers 52

The Paypers

APRIL 18, 2017

(The Paypers) Airbnb has introduced multi-factor authentication to protect its customers against cyber attacks, such as phishing, malware and password dumps.

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Account Takeovers Authentication Phishing Accounts 28

Braintree

AUGUST 26, 2019

As part of our ongoing mission to keep your data secure, Braintree is pleased to announce that we now support hardware two-factor authentication (H2FA) in the Control Panel, providing a new way for merchants to help keep their accounts secure. When a user activates H2FA, the specific key used is linked to their user account.

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PYMNTS

FEBRUARY 10, 2017

With today’s ability to hit thousands or even millions of users in a few hours through a phishing attack that infects laptops and smartphones, fraudsters could potentially grab a very large amount of credit card information typed in by users during their next online purchase,” Cagnoni explained. Identity Fraud On The Rise.

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PYMNTS

OCTOBER 30, 2017

Account takeover fraud is a growing concern, but Krebs noted that institutions and customers are better armed against it. Moreover, consumers tend to be aware of things like their banks accounts, and a credit card statement with a balance that’s a few thousand dollars north of where it should be tends to draw attention.

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Identity Theft FTC Account Takeovers Phishing 69