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?

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

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. Scammers who gain access to accounts message other players, offering them links to free character skins or in-game currency.

Account Takeovers 46

Account Takeovers Accounts Scams Phishing 46

Braintree

AUGUST 26, 2019

Braintree has supported SMS and authenticator app two-factor authentication in the Control Panel since 2015. Two-factor authentication is a crucial tool for helping protect merchants from unauthorized account access, typically by requiring a time-sensitive code during sign in.

Authentication 52

Authentication Phishing Account Takeovers Breach 52

Fi911

JANUARY 18, 2024

They can then open new accounts, apply for loans, or make unauthorized purchases in that person’s name, leaving the victim to deal with the financial and emotional consequences. They often accomplish this by obtaining the victim’s login credentials through phishing emails, malware, or other fraudulent means.

Account Takeovers 105

Account Takeovers MFA Fraud Detection Credit Cards 105

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication. Take company-wide training to identify phishing attacks for example.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

The Payments Association

NOVEMBER 20, 2024

Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft. Account takeover fraud How it works: Fraudsters can use phishing emails, false promises, and other social engineering attacks to steal a cardholder’s personal information and gain unauthorised access to their account.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

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.”.

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

MARCH 20, 2020

Many are turning to artificial intelligence (AI), machine learning (ML) and other advanced learning solutions to prevent and detect breaches before they can cause large-scale problems, but bad actors are using the same set of tools to sidestep authentication processes or impersonate legitimate customers.

Fraud Prevention 90

Fraud Prevention Account Takeovers Phishing Authentication 90

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. Such details can also be acquired via phishing schemes. CNP schemes hurt businesses as much as they hurt consumers.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

AUGUST 21, 2020

Hacking, cybercrime and various forms of digital fraud are a never-ending worry for digital-first banks, with fraudsters leveraging techniques as diverse as phishing schemes, identity theft, account takeovers and botnets to target both banks themselves and their customers.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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.

Phishing 70

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

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.

Account Takeovers 28

Account Takeovers Authentication Phishing Accounts 28

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. “Users might be asked to authenticate using their Security Key for many different apps/reasons.

Phishing 40

Phishing Security Scams Email Compromise 40

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.

Scams 89

Scams Account Takeovers Federal Trade Commission Real Time Payments 89

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.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

MAY 24, 2017

According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam. They will come in, do a fake phishing scam, a fake malware download, a fake password request and see how many people follow through with it.

Authentication 40

Authentication Credential Ransomware Phishing 40

PYMNTS

MAY 5, 2020

In an interview with PYMNTS, Mitch Pangretic, senior vice president of strategic partnerships at Elan , said that in-person card fraud may have decreased thanks to EMV chips and multi-factor authentication, but card-not-present (CNP) scams are increasingly gaining traction.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

JULY 21, 2020

The Wall Street Journal recently reported a 35 percent jump in year-over-year credit card fraud in April, with fraudsters harnessing phishing schemes and brute-force hacking attacks, among others, to swindle data and funds. The increase in credit card fraud is part of a larger trend over the past several years, with such losses totaling $16.9

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

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.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

PYMNTS

JUNE 11, 2019

One of the most insidious forms of fraud is account takeovers (ATOs). As consumers are justifiably apprehensive about handing businesses their personal information, providers are implementing technologies, such as biometrics and two-factor authentication (2FA), to counter the threat of ATOs.

AI 60

AI Account Takeovers Online and Mobile Banking Authentication 60

The Payments Association

JUNE 11, 2025

Key changes could include embedding platform-wide risk analytics, adopting real-time authentication, aligning their fraud strategies along business goals, and embracing transparency through AI. AI-driven scams leverage sophisticated attacks from phishing emails to deepfake videos and voice impersonations. million.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

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.

Scams 63

Scams Automation Phishing Email Compromise 63

Neopay

FEBRUARY 27, 2025

The study, which surveyed over 1,200 financial and payment sector professionals across seven European countries, found that account takeover remains the leading type of fraud affecting customers, followed by card payment fraud and phishing.

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

FEBRUARY 14, 2020

Phishing is another favored tactic for cybercriminals, who continued to make use of this tried-and-true method in 2019 with the illegal use of some of the most popular eCommerce logos to draw in unsuspecting consumers. Orchestrating Complex Authentication And Fraud Decisioning. This would have led to $2.1 About the Playbook.

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

Seon

JUNE 15, 2023

A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks. Ask an Expert CEO Fraud CEO fraud is a catch-all term for the exploitation of the account of a high-ranking organizational official, such as a CEO or an investor.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

FEBRUARY 27, 2020

Retail fraud attempts have doubled year over year, for example, while account takeover (ATO) fraud losses recently hit $14.7 billion , and phishing attacks now comprise 30 percent of all fraud attempts. Fraud continues to increase in many areas, despite extensive attempts to bring it to heel. One recent incident occurred at U.K.

Fraud Prevention 60

Fraud Prevention Account Takeovers Best Practices Data Breach 60

PYMNTS

NOVEMBER 7, 2016

There are those high-profile credit card data breaches that create massive headaches for merchants, while the Federal Bureau of Investigation has continually warned the nation about corporate phishing attacks that specifically target the B2B and supplier payment process, convincing businesses to pay a fake supplier.

Fed 77

Fed Secure Payments Task Force Security Federal Reserve 77

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.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

PYMNTS

JULY 21, 2020

This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). Criminals that successfully convince users to hand over login information can take control of the accounts and block out the original owners. Fraudulent Sellers.

P2P 60

P2P Scams Security Account Takeovers 60

Seon

MAY 8, 2024

Multi-Accounting Detection Through meticulous tracking of device and browser IDs associated with each user account, device intelligence facilitates the detection of multiple users accessing your platform from the same device, enabling proactive measures to preserve the integrity of your user base.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

The Fintech Times

JANUARY 22, 2024

per cent of total global airline revenue – and accounting for 46 per cent of all online fraudulent transactions. Airlines are susceptible to many of the same fraud tactics that plague all ecommerce enterprises: hacked customer accounts, employee misuse, phishing attacks, and customer service scams. per cent.

Payments 59

Payments On-Demand Volume Account Takeovers 59

PYMNTS

OCTOBER 11, 2017

Byrnes said there are three primary types of fraud: stolen credit cards, account takeover and friendly fraud. Account takeover certainly isn’t new , but it is on the rise. But banks sometimes issue their own white label eWallets, and, counterintuitively, these may not be as robust in terms of security and authentication.

Crime 44

Crime Account Takeovers eWallet Online and Mobile Banking 44

FICO

AUGUST 26, 2021

As a result, banks can confidently support all digital banking interactions across authentication, payments, and account maintenance while exceeding customer expectations. The solution gives users the freedom to design, simulate, and implement new fraud and financial crime strategies without technical constraints.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

JANUARY 19, 2021

Geolocation services are proving to be a powerful weapon against phishing attempts, account takeovers and other schemes. They can put additional safeguards in place – such as stepped-up authentication protocols – that help cement trust between end corporate or consumer users and their chosen FIs.

Online and Mobile Banking 90

Online and Mobile Banking Scams Addressing Account Takeovers 90