PYMNTS

JULY 21, 2020

This problem puts many at risk of falling victim to scams. This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). It also details how payment service providers can up their defenses against such threats. Fraudulent Sellers.

P2P 60

P2P Scams Security Account Takeovers 60

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

The Fintech Times

JUNE 1, 2024

.” Visa takes matters into its own hands As part of this pilot with Pay.UK, payments giant Visa analysed billions of UK account-to-account transactions, correctly identifying an additional 54 per cent of fraud and APP scams beyond those identified by the banks’ own fraud prevention systems.

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. “Fraudsters know that higher transaction volumes and a demand for fast processing times leave merchants vulnerable to attacks. Behavioral Biometrics Ensure You Are You .

Volume 72

Volume Transactions Account Takeovers Phishing 72

PYMNTS

JULY 17, 2020

Fraudsters are eager to take advantage of green app users who may be unfamiliar with the tools to scam them out of their funds, however. Identity verification and authentication solutions help financial institutions (FIs) block out fraudsters, but leveraging just one or two of these offerings may not be enough.

AML 64

AML Money Laundering Authentication Scams 64

PYMNTS

FEBRUARY 26, 2020

These merchants have always been vulnerable to in-person fraud, including coupon or promotion scams, but digital channels create new avenues that bad actors can exploit. Its AI system automatically blocks users who it determines are untrustworthy, and users can contest those decisions if they believe the AI has made a mistake.

Credential 56

Credential AI Account Takeovers Fraud Detection 56

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

Fintech Finance

AUGUST 19, 2024

These features use Generative AI (GenAI) and machine learning (ML) to help banks, credit unions, payments companies, and fintechs proactively detect and block risky transactions.

ACH 52

ACH Fraud Prevention AI Same Day ACH 52

PYMNTS

JANUARY 27, 2020

Such firms cannot grow safely without robust security measures blocking fraud and other abuses from their offerings. Immediate payments make it even more important for PSPs to ramp up surveillance of traditional fraudster schemes, such as account takeovers (ATOs), social engineering scams and synthetic identity abuse.

AML 62

AML Service Provider Real Time Payments Money Laundering 62

PYMNTS

FEBRUARY 14, 2020

While fraudsters are fond of experimenting with innovative scams, they do have a few favorite tricks. One way to authenticate consumers and block cybercriminals is thus no longer enough for businesses to protect their users, as fraudsters begin to create attack strategies that can carefully bypass more simplistic verification measures.

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

Seon

JUNE 15, 2023

The report states that these victims mostly lost their money to BEC scams. 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. Reported losses in 2020 exceeded $4.2 What Is a Business Email Compromise Attack?

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

Seon

MAY 8, 2024

The rise of generative AI is a double-edged sword, yielding significant productivity benefits while empowering fraudsters to craft more intricate and convincing scams at unprecedented volumes and velocities. This feature is invaluable in detecting phishing scams, especially in the financial service industry.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

PYMNTS

SEPTEMBER 28, 2017

The fact remains that the very data that is readily available across all conduits of transactions – from phone numbers to Social Security numbers – are there for the taking, across all manner of firms, and can be used as building blocks to create sophisticated ways to defraud the innocent. The former has been around for a long time.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

FICO

MAY 19, 2020

Blocked cards and frozen funds that are under investigation are a major headache to consumers and nimble organizations will be doing all they can to minimize these and to look at how they might make their policies more flexible. We need to be proactive in our communications to customers around scams.

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52