Payments Source

AUGUST 1, 2019

Most cloud storage systems have gaps that open the door to account takeover, API attacks and other threats, argues Pravin Kothari, founder and CEO of CipherCloud.

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Account Takeovers Breach Security API 104

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. What Do Fraudsters Do with Accounts They Have Taken Over?

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Account Takeovers Accounts Authentication Data Breach 52

PYMNTS

APRIL 7, 2020

“We cannot outright predict a pandemic any more than we can predict a data breach or an account takeover,” DataVisor CEO and Co-Founder Yinglian Xie recently told PYMNTS. What we can do, however, is empower organizations to proactively spot burgeoning crises early and take decisive action before extensive damage occurs.”

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Account Takeovers Data Breach Mitigation Breach 85

Seon

JANUARY 29, 2024

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. What Is Account Takeover Fraud?

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Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

OCTOBER 23, 2017

If fraud attacks are the flu, then the Equifax data breach was a raging fever: a symptom (albeit a dramatic one) of a larger illness that will almost inevitably infect any organization that hasn’t had its shots. They’re using weak passwords – oftentimes, the same weak password for all of their online accounts. Growth Trajectory.

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Account Takeovers Accounts Cybersecurity Bots 53

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

AUGUST 27, 2020

It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches. If any of them match up with the game's accounts, they're sold on the black market.

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Accounts Account Takeovers Data Breach Breach 115

PYMNTS

JUNE 22, 2018

A new report from cybersecurity firm Kaspersky Lab found more than four out of five Americans and nearly three out of every four Canadians report being stressed out about the recent pattern of data breaches. billion breaches for its customers’ personal data.

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Account Takeovers Accounts Data Breach Breach 43

PYMNTS

SEPTEMBER 29, 2017

That the Equifax breach will be a major watershed moment in the history of data security, impacting consumers nationwide for years to come, is not a terribly controversial point. It’s why — even before the Equifax data breach — firms were exploring advanced technologies to improve security, such as biometrics.

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Account Takeovers Accounts Data Breach Breach 41

Payments Source

NOVEMBER 19, 2017

Widespread data breaches have sparked a rise in account-takeover fraud using stolen consumer credentials, prompting merchants to crack down on suspicious purchases. But too many legitimate customers are getting caught in the process.

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Account Takeovers Data Breach Credential Breach 61

Fintech News

MARCH 20, 2024

This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution.

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APACS Fraud Prevention Deepfake Account Takeovers 109

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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Phishing Data Breach Breach Scams 64

Payments Source

DECEMBER 12, 2018

The Marriott incident will open the door to loyalty program fraud, account takeover and myriad other risks, writes Michael Reitblat, co-founder and CEO of Forter.

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Account Takeovers Breach Risk Accounts 67

PYMNTS

JULY 1, 2019

It’s open season for hacks on mobile order-ahead apps as data breaches continue to make headlines regularly and cybercriminals purchase stolen identities on darknet marketplaces. Account Takeovers Plague the QSR Industry. 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

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. Australian FIs are still feeling the repercussions of a breach to its New Payments Platform (NPP), which exposed the data of an unnamed number of banking customers.

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Online and Mobile Banking Account Takeovers Breach Data Breach 78

PYMNTS

APRIL 13, 2020

You have to really look through the whole digital transaction life cycle because, oftentimes, the fraud starts with account takeover because through massive data breaches that have happened and are still happening now, there are billions of usernames and passwords that are out there on the dark web and in the open market.”.

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PYMNTS

SEPTEMBER 24, 2018

Data breaches include the unwanted release or unauthorized use of company or customer records. 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.

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AI Account Takeovers Data Breach Cybersecurity 78

PYMNTS

AUGUST 16, 2019

Chipotle and Dunkin’ both reported rewards program breaches in recent months, with cybercriminals using stored payment information to make hundreds of dollars’ worth of fraudulent purchases. 7-Eleven Japan recently fell victim to a data breach that compromised approximately 900 customer accounts.

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Data Breach Breach Account Takeovers Credential 76

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.

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AI Fraud Detection Identity Theft Account Takeovers 88

PYMNTS

AUGUST 19, 2019

In the latest Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of QSR rewards programs and how credential stuffing and account takeovers are plaguing the industry. Chipotle is on the route to recovery after suffering setbacks due to food safety concerns, falling sales – oh, and an April data breach.

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Account Takeovers Data Breach Bots Credential 63

PYMNTS

SEPTEMBER 17, 2020

Sharing economy businesses looking to keep their guests safe must deter data breaches that continually threaten organizations and can allow cybercriminals to steal usernames and passwords to access accounts. Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second.

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Verification Authentication Economy Data Breach 89

PYMNTS

MARCH 29, 2017

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. number and types of data breaches associated with any individual customer.

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Fraud Prevention Account Takeovers Identity Theft Data Breach 40

FICO

FEBRUARY 19, 2020

Account Takeover Fraud. The ability to move money out of accounts instantly makes account takeover fraud more attractive to fraudsters. Meanwhile, constant data breaches mean that fraudsters have access to account details that they can simply buy on the dark web.

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Real Time Payments Financial Crimes Crime Account Takeovers 92

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. Four Steps to Protect Yourself from Charity Fraud.

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PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Gartner research director Ruggero Contu cited high-profile attacks, like the Equifax breach , as a key motivator behind this spend.

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PYMNTS

MAY 4, 2020

Banks must stay ahead of the criminals and are redesigning their fraud decisioning approaches to more quickly detect account takeovers without accidentally flagging genuine customers as fraudsters. Deep Dive: FIs And The Importance Of Customer Data.

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Online and Mobile Banking Credit Union Breach Data Breach 79

PYMNTS

FEBRUARY 22, 2018

But last year’s twist was that data breaches were after social security numbers more often than credit card numbers — though that imbalance (35 percent to 30 percent) was largely driven by one massive breach, the Equifax breach last fall. Account takeover surged 120 percent to hit $5.1 billion last year.

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Identity Theft Account Takeovers Push-to-Card Social Security 56

The Fintech Times

DECEMBER 18, 2023

“A never-ending stream of data breaches combined with highly sophisticated and technical attacks means the stolen personal information available on the dark web is continuously replenished. Cybercriminals use that information to impersonate people in positions of authority.

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PYMNTS

JUNE 25, 2018

Cybercriminals have a new favorite weapon in their quest to allude regulators, law enforcement and corporate security departments: account takeovers. Recent research reveals account takeovers have risen by 300 percent over the past year, with losses topping $5 billion. The Rise Of Account Takeovers.

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PYMNTS

AUGUST 7, 2020

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. Eighty-eight percent of surveyed managers expect the health crisis to increase the threat of financial fraud in regulated industries, including online gambling. .

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Phishing Data Breach Account Takeovers Verification 89

Finovate

JUNE 10, 2024

The capital will be used to expand the company’s solutions to help businesses investigate and defend themselves against cybercrime in general and account takeover fraud in specific. SpyCloud specializes in helping firms combat account takeover.

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Account Takeovers Credential Cybersecurity Breach 59

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. While there are many methods and consequences of a business email compromise, an email data breach compromise occurring in a business is essentially the result of a successful BEC.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

MARCH 28, 2018

According to LexisNexis , chargeback fraud accounts for 28 percent of all fraud that occurs at an eCommerce company, tied for first place with “ friendly fraud.” ” The impact of chargeback fraud and other transaction-related fraud — like account takeovers or payments fraud — on the bottom line is clear.

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Security Data Breach Account Takeovers Breach 44

PYMNTS

APRIL 12, 2017

Fueled by account takeovers facilitated by major data breaches, reports suggest that one out of every 86 CNP transactions today is deemed fraudulent, said Greg Bonin, COO of data-as-a-service company XOR Data Exchange. billion records from various major breaches.

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Account Takeovers Breach Risk Assessment Assessments 46

PYMNTS

OCTOBER 13, 2017

The Equifax data breach — impacting sensitive and valuable information ranging from Social Security numbers to birth dates and home addresses — affected more than 150 million people and counting, and it’s become clear that the “one-size-fits-all” approach is no longer effective.

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Data Security Account Takeovers Security Cybersecurity 41

PYMNTS

FEBRUARY 2, 2017

The rise of information available via data breaches is particularly troublesome for the industry and a boon for fraudsters. 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

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Account Takeovers EMV Research Data Breach 50

FICO

OCTOBER 30, 2017

Due to the surge in data breaches, Social Security numbers, mailing addresses, passwords, health history, even the name of our first pet is all for sale on the Dark Web. Where is the rise in identity-based fraud coming from?

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Identity Theft Account Takeovers Best Practices Data Breach 72