Finextra

JUNE 26, 2025

Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials.

Stablecoins

Fintech Finance

OCTOBER 22, 2024

The innovative SmarterPay Secure Signup service from the independent Hull-based payment solutions provider for businesses, slams the door shut on fraudsters using account takeover to drain bank accounts. The impact of having your bank account compromised and your hard-earned money siphoned off must not be underestimated.

Account Takeovers

PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth.

Account Takeovers

PYMNTS

OCTOBER 23, 2017

Ersell’s organization specializes in credit card and eCommerce fraud (including account takeover), which calls for different skills and strategies than, say, hacking into merchants’ websites. They’re using weak passwords – oftentimes, the same weak password for all of their online accounts. Growth Trajectory.

Account Takeovers

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.

Account Takeovers

PYMNTS

JUNE 22, 2018

Dave Endler, co-founder and president of security and fraud prevention solutions provider SpyCloud , noted fraudsters are increasingly turning to account takeovers. In a recent interview for this month’s Smarter Payments feature, Endler discussed the rise of account takeovers, and what companies and consumers can do to combat them.

Account Takeovers

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack? The most damaging form of BEC is account takeover (ATO) attacks.

Email Compromise

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.

Fincen

Fintech News

MAY 27, 2024

Account Takeover (ATO) and promotion abuse are common fraud tactics affecting APAC fintechs. A report by PwC highlighted that 67% of APAC consumers prioritise security when using digital services, indicating the importance of effective fraud prevention strategies but at the same time not compromising user convenience.

APACS

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Small businesses, in particular, are vulnerable as they may lack the advanced security infrastructure of larger corporations.

Account Takeovers

PYMNTS

NOVEMBER 16, 2020

Cybercriminals have sought to exploit philanthropic giving, consumer and small business stimulus payments, unemployment benefits and even the acquisition of personal protective equipment (PPE) as ways to leverage compromised data, steal money and make fraudulent purchases.

Identity Theft

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.

Account Takeovers

The Payments Association

DECEMBER 11, 2024

Among the top threats are account takeover (ATO), chargeback fraud and more complex schemes like money laundering, which use sophisticated methods to disguise illegal financial flows. The most successful approaches will prioritise creating frictionless user experiences without compromising security.

Fraud Prevention

PYMNTS

FEBRUARY 10, 2017

But Cagnoni noted that while a shimmer attack can be successful, it requires a lot of manual work, making its effectiveness limited by the number of actual users of the compromised POS or ATM. It’s expected that the number of account takeover attacks will also continue to grow. properties were compromised by a malware attack.

Account Takeovers

PYMNTS

NOVEMBER 9, 2018

In fact, more than one-third of consumers had their PII compromised in the last year, First Data’s 2018 Consumer Cybersecurity Study found. Fraudsters are using this data to pull off card-not-present (CNP) fraud schemes, such as account takeovers.

AI

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. Banks in other regions are also dealing with data breaches of their own, such as U.K. digital bank Monzo. market debut.

Online and Mobile Banking

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. and globally.

Fraud Prevention

PYMNTS

OCTOBER 26, 2016

From Wi-Fi hotspots to printers, unsecured routers to digital video recorders — connected devices can be vulnerable to hacks and, when compromised, are being used by hackers to launch significant distributed denial-of-service (DDoS) attacks. Going Beyond PCI.

Payment Security

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. Cybercriminals attempted to sell accounts and loyalty credits. So, what are the downsides? Hacks aren’t exclusive to the U.S.

Account Takeovers

The Fintech Times

APRIL 22, 2024

Security is failing to keep pace with smartphone utilisation with compromised digital wallets and banking apps leading to growing identity threats, a report has revealed. Despite company efforts, lax PIN hygiene and open apps on stolen devices pose serious threats, including account takeover and ransomware attacks.

Identity Theft

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. In simple terms, XOR gathers data on the information compromised in major breaches, Bonin said.

Account Takeovers

PYMNTS

DECEMBER 18, 2017

judge has sentenced a Nigerian man to three years and five months in prison for his role in a business email compromise scam. Reports said Adindu was arrested in 2016 and allegedly carried out business email compromise scams between 2014 and 2016.

Scams

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

PYMNTS

DECEMBER 9, 2020

The passwords, user names and Social Security numbers that once helped us prove we are who we say we are now are vulnerable or have already been compromised. At the same time, banks and other firms must find new ways to verify and authenticate users and gird against theft and account takeovers.

Privacy

PYMNTS

AUGUST 16, 2019

In the August Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of QSR rewards programs, including program debuts from Chipotle and Costa Coffee, revamped ordering solutions from Jersey Mike’s and Shake Shack and how credential stuffing and account takeovers are plaguing the industry.

Data Breach

PYMNTS

NOVEMBER 8, 2019

Fraudsters are wily, striving to stay one step ahead of authentication protocols and other efforts to stop bad actors from compromising consumers’ accounts. 1.5M: Number of individuals who have had new accounts opened in their names in connection with account takeover attacks.

Account Takeovers

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.

Security

PYMNTS

JUNE 14, 2017

PYMNTS asked Tom Byrnes, chief marketing officer at Vesta, to weigh in on the battleground of account takeovers and what can be done to protect sales and boost customer loyalty. Fewer than half of merchants have taken additional steps for account authentication solutions beyond standard login details.

Consumer

PYMNTS

FEBRUARY 18, 2020

This opens the door to new avenues of attack by those who wish to steal data, hijack accounts and make off with ill-gotten gains, as Eric Kraus, vice president of risk, fraud and compliance at FIS , told PYMNTS in a recent interview.

Fraud Prevention

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.

Accounts

PYMNTS

NOVEMBER 6, 2017

In September, the consumer credit agency Equifax reported that the personal information of roughly 143 million Americans was compromised in a data breach of epic proportions. billion each year and that account takeovers have seen a sharp spike of 45 percent in Q2 2017. percent from Q2 2016 to Q2 2017.

FS-ISAC

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. Other bad actors rely on phishing, in which potential victims receive links that direct them to fake login pages and ask them to input their account details.

Phishing

FICO

FEBRUARY 8, 2018

They’re going to associate their digitized face, fingerprint, iris or heartbeat with your account. This is what makes biometrics more risky than other forms of authentication comes after a compromise has occurred; once your biometrics are corrupted, how do you prove you’re really you?

Security

PYMNTS

OCTOBER 29, 2018

Payments and commerce fraud has its own ecosystem, one that includes criminals, servers and other computing devices, IP addresses, compromised payment cards and stolen personal data, and even houses and other physical locations.

Fraud Prevention

PYMNTS

MAY 8, 2020

Building that experience properly, he noted, means allowing consumers to create accounts with stored credentials and data — because to build a competitive digital service means building one that works smoothly, not one that consumers have to continually relog into.

Security

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. COVID-19 has afforded internet villains what will certainly go down as the greatest cybertheft opportunity of their shadowy lifetimes.

Scams

FICO

MAY 15, 2018

Be very careful before donating to a new charity; to do so, you typically need to create an account. If those details get compromised, you’re a potential victim for account takeover. Make sure you’re not revealing personal information that can be used in this way to a charity that you’re not absolutely sure is legitimate.

IRS