Finovate

JUNE 10, 2024

Austin, Texas-based cybersecurity firm SpyCloud has raised $35 million in funding. 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. Foremost among these strategies is better password hygiene.

Account Takeovers

PYMNTS

JULY 21, 2020

Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased 129 percent during the same period. Fraudsters are teaming up to rip off FIs, forming elaborate rings that work cooperatively on account takeovers and phishing attempts. billion pounds ($5.2

Crime

PYMNTS

DECEMBER 2, 2019

Cybersecurity firm Radware told NBC that as much as 97 percent of online retail traffic comes from bots in the week leading up to Black Friday and Cyber Monday. If individuals are reusing passwords across multiple sites, they are most susceptible to an account takeover attack and illicit transactions within their account,” Beckner told NBC.

Bots

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

FICO

FEBRUARY 8, 2018

As an adult with a serious professional interest in security, I am surprised as to why bright, well-informed data and cybersecurity professionals don’t feel more insecure about the efficacy of biometric information as a security device. Is it because biometrics are today's security blanket? The Myth of Biometric “Security Blankets”.

Security

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. This comes to approximately one hack every 39 seconds, and affects a wide range of businesses and customers.

Phishing

PYMNTS

OCTOBER 30, 2017

The good guys – the financial institutions, retailers and cybersecurity firms – have to be right every time, finding all available windows and making sure they are entirely locked at all times. Account takeover fraud is a growing concern, but Krebs noted that institutions and customers are better armed against it.

Identity Theft

PYMNTS

APRIL 9, 2018

The incident, and similar breaches, reveal the limitations of cybersecurity, even as corporates worldwide continue to increase their investments in the latest-and-greatest security technologies. last December pegged global spending on cybersecurity by corporates will hit $96.3 Estimates from Gartner, Inc.

Data Breach

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. Employees with an email address ending in the domain “QSR123.com,” com” flagged. .

Phishing

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.

Scams

PYMNTS

OCTOBER 27, 2017

Well, for one, account takeovers, which are on the rise. According to the October 2017 Global Fraud Index, a PYMNTS and Signifyd collaboration, account takeover has spiked 45 percent in Q2 2017 alone. That was before Equifax flooded the dark web with the personal credentials of every adult in the United States.

AI

PYMNTS

MAY 16, 2019

Members of the group located in Bulgaria and Ukraine then took control of victims’ online bank accounts and stole money out of their accounts. Reuters reported that 10 of the network’s members have been charged with conspiracy to steal online banking credentials. Attorney Scott Brady said at a news conference in The Hague.

Phishing

PYMNTS

JANUARY 24, 2020

Online commerce means businesses’ cybersecurity teams need to collaborate more tightly than ever, Fox explained. The degree to which an issuer is able to establish trust in a consumer’s identity … and [bind] it to strong credentials is the same degree to which you can have a trusted transaction with a merchant,” he said.

Issuers

PYMNTS

JUNE 26, 2018

Account takeovers are finding favor among fraudsters. Account takeovers have the double-barreled effect of being easier to complete successfully — for the bad guys — and are harder to head off (by the good guys). Furthermore, the company said that bots are being used to abuse stolen credentials.

Account Takeovers

PYMNTS

OCTOBER 26, 2018

Maeder, co-founder of the Loyalty Fraud Prevention Association , a group that offers resources, information and best practices to companies with loyalty programs, digital fraudsters have been using account takeovers (ATOs) to target these offerings. They could also help curb other types of cybercrime that plague the industry.

Fraud Prevention

PYMNTS

APRIL 14, 2017

For example, some fake accounts perform normal user activities such as logging in, updating a profile, following other users, etc., This technique of aging fake accounts can make the malicious accounts appear very similar to other users and evade detection. Another dangerous attack is account takeover (ATO).

Account Takeovers

The Fintech Times

AUGUST 13, 2024

Brazil and Mexico were the most affected, recording millions of phishing attempts aimed at stealing financial data and credentials. Behavioural biometrics Other key AI-powered fraud prevention approaches gaining traction in the region include behavioural biometrics to detect account takeovers.

AI

PYMNTS

MARCH 3, 2020

Retail fraud attempts have doubled year over year and tripled since 2017, for example, while account takeover (ATO) fraud losses recently hit $14.7 These services are] a great way to help protect your employees from attackers coming through with leaked credentials or passwords.”.

Federal Trade Commission

Seon

JUNE 24, 2024

Still, the pursuit can be defined as endeavors that ensure secure and reliable digital identity management, including preventing unauthorized access to sensitive information, such as login credentials, PII and financial information. Employee training on identity risk management best practices strengthens organizational defenses.

Risk Management

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

The Fintech Times

MARCH 21, 2025

With fraud remaining one of the biggest challenges in financial services, Alkami aims to provide a proactive, behaviour-based approach to fraud prevention, enabling financial institutions to identify and stop account takeover fraud before money disappears.

Fraud Prevention