Finextra

JUNE 26, 2025

The global digital payment landscape is experiencing a period of explosive growth, with e-retail sales projected to approach $8 trillion by 2025. billion by 2027, with e-commerce businesses alone anticipated to incur an estimated $48 billion in losses to online payment fraud in 2023. billion in 2024.

Stablecoins

Payments Source

JUNE 9, 2020

Identity fraud holds no prisoners when it comes to payments. If a fraudster gets hold of a consumer's credentials, everything from mobile wallets, to a checking account, savings account or P2P account is in jeopardy of takeover.

Account Takeovers

Fintech News

SEPTEMBER 22, 2024

New account creation fraud refers to the act of fraudsters creating new accounts, often using stolen or synthetic identities, to access online services or obtain lines of credit. Payment fraud, in which stolen payment credentials are used to make illegal transactions, rose by 9% YoY, signaling heightened financial risks for banks.

Accounts

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?

Account Takeovers

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?

Account Takeovers

PYMNTS

MARCH 17, 2020

With a new solution announced Tuesday (March 17), identity trust and digital fraud protection firm Kount seeks to help people avoid the pitfalls and annoyances of account takeover fraud. That includes everything from bots, credential stuffing and malicious, intentional human hacking activity.

Account Takeovers

PYMNTS

FEBRUARY 24, 2020

Account takeovers, brute force attacks and credential stuffing are some of the most popular methods, with rewards and loyalty programs being especially tempting targets for their stored payment data and personally identifiable information. Deep Dive: How AI Helps QSRs Stop ATOs And Credential Stuffing.

Account Takeovers

PYMNTS

FEBRUARY 26, 2020

Rewards programs are especially popular among hackers as they can hold large amounts of valuable data, including payment information. Rewards points are also valuable as bad actors can either spend them or sell them on dark web marketplaces. Mexican QSR Chipotle is another mobile order-ahead player leveraging AI for security.

Credential

PYMNTS

MARCH 14, 2020

Attackers use a variety of sophisticated methods to attack eCommerce sites or abuse APIs that connect payment processors to online shopping carts,” the report states. percent of all eCommerce fraud , is still account takeover. Next, the fraudster essentially takes over the account and purchases from the site.

Account Takeovers

PYMNTS

NOVEMBER 16, 2020

As consumers turn to more digital, rather than customer-present interactions, it changed a lot of the ways consumers are interacting with payment systems,” Ragan told PYMNTS. Consumers should also take pains not to re-use passwords and strive to use good credential management. At The Consumer Level.

Identity Theft

Fi911

JULY 8, 2024

Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases. Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge.

Account Takeovers

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

The Fintech Times

DECEMBER 18, 2023

Some have outlawed payment of ransom demands, and frankly, victims have become less inclined to pay a ransom. “A similarly damaging trend is account takeovers (ATOs) where a bad actor gains access and takes over an online account using stolen or hacked credentials.

Cybersecurity

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.

Account Takeovers

The Payments Association

NOVEMBER 20, 2024

From payment card fraud and identity theft to chargeback fraud and refund fraud, scammers are continuously devising new ways to siphon money away from cardholders and merchants illegally. Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft.

AI

PYMNTS

MAY 27, 2020

Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem that will only worsen if financial institutions (FIs) are not vigilant. Fraudsters equipped with such information could then easily access victims’ online accounts using legitimate credentials and take control of the customers’ funds.

Scams

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

PYMNTS

OCTOBER 26, 2016

Intel Director of Mobility and Secure Payments Michelle Tinsley noted that, oftentimes, businesses are so hyper-focused on safeguarding payment data and PCI compliance that they easily lose sight of the other places where consumer data is left unprotected. Going Beyond PCI. to provide additional layers of security.

Payment Security

PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. The nature of these payments means that consumers cannot reverse them once the payments have been made.". Behavioral Biometrics Ensure You Are You .

Volume

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials.

Blocks

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. When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature.

Account Takeovers

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. Such tools enable users to log in using few steps, and bots are unlikely to be able to fake credentials that depend on unique physical traits.

Credential

PYMNTS

APRIL 2, 2020

The trouble, Kount ’s Chief Customer Experience Officer Rich Stuppy told PYMNTS in a recent conversation, lies in discerning a good customer from the fraudster who has stolen their payment credential, lifted their identity or taken over their account.

Account Takeovers

PYMNTS

AUGUST 5, 2020

Online, they are providing payment credentials, a delivery address and very likely have created an account with the retailer,” he said. That has an account name and password that includes an email address and information like when their birthday is. But put the same consumer online and the story is very different.

Security

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.

Account Takeovers

PYMNTS

SEPTEMBER 21, 2018

This year, fraud will probably bring more account takeovers than last year, according to experts — along with the theft of gift cards, loyalty points and other consumer data ID. Account Takeovers. The 2018 holiday shopping season seems likely to feature account takeover as a bigger fraud feature than in years past.

Account Takeovers

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. The hackers made more than ¥55 million ($500,000 USD) worth of fraudulent purchases before 7-Eleven suspended the app’s mobile payment functionality.

Data Breach

Clearly Payments

JULY 16, 2024

Fraud in payment processing poses a threat to businesses across various industries. Retail Industry The retail sector is particularly susceptible to payment fraud due to the high volume of transactions and the widespread use of credit and debit cards. Each industry faces unique challenges and vulnerabilities.

Risk

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. 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?

Email Compromise

PYMNTS

MAY 28, 2020

“The combination of eCommerce growth and the increasingly sophisticated fraudster universe, which dynamically adapts to societal and business changes, poses a threat requiring new strategies and ongoing investments,” Tim Sloane, vice president of payments innovation at Mercator, said in announcing the results. “As

Fraud Detection

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. Other companies were less prepared and expected to struggle to process invoices and miss some payments. Next-Level Payments Security.

Scams

PYMNTS

SEPTEMBER 24, 2020

And in Asia especially, amid the battle of the super-apps, the goal is to drive as much activity through those apps and mobile wallets as possible, through QR payments in shops, lending, ride-hailing and food delivery (to name just a few use cases). China and India alone account for roughly half of the globe’s smartphone-using population.

APACS

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. Attacks launched via newly registered accounts drove most of the uptick, having increased more than 70 percent. Why Online Gaming Appeals To Fraudsters .

Phishing

FICO

MAY 15, 2018

In the age of data breaches, self-broadcasting of personal information, and ever more-sophisticated fraudsters, here are four steps you can take to protect yourself: Be diligent and vigilant about who you’re giving your personal information and credentials to. If those details get compromised, you’re a potential victim for account takeover.

IRS

PYMNTS

AUGUST 10, 2020

With this kind of digital nastiness afoot, game platforms and their payments and technology partners are beefing up security in the space, keeping winners and losers on-screen only. Gaming the System.

Credential

PYMNTS

JUNE 26, 2018

Faster payments are smarter payments. Safer payments are smarter payments, too. In the latest Smarter Payments Tracker, the opportunities and challenges tied to a truly connected financial system were key subjects. Account takeovers are finding favor among fraudsters.

Account Takeovers

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