PYMNTS

NOVEMBER 17, 2020

During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud. This spike was the largest increase in Amazon-related phishing attempts since March, when the COVID-19 pandemic forced Americans indoors and made them rely on the marketplace more than ever before.”.

Volume 72

Volume Transactions Account Takeovers Phishing 72

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.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

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 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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. Other fraudsters may go directly after restaurant employees with phishing schemes, a popular method for gaining access to data.

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

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. Such details can also be acquired via phishing schemes. CNP schemes hurt businesses as much as they hurt consumers.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

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

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 63

Scams Automation Phishing Email Compromise 63

Braintree

AUGUST 26, 2019

It is effective against various forms of phishing attacks, where malicious actors trick users into giving them login credentials. 1 Traditional two-factor authentication methods, like SMS codes and authenticator apps, offer protection against basic types of phishing attacks.

Authentication 52

Authentication Phishing Account Takeovers Breach 52

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. Ask an Expert CEO Fraud CEO fraud is a catch-all term for the exploitation of the account of a high-ranking organizational official, such as a CEO or an investor.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

MAY 16, 2019

According to a report in Reuters , the Eastern European GozNym network, whose leader resides in Tbilisi, Georgia, sent phishing emails to install malware on more than 41,000 computers. Members of the group located in Bulgaria and Ukraine then took control of victims’ online bank accounts and stole money out of their accounts.

Phishing 46

Phishing Account Takeovers Credential Encryption 46

PYMNTS

OCTOBER 30, 2017

Account takeover fraud is a growing concern, but Krebs noted that institutions and customers are better armed against it. Moreover, consumers tend to be aware of things like their banks accounts, and a credit card statement with a balance that’s a few thousand dollars north of where it should be tends to draw attention.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

The Fintech Times

DECEMBER 18, 2023

It also improves the user experience by eliminating the need for multiple passwords or log in credentials. From phishing attempts, to account takeover attacks, many of the most pressing online fraud issues have emerged directly from the vulnerabilities of static point-in-time authentication systems.

Authentication 64

Authentication Continuity Security Account Takeovers 64

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.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

Clearly Payments

JULY 16, 2024

According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% Account Takeover (ATO): Fraudsters gain unauthorized access to customer accounts to steal funds or conduct illicit transactions. In 2023, 83% of financial institutions reported an increase in phishing attacks.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

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 53

Federal Trade Commission FTC Account Takeovers Ransomware 53

Innovative Payments Association

JUNE 26, 2024

Just a few days ago I learned that my mother was the victim of bank account fraud. Monitor Accounts: Regularly monitor your bank and credit card statements for any unauthorized transactions. Like most things, fraud hits a little differently when it is closer to home.

Scams 52

Scams Federal Trade Commission Identity Theft Law Enforcement 52

PYMNTS

JULY 21, 2020

This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). Criminals that successfully convince users to hand over login information can take control of the accounts and block out the original owners. Fraudulent Sellers.

P2P 60

P2P Scams Security Account Takeovers 60

PYMNTS

MAY 24, 2017

According to recent research , 71 percent of breaches occur using passwords that were either weak enough to be cracked by bad actors or stolen from an usually unwitting human via a phishing scam. They will come in, do a fake phishing scam, a fake malware download, a fake password request and see how many people follow through with it.

Authentication 40

Authentication Credential Ransomware Phishing 40

The Fintech Times

AUGUST 13, 2024

Latin America also saw a staggering 617 per cent increase in phishing attacks in 2023, with cyber criminals using AI to craft more realistic and targeted phishing emails. Brazil and Mexico were the most affected, recording millions of phishing attempts aimed at stealing financial data and credentials.

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

Seon

MAY 8, 2024

Multi-Accounting Detection Through meticulous tracking of device and browser IDs associated with each user account, device intelligence facilitates the detection of multiple users accessing your platform from the same device, enabling proactive measures to preserve the integrity of your user base.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

PYMNTS

OCTOBER 11, 2017

Byrnes said there are three primary types of fraud: stolen credit cards, account takeover and friendly fraud. Criminals often use these credentials to buy purely digital goods, such as concert tickets, so they can receive and resell the goods as quickly as possible, said Byrnes. The Modern Face of Fraud.

Crime 44

Crime Account Takeovers eWallet Online and Mobile Banking 44

PYMNTS

APRIL 9, 2018

Gemini Advisory, which first identified the breach at Hudson’s Bay, suggests human error was to blame: An employee likely clicked on a malicious link sent via a phishing scam. IBM warned that some of the most common human errors linked to data breaches involve “basic misjudgment.” To err is human,” IBM said in its report.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

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 52

Credit Cards Risk Online and Mobile Banking Phishing 52

FICO

JUNE 4, 2018

Phishing, Smishing, Hypnofraud and More. Fraudsters use a range of tactics to commit social engineering; email (phishing) and text message (smishing) are time-tested winners. Fraudsters use a range of tactics to commit social engineering; email (phishing) and text message (smishing) are time-tested winners.

Demand Deposit Account (DDA) 40

Demand Deposit Account (DDA) Smishing Payer IRS 40

PYMNTS

APRIL 12, 2019

That comes, for example, as fraudsters gain access to a firm’s internal operations and use the ACH methods for account takeovers. Said Adrien Gendre, chief solution architect for Vade Secure, on the site: the email scams “are not isolated, that’s for sure.”.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

MAY 27, 2016

I was reminded yesterday in my digital discussion with the CEO of Forter, Michael Reitblat, that 83 percent of the fraud attacks last year were the result of botnets, besting some of the more “tried and true” tactics like account takeovers and phishing.

SWIFT 43

SWIFT Bitcoin Online and Mobile Banking ATM 43

PYMNTS

APRIL 24, 2018

Of these, none are more insidious than Account Takeover, aka ATO. When someone becomes a victim of ATO, they lose more than money and login credentials — they lose confidence. Then, there’s classic email phishing which uses social engineering to persuade customers to divulge their personal information.

Breach 50

Breach Bots Credential Data Breach 50