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. The Ineffectiveness of Card Verification in the Digital Age.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

M2P Fintech

MARCH 24, 2025

Back in the day, loan management system s were synonymous with pile s of paperwork involving intricate manual calculations and lengthy verifications, leading to slow approvals. However, the influx of data from growing loan portfolios soon became overwhelming, slowing decisions. over the forecast period of 2024 to 2032.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Underwriting 52

The Payments Association

NOVEMBER 20, 2024

Finally, AI tools also have applications in identity verification. Merchants who invest in these tools may be able to reduce instances of account takeover fraud or identity theft. Scammers may also obtain cardholder information from data breaches or use stolen login credentials to access other payment platforms.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

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.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

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.

Phishing 64

Phishing Data Breach Breach Scams 64

Finextra

JUNE 26, 2025

A compelling study highlights this long-term impact, revealing that 47% of consumers would permanently cease shopping with a retailer following a data breach involving their payment card information. Beyond the quantifiable financial damage, fraud severely erodes customer trust and significantly tarnishes brand reputation.

Stablecoins 52

Stablecoins Payment APIs and Integration Fraud Prevention Cross-Border 52

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. These methods could be especially useful for online age-verification processes, as biometric measures are highly accurate and difficult to fake. .

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

Finovate

AUGUST 14, 2024

Digital identity verification innovator Socure has unveiled its Selfie Reverification solution. Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential.

Credential 65

Credential FinTech Deepfake Fraud Detection 65

Finextra

JUNE 26, 2025

A compelling study highlights this long-term impact, revealing that 47% of consumers would permanently cease shopping with a retailer following a data breach involving their payment card information. Online Seller Verification and Customer Review Fraud Prevention. Pay with TRIO offers: Settlement in minutes. transaction fees.

Stablecoins 52

Stablecoins Payment APIs and Integration Cross-Border Account Takeovers 52

The Fintech Times

MAY 17, 2024

New data from Jumio , the automated, AI-driven identity verification and compliance solutions provider, comes from its new 2024 Online Identity Study , the third instalment of its annual global consumer research.

Deepfake 69

Deepfake Identity Theft Consumer Verification 69

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.

Account Takeovers 46

Account Takeovers Breach Risk Assessment Assessments 46

PYMNTS

FEBRUARY 10, 2017

It’s expected that the number of account takeover attacks will also continue to grow. 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 has fallen significantly behind the curve. A large chunk of U.S.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards FFIEC 56

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 46

Account Takeovers Breach Compromise Payments 46

PYMNTS

MARCH 20, 2020

Many online firms are embracing the concept of well-placed frictions in authentication processes to foil such attempts, adding just enough verification to keep bad actors from success without alienating legitimate users in the process.

Fraud Prevention 90

Fraud Prevention Account Takeovers Phishing AI 90

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. Healthcare data breaches increased by 55% in 2023, affecting over 29 million records.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

OCTOBER 26, 2016

. “There’s no way the guest Wi-Fi at a retailer is going to let you into the point of sale; however, it would let you into the system, which then may be able to get to where the consumer data is,” Tinsley explained, “because they’ve thrown that consumer data on the other side of the firewall from the payment.”.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

MARCH 30, 2016

This cloud-based, real-time identity verification tool also helps validate returning customers/prospects; it also protects transactions types, including account creation, login authentication and payment authorization. It is also used to prevent account takeover, payment fraud, identity spoofing, malware and data breaches.

Account Takeovers 41

Account Takeovers Fraud Detection Best Practices Fraud Prevention 41

PYMNTS

FEBRUARY 22, 2019

The fallout hits everyone involved via a fraudulent transaction, and, as the data shows, account takeovers are on the rise. Establishing identity in the digital world is proving to be a fluid process, as questions are multiplying around the collection, processing and ownership of data. “If

Credential 52

Credential Account Takeovers Authentication Ubiquitous 52

FICO

JUNE 20, 2019

Of this, over $ billion n is attributed to subscription fraud and account takeover. An increasing amount of data breaches across all industries. As many services now employ the smart phone as a contact point for verification, such as a One Time Passcode via SMS. A ‘convergence’ of fraud. appeared first on FICO.

Account Takeovers 45

Account Takeovers Verification Data Breach Bots 45

FICO

AUGUST 1, 2019

With the rapid rise of data breaches around the globe, the fear of identity theft is at an all-time high. I recently attended a conference where US Postal Inspector Brian Plants shared his perspective on the manifestation of a classic account takeover scheme. Fraudsters are nothing if not creative.

Identity Theft 40

Identity Theft Credit Cards Account Takeovers Data Breach 40

FICO

JUNE 20, 2019

Of this, over $7 billion is attributed to subscription fraud and account takeover. An increasing amount of data breaches across all industries. As many services now employ the smart phone as a contact point for verification, such as a One Time Passcode via SMS. A ‘convergence’ of fraud. by Mel Prescott.

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

FICO

JUNE 20, 2019

Of this, over $7 billion is attributed to subscription fraud and account takeover. An increasing amount of data breaches across all industries. As many services now employ the smart phone as a contact point for verification, such as a One Time Passcode via SMS. A ‘convergence’ of fraud. by Mel Prescott.

Account Takeovers 40

Account Takeovers Verification Data Breach Bots 40

PYMNTS

JULY 29, 2019

The Martins stated that security has been a top focus for the platform, particularly as data breaches become more common. This verification method proven to be a robust defense against account takeovers, while also providing seamless experiences for customers. Keeping the cup secure.

Account Takeovers 46

Account Takeovers Authentication Push-to-Card Data Breach 46

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

AUGUST 27, 2020

This includes application fraud – i.e. a fraudster uses a stolen or synthetic identity to open an account and account takeover fraud - where fraudsters know enough about someone to login to their accounts and take them over. Remote working doesn’t only impact the organisation in terms of how it authenticates employees.

Authentication 52

Authentication Online and Mobile Banking Breach Risk 52

Seon

JUNE 24, 2024

Credit card fraud accounted for 34% of these statistics, indicating fraud’s pervasive and industry-agnostic nature. Cybercriminals often employ sophisticated tactics, such as synthetic identities, account takeovers (ATOs) and exploiting unsuspecting individuals through socially engineered schemes.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Nanonets

MAY 31, 2023

Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds. Data Breaches: Hackers infiltrate the organization's systems or third-party platforms to steal sensitive payment information and use it for fraudulent purposes.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

SEPTEMBER 28, 2017

In a conversation with PYMNTS’ Karen Webster, David Barnhardt, executive vice president of product at full-service payment and ID verification solutions provider GIACT Systems , said the estimated costs of synthetic identity fraud to credit card firms will come in at $8.5 billion in credit card charge-offs in the next year alone.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

Nanonets

MARCH 30, 2023

AP Automation solutions establish automated payment controls, including Segregation of Duties, Dual-Factor Authentication, and Positive Pay Files, which prevent internal fraud and protect against account takeovers. This can help prevent errors and avoid sending payments to the wrong recipient.

Automation 52

Automation Transactions Wire Transfer ACH 52

Fintech Labs Insights

DECEMBER 20, 2016

At its FinDEVr Silicon Valley debut this fall , digital authentication specialist NuData demonstrated how its technology, NuDetect , enabled verification using a combination of behavioral biometrics identification and analytics, device location, and entity linking.

Security 17

Security Identity Theft Account Takeovers Fraud Detection 17

PYMNTS

SEPTEMBER 6, 2019

Consumers are losing faith in passwords, PINs and similar KBA verification methods, but they also refuse to sacrifice speed and convenience for greater security — quick and easy user enrollment remains a top priority for that same 91 percent of call center industry leaders.

MFA 49

MFA Authentication Phishing Verification 49

PYMNTS

SEPTEMBER 11, 2019

He pointed to password managers and services that alert consumers to the fact that passwords may have been exposed in data breaches (and so must be discarded). We’ll see more account takeovers, we will see more theft and certainly more identity theft. Nothing lasts forever, of course.

Authentication 72

Authentication Identity Theft Account Takeovers Checks 72

The Payments Association

JANUARY 14, 2025

According to Nick Davey, OBL, who shared insights from a six-month data collection exercise covering 60% of the UK market, the threat is evenly split between authorised and unauthorised fraud. Fraudsters often exploit advanced social engineering tactics to deceive consumers into granting access to their accounts.

Fraud Prevention 88

Fraud Prevention Financial Crimes Crime Participant 88