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 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

PYMNTS

MAY 5, 2020

The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

AUGUST 21, 2020

Hacking, cybercrime and various forms of digital fraud are a never-ending worry for digital-first banks, with fraudsters leveraging techniques as diverse as phishing schemes, identity theft, account takeovers and botnets to target both banks themselves and their customers. About The Tracker.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

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. The Lag in Fraud Detection: Are You Prepared?

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

PYMNTS

FEBRUARY 10, 2017

With today’s ability to hit thousands or even millions of users in a few hours through a phishing attack that infects laptops and smartphones, fraudsters could potentially grab a very large amount of credit card information typed in by users during their next online purchase,” Cagnoni explained. Identity Fraud On The Rise.

Account Takeovers 56

Account Takeovers CHIPS Chip Cards FFIEC 56

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

Clearly Payments

JULY 16, 2024

Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2% According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

The Fintech Times

DECEMBER 21, 2023

Despite the continued proliferation of the above payment innovations, comprehensive solutions offering a stellar user experience, robust fraud protection, and default safeguards akin to traditional credit cards remains elusive. First is an expected uptick in utilising AI for more complex processes, like data analysis and fraud detection.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. We know neobank risk teams must stay aware of evolving threats and take an active approach to closing those routes to fraud.

Identity Theft 52

Identity Theft Money Laundering Account Takeovers Fraud Prevention 52

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

AUGUST 18, 2017

Between account takeovers, business logic abuse, loyalty and reward points fraud and other cybersecurity attack methods, companies are not only suffering financial damages but brand image damages too. But they can’t detect an account takeover or business logic abuse.

Security 52

Security Account Takeovers Chip Cards Cybersecurity 52

FICO

SEPTEMBER 14, 2021

It is also possible to embed a malicious URL into a QR code that directs to a phishing site, where unsuspecting users could disclose personal or financial information.”. Follow me on Twitter @FraudBird for my thoughts on the latest developments in payments and fighting fraud. Broad Data Access Is Essential.

P2P 52

P2P Venmo Online and Mobile Banking PayPal 52

Nanonets

MAY 31, 2023

Common examples of external payment fraud include: Impersonation: Fraudsters pose as legitimate customers or vendors to deceive organizations into making unauthorized payments. Account Takeover: Criminals gain unauthorized access to customer accounts, allowing them to make fraudulent transactions or transfer funds.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

PYMNTS

NOVEMBER 4, 2019

In the company’s ongoing efforts to prevent fraud on its site, Amazon announced a new program, Intellectual Property Accelerator, last month to help sellers make sure their products won’t be copied or counterfeited. According to a new LexisNexis study , overall retail fraud attempts doubled year-over-year and tripled since 2017.

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 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

Seon

JULY 27, 2023

New fraud risks: New technology gives rise to new vehicles for attack, and FedNow’s systems will be no different. In fact, phishing attacks may become even more prevalent as FedNow rises in popularity. How Will FedNow’s Instant Payments Impact Fraud Detection?

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40

Trade Credit & Liquidity Management

MARCH 11, 2025

The extensive supply chains and large inventories typical of this sector create opportunities for deception, often making it hard to detect irregularities. Technology Industry: Rapid innovation and the ever-evolving digital landscape expose companies to risks such as intellectual property theft, cyber fraud, and phishing scams.

Due Diligence 40

Due Diligence Fraud Prevention Phishing Identity Theft 40

PYMNTS

APRIL 24, 2018

With the advent of technology and the prevalence of online shopping, the term eCommerce fraud has become more general and more vague. Of these, none are more insidious than Account Takeover, aka ATO. The vast majority of fraud attacks result from these data breaches. Nipping Fraud in the Bud.

Breach 50

Breach Bots Credential Data Breach 50

PYMNTS

SEPTEMBER 6, 2019

The healthcare industry is also busy fending off fraudsters in its contact centers, especially as seniors face an increase in phishing attempts and robocalls. Fraud protection is thus a high priority for all call centers, regardless of their industries.

MFA 49

MFA Authentication Phishing Verification 49