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BioCatch
MARCH 17, 2025
Secret Service agent with decades of experience combating financial crimes, I've seen how identity theft has transformed into a well-oiled machine, exploiting every vulnerability in our digital and financial systems. As a retired U.S.
The Fintech Times
FEBRUARY 3, 2025
Account takeover scams saw a dramatic increase of 250 per cent last year. Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft.
81 
FICO
OCTOBER 30, 2017
Identity theft is growing at an exponential rate, leading to a rise in application fraud. Javelin Research reported a 17% rise in reported US identity theft victims , from 13.1 Identity theft, also known as third-party fraud losses, is just the tip of the iceberg. million to 15.4 Am I missing a topic?
Payments Source
MARCH 17, 2020
Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.
PYMNTS
OCTOBER 13, 2020
The Federal Trade Commission reported recently that credit card fraud is now the most common form of identity theft. Merchants must be on the lookout for a variety of criminal activities, and credit card fraud is an increasingly important one. Read more in the Tracker.
Seon
JANUARY 29, 2024
This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud? In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials.
Fraud.net
MARCH 1, 2024
Understand the mechanics of account takeover fraud and discover effective prevention strategies to safeguard against ATO attacks.
The Fintech Times
APRIL 22, 2024
In 62 per cent of smartphone theft cases, businesses face severe financial and cybersecurity risks. Despite company efforts, lax PIN hygiene and open apps on stolen devices pose serious threats, including account takeover and ransomware attacks.
Fintech Review
APRIL 20, 2025
It covers the tools, platforms, and strategies that defend against data breaches, fraud, identity theft, and financial disruption. The risks range from phishing and account takeovers to ransomware and insider threats. Cybertech sits at the intersection of cybersecurity and fintech. What Is Cybertech?
59 
FICO
NOVEMBER 24, 2020
Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. With that in mind, there are actions you can take right now to protect yourself from fraud and identity theft. COVID-related scams are rampant and rapidly evolving.
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. Finally, AI tools also have applications in identity verification.
88 
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. What does it have to do with identity theft? I recently attended a conference where US Postal Inspector Brian Plants shared his perspective on the manifestation of a classic account takeover scheme.
PYMNTS
JULY 9, 2020
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.
104 
Fi911
JULY 8, 2024
This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases.
PYMNTS
AUGUST 21, 2020
These machines can be vulnerable to fraud, however, ranging from physical techniques like card skimmers to digital methods like identity theft. Interactive teller machines (ITMs) offer a variety of services that are normally only available inside a physical branch, like loan applications and cash deposits.
106 
The Fintech Times
FEBRUARY 21, 2024
Identity theft to open a new account is the top-ranked concern at 30 per cent. Bank account takeover was ranked the crime most feared by 20 per cent of respondents. Biggest fears The FICO report also identifies the financial crimes that consumers are most worried about.
122 
PYMNTS
NOVEMBER 16, 2020
Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.
118 
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.
71 
Fi911
JANUARY 18, 2024
They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.
Fintech News
SEPTEMBER 29, 2024
As early as 2021, CNBC reported that criminals were exploiting weaknesses in the application processes of BNPL platforms, often using clever tactics like identity theft and account takeovers, making unsuspecting victims foot the bill. BNPL fraud is not a new phenomenon.
131 
Fi911
JULY 19, 2024
It includes fraudulent transactions, account takeover, and identity theft. Fraud These reason codes are used when the cardholder claims that their card was used without their authorization or knowledge. EMV Liability Shift Counterfeit Fraud 10.2: EMV Liability Shift Non-Counterfeit Fraud 10.3:
103 
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. million cases of medical identity theft, resulting in $41 billion in losses.
52 
PYMNTS
JUNE 22, 2020
Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. When it comes to identity and risk management, there are so many smaller hills along the way that you have to scale and figure out: Is this a fraudster?
The Fintech Times
MAY 17, 2024
Overall, 68 per cent of respondents either know or suspect that they’ve been a victim of online fraud or identity theft, or that they know someone who has been affected. Finding a solution Identity verification is a key part of the solution for companies looking to secure themselves and ensure that their users are genuine.
69 
PYMNTS
MARCH 29, 2017
Online retailers just got a new tool in the fight against identity theft and fraud. XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows.
Fintech News
JUNE 6, 2024
Benefits of Digital Identity Verification Beyond Security The adoption of a complete and flexible identity verification platform, such as Jumio’s, is becoming increasingly important in the fight against scams and AI-driven fraud.
109 
Stax
NOVEMBER 11, 2024
Not only does this pass through more hands and take more time than an electronic ACH payment , but there is also a huge amount of personal information present on a paper check, exposing the payer to potential identity theft. Beyond the inconvenience of mailing a paper check, there is an increased risk of identity theft.
88 
The Fintech Times
AUGUST 17, 2024
Insights from behavioural analytics help mitigate: fraud in real-time prevent identity theft account takeover bot attacks next-generation bot attacks fraud rings This will empower businesses to provide a seamless customer experience. Jack Alton, CEO at NeuroID “We are in a new era of fraud driven by AI.
59 
PYMNTS
FEBRUARY 22, 2018
Hackers who used to amuse themselves stealing credit cards have raised the level of their identity theft game such that 2017 was a record year — 16.7 Also having a record breaking year — powered by all those stolen social security numbers — was new account fraud, which rocketed up 70 percent in 2017. That fraud run saw $16.8
Finovate
OCTOBER 24, 2024
Effectiv, which demoed at FinovateFall 2023, was founded in 2021 to provide an open platform that integrates a wide range of risk solutions– including identity and payment fraud controls, underwriting, Know Your Business (KYB) and anti-money laundering (AML) tools– to facilitate decisions in real-time.
64 PYMNTS
OCTOBER 26, 2016
With massive cyberattacks like the recent Yahoo data breach — which compromised the personal data of an estimated 500 million user accounts — it’s clear that payment data isn’t the only information that needs to be protected. to provide additional layers of security.
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. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.
PYMNTS
AUGUST 29, 2019
Account takeovers (ATOs), identity theft and phishing were found to be the most common methods of attack in this region. A recent report found that ASEAN nations are projected to lose $260 million to online fraud this year, with eCommerce companies bearing the brunt of these losses.
PYMNTS
OCTOBER 29, 2018
The various parts come together to produce a nefarious whole, one that targets personal and payment data to enable product or identity theft , account takeovers and other illegal activities that, left unchecked, can ruin lives and take down companies.
Accertify
NOVEMBER 16, 2023
Key topics include some of the year’s biggest trends such as identity theft and the use of synthetic identities, romantic scams, Authorised Push Payment (APP) fraud and GenAI fraud. Accertify feature on page 77 and you can access the report here.
FICO
MAY 15, 2018
As a drumbeat of data breaches becomes the new reality — 42% of organizations breached in 2017 were breached in the past — it’s easy for consumers to throw up their hands and brace themselves for becoming a victim of identity theft or other financial crime. Check yourself before you wreck yourself.
63 
The Fintech Times
MARCH 6, 2024
Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering. In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies.
59 PYMNTS
OCTOBER 30, 2017
According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. The Many Ways To Play At Fraud.
The Paypers
OCTOBER 2, 2018
(The Paypers) A TransUnion study has revealed that 94% of financial services have experienced fraud within the last two years, such as identity theft, synthetic identity fraud or account takeover.
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.
64 
Finovate
AUGUST 14, 2024
Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. Founded in 2012 and headquartered in New York, Socure most recently demoed its technology on the Finovate stage at FinovateFall 2017.
64 
PYMNTS
JANUARY 16, 2020
Synthetic identity theft — and all its subsequent fraud events — remains a treasured tactic among cybercriminals, and even today’s AI has trouble detecting it. These fraudsters, on average, take about 12 to 18 months to build out false identities that can fool many of the anti-fraud measures in use.
53 
FICO
JANUARY 22, 2020
Interestingly, nearly half of the respondents (46 percent) are currently only using 1 or 2 of these strategies , potentially leaving them more exposed to attack vectors such as identity theft, account takeovers, cyberattacks. Account takeovers were ranked second, with false accounts and money mules also rated as problems.
PYMNTS
SEPTEMBER 17, 2019
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses.
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