Fintech Finance

MARCH 3, 2025

Built-in fraud protection prevents e-wallet account takeover risks. Antom Shield: Advanced AI for risk mitigation and fraud prevention Antom Shield is an intelligent risk solution that strengthens fraud detection while helping merchants boost order conversion rates and drive growth.

Fraud Prevention

Finextra

JUNE 26, 2025

Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials.

Stablecoins

Finextra

JUNE 26, 2025

Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials.

Stablecoins

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

APRIL 7, 2020

“We cannot outright predict a pandemic any more than we can predict a data breach or an account takeover,” DataVisor CEO and Co-Founder Yinglian Xie recently told PYMNTS. What we can do, however, is empower organizations to proactively spot burgeoning crises early and take decisive action before extensive damage occurs.”

Account Takeovers

The Payments Association

JANUARY 17, 2025

With so much data at our disposal – our AI-powered engines and fraud teams mitigate thousands of attempts to infiltrate our customers systems daily – there are numerous narratives to discuss here. Account takeover cases increased by 13% compared to 2023, and multi-accounting saw a 10% year-on-year increase.

Account Takeovers

Seon

JUNE 24, 2024

Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity. Credit card fraud accounted for 34% of these statistics, indicating fraud’s pervasive and industry-agnostic nature.

Risk Management

PYMNTS

JULY 2, 2020

Account takeover fraud, phishing scams and friendly fraud have all seen upticks of late. With the right technology partner, merchants have the ability to really mitigate these types of risks. He added that fraudsters have been showing up across the board in terms of fraud types attempted.

Transactions

PYMNTS

SEPTEMBER 29, 2017

There may be no silver bullets, but there are mitigations to the situation. Account takeover and the creation of false accounts, Webster and Brown agreed, will be the massive twin issue that financial services players will have to address rather quickly. “I Not quite, Brown said. Protecting Data in the Post-Breach Era.

Account Takeovers

Fi911

JULY 8, 2024

Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. Small businesses, in particular, are vulnerable as they may lack the advanced security infrastructure of larger corporations.

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. This can help prevent unauthorized transfers or purchases, especially in the case of account takeovers.

Account Takeovers

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. Giving customers confidence that a financial institution is using the best processes to mitigate against these threats is, therefore, critical.

Consumer

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

FICO

FEBRUARY 19, 2020

Account Takeover Fraud. The ability to move money out of accounts instantly makes account takeover fraud more attractive to fraudsters. Meanwhile, constant data breaches mean that fraudsters have access to account details that they can simply buy on the dark web. by Doug Clare.

Real Time Payments

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. billion by 2025, reaching a total of US$8.83 billion.

BNPL

PYMNTS

NOVEMBER 17, 2020

For merchants focused on sustainable growth, successfully mitigating fraud becomes increasingly important, and ever more so during the holiday season,” Rahul Pangam , co-founder and CEO of Simility, told PYMNTS. During this hectic time of year, merchants are particularly vulnerable to promotion abuse, account takeover and transaction fraud.

Volume

Fintech Finance

MAY 22, 2024

A key component of this growth in attacks was fraudsters’ focus on account takeover of ecommerce accounts, with the attack rate at login reaching 3.3% (an increase of 119% YOY). The volume of human-initiated attacks surged 80% YOY, resulting in an attack rate of 2.8% (up by 59% YOY).

Account Takeovers

Fintech News

JUNE 6, 2024

This underscores the need for more robust, multi-layered identity verification solutions that can effectively mitigate the risks of these evolving fraud tactics,” said Frederic. A notable example is the recent US$25 million scam in Hong Kong, where scammers used deepfake technology to impersonate company executives in a video call.

Scams

PYMNTS

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. What’s more, Fiserv said that account takeover losses in the U.S. They use a five-digit code via text or email that is valid only during the call.

Consumer Authentication

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Pre-Payment Security : Device fingerprinting, biometric authentication, and real-time monitoring to prevent identity fraud and account takeover.

Instant Payments

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.

Account Takeovers

PYMNTS

OCTOBER 3, 2019

In response, FIs are prioritizing credit assessment, underwriting and borrower verification processes, and finding that technology can be instrumental in bolstering their fraud mitigation strategies. Technology’s Role.

Small Business

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.

Risk

The Fintech Times

FEBRUARY 26, 2024

Customer experience : They excel at streamlined, connected journeys, leaving clunky interfaces in the dust.

API

Fintech Finance

AUGUST 19, 2024

Unit21 , a global risk and compliance leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, today announced a new bundle of features for Automated Clearing House (ACH) transactions.

ACH

PYMNTS

FEBRUARY 26, 2020

Their research found that nearly half of surveyed restaurants’ online and mobile ordering solutions require only usernames and passwords to log in — a known security weakness given that customers often use the same passwords for multiple accounts. Mexican QSR Chipotle is another mobile order-ahead player leveraging AI for security.

Credential

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

PYMNTS

MAY 8, 2020

Capturing The New Opportunity While Mitigating The Risk . 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

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.

Credential

PYMNTS

OCTOBER 29, 2018

If those attacks are successful, cybercriminals would acquire unauthorized customer data that could possibly be used in an account takeover (ATO) or another form of cyberattack. The risk of attack can be mitigated by following a sound API architectural approach, one that integrates security requirements and tools into the API itself.

Security

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.

Real Time Payments

PYMNTS

MARCH 27, 2020

The firm safeguards businesses to mitigate the risk of online fraud for themselves and their customers, combatting attacks including account takeovers, scraping, gift card fraud, spam and more. Landing the largest funding round of the week is Plastiq , a U.S.

FinTech

Fintech Finance

FEBRUARY 29, 2024

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. Socure’s predictive machine learning models coupled with Trustly’s Open Banking authentication and data mitigate these emerging risks.

Fraud Prevention

Clearly Payments

JULY 16, 2024

To mitigate these risks, retailers can implement robust authentication measures, invest in secure payment gateways , and educate customers about secure online shopping practices. According to the Association of Certified Fraud Examiners (ACFE) , financial institutions account for 16.8% of all reported fraud cases. billion in losses.

Risk

The Fintech Times

JUNE 20, 2024

So what can firms do to better mitigate this risk? From ransomware attacks and phishing schemes, to account takeovers and distributed denial of service (DDoS) attacks, all these threats can result in serious operational disruptions and loss of customer trust, incurring costly remediation.

Risk

PYMNTS

OCTOBER 28, 2019

Having up-to-date records on your customer population is one of the best ways to mitigate fraud and streamline compliance,” said David Barnhardt, CEO of GIACT. The solution aims to help businesses revamp their identity management process, temper account seizes, make KYC compliance easier and lower false negatives.

Automation

PYMNTS

MAY 7, 2018

FIs are kept on their toes to mitigate this risk. In a survey of financial institutions facilitating Same-Day ACH for their customers – which collectively account for about 66 percent of ACH origination volumes – NACHA found that exactly zero percent reported an increase in fraud. With Same-Day ACH now a reality in the U.S.,

Same Day ACH