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?

Finance

Clearly Payments

DECEMBER 19, 2024

Mobile Wallets Account for a Massive 30% of Global Transactions Mobile wallets like Apple Pay, Google Pay, and Samsung Pay have become household names. In 2024, theyre expected to account for nearly a third of all global transactions. Common types include card-not-present fraud, phishing attacks, and identity theft.

BNPL

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.

Deepfake

Fi911

JUNE 20, 2025

Synthetic identity fraud represents the fastest-growing financial crime in the United States, yet many financial institutions still struggle to detect it. Unlike traditional identity theft where criminals steal existing identities, synthetic identity fraud involves creating new identities by combining real and fabricated information.

Identity Theft

Finovate

JANUARY 9, 2025

Among the new tools are all-in-one bill pay, real-time bank balance insights, credit score protection, $1 million in identity theft protection, and utility usage tracking. doxo offers its standard benefits for free, including the ability to pay any bill for free with a linked bank account. per month. .”

Facilitators

Stax

JANUARY 28, 2025

Simplicityhassle-free one-time passcode Another major advantage for customers is that they no longer need to remember account numbers or passwords to make online payments. Once the issuing bank gives the go-ahead, the payment services provider will facilitate the transfer of funds from the customers account to a merchant account.

Payment APIs and Integration

Fintech News

JUNE 11, 2025

The Rise of Frankenstein Fraud Is Turning Fiction Into Reality This wave of attacks is being powered by a sinister trend called synthetic identity fraud, dubbed “ Frankenstein Fraud ” by iProov. Now, imagine giving that identity a lifelike face, voice, and movement using generative AI and deepfake tech. In the U.S.,

Crime

The Payments Association

JUNE 11, 2025

Shaun Lavelle Group chief risk officer, Trust Payments Scaling paradox North America accounts for 42% of global e-commerce fraud by value, followed by Europe at 26%. Current fraud landscape Card-not-present (CNP) fraud, predominantly from e-commerce, dominates the UK threat landscape, accounting for 81% of all UK card fraud , with 2.21

Risk

Fintech News

FEBRUARY 5, 2025

Additionally, it enhances fraud prevention by identifying data inconsistencies, helping to reduce identity theft and fraudulent account creation. The system delivers quick and accurate results, instantly generating clear and actionable verification outcomes.

Verification

Finextra

JUNE 26, 2025

This structural difference makes Card-Not-Present (CNP) fraud a dominant concern, accounting for a substantial portion of all card fraud, exemplified by its 85.3% These threats include: Online payment fraud The use of stolen cards by fraudsters: A fraudster takes control of a credit or debit card account to make unauthorized transactions.

Stablecoins

The Fintech Times

JULY 25, 2025

Two firms were also found to be registered to PO boxes, a practice discouraged under ECCTA as it can obscure corporate accountability. The findings further revealed that 16 per cent of the financial firms analysed had overdue confirmation statements, while a further six per cent had failed to file accounts on time.

Due Diligence

The Fintech Times

JULY 22, 2025

Specialising in high-risk industries such as crypto, offshore banking, gambling and more, Capitalixe is delivering financial solutions like banking solutions, crypto-friendly bank accounts, cross-border payments and mass-payouts, to name a few, to corporate and institutional clients across the globe. But with great innovation comes real risk.

Risk

Finextra

JUNE 26, 2025

This structural difference makes Card-Not-Present (CNP) fraud a dominant concern, accounting for a substantial portion of all card fraud, exemplified by its 85.3% These threats include: Online payment fraud The use of stolen cards by fraudsters: A fraudster takes control of a credit or debit card account to make unauthorized transactions.

Stablecoins

Finovate

JANUARY 24, 2025

Under DORA, similar service interruptions will be met with stricter oversight and accountability, driving firms to prioritize digital resilience. It increases the risk of data breaches, identity theft, and payment fraud.

Regulations

Finextra

JULY 16, 2025

For instance, holding up a suspicious email for further inspection, or freezing the account for a brief cooling-off period after several successive failed login attempts. Strategic friction involves adding micro-delays, reminders, or escalations just where behavioral signals of risk are indicated.

Security

Fintech News

MAY 20, 2024

Identity theft remains a prominent worry, with 25% of respondents citing it as their top financial crime concern. While 36% of Singaporeans believe they are unlikely to fall victim to identity theft, only 15% consider it a possibility, and 17% are confident their identity has not been compromised.

Identity Theft

PYMNTS

FEBRUARY 28, 2019

Equifax CEO Mark Begor revealed that he has been the victim of identity theft three times in the past 10 years during a privacy hearing on Tuesday (February 26). consumer accounts were accessed by the hackers, as well as certain dispute documents with personal identifying information for approximately 182,000 U.S.

Identity Theft

PYMNTS

DECEMBER 4, 2018

The Federal Trade Commission announced Tuesday (December 4) it is seeking comment on whether the agency should make changes to rules requiring financial institutions and creditors to take certain steps to detect signs of identity theft affecting their customers. The deadline for submitting comments is February 11, 2019.

Identity Theft

PYMNTS

MAY 21, 2020

Active-duty service members are 76 percent more likely to report identity theft than most people, according to data from the Federal Trade Commission (FTC). They’re 22 percent more likely to report misused data to open new accounts, particularly from credit cards. The correlation isn’t random. percent of the 3.2

Identity Theft

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?

Identity Theft

VISTA InfoSec

FEBRUARY 25, 2024

User Account Details Usernames, passwords, security questions, login timestamps, failed login attempt logs, password reset tokens, multifactor authentication details, and session IDs. For customers exposed to breaches, identity theft risks skyrocket, leading to bank/credit card fraud plus medical/tax/employment fraud.

Data Breach

PYMNTS

JANUARY 11, 2021

A California man has sued Robinhood Financial and Robinhood Securities, claiming he lost thousands of dollars after his brokerage account with the firm was breeched, according to a complaint. In October, Robinhood reported hackers had obtained some customers' account information.

Accounts

Payments Source

NOVEMBER 4, 2018

Synthetic fraud brings the pain from many angles — a fluid mix of fake credentials and phony accounts that can overwhelm traditional identity theft tools.

Identity Theft

PYMNTS

JUNE 22, 2020

The company said associates with active cards will be given credit and identity theft monitoring services, courtesy of privacy technology company ID Experts. She added that the company is continuing to monitor the account, but it has not detected any increase in fraud for the accounts.

Identity Theft

VISTA InfoSec

MAY 12, 2024

According to the Identity Theft Resource Center’s (ITRC) 2023 Business Impact Report , 73% of small business owners in the US reported a cyber-attack within the previous year, underlining the growing popularity of small businesses as a target among malicious actors.

PCI DSS

The Fintech Times

APRIL 22, 2024

One in four individuals have experienced digital wallet theft and one in five face unauthorised access to personal bank accounts via mobile apps. In 62 per cent of smartphone theft cases, businesses face severe financial and cybersecurity risks.

Identity Theft

Fintech Finance

AUGUST 28, 2024

However, this increase in digital payments also brings about heightened risks – almost one in five consumers surveyed has fallen prey to online identity theft. report falling victim to online identity theft, with two in five reporting that an incident resulted in accounts being opened in their name.

Identity Theft

Fintech News

JULY 16, 2024

Many consumers are opting for in-person applications for mortgages and loans due to cumbersome digital experiences when opening an account via mobile app or website. Nearly two in three (63%) consumers expect to answer ten questions or less when applying for a personal bank account, or they will abandon the application.

Identity Theft

PYMNTS

JANUARY 2, 2019

The hackers stole usernames and passwords and tried to access accounts. The identity theft firm 4iQ did a study last year about password use and found that almost half of the study respondents reused their passwords over multiple sites. Warby Parker contacted law enforcement when it found out about the breach.

Cybersecurity

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. This will also freeze all of the accounts associated with your identity.

Identity Theft

Fi911

AUGUST 15, 2023

Firstly, people can construct artificial email accounts and employ a range of AI-driven techniques and resources to not only extract data but also generate partial and fabricated identity characteristics,” she explained. Accounts should be diligently monitored through artificial intelligence. appeared first on fi911blog.

Identity Theft

PYMNTS

OCTOBER 25, 2016

LifeLock, the identity theft protection company, launched Monday (Oct. According to a report , the new mobile app, dubbed Identity, aims to give consumers one place where they can view all of their online accounts of different credit cards and update those accounts when there is new information, such as a new address or phone number.

Credit Cards

PYMNTS

NOVEMBER 6, 2018

customers had their accounts hacked in October. Reuters , citing a regulatory filing, reported that HSBC said it’s not clear how many accounts were compromised or if any money was stolen from them. When the scammers went to withdraw the money, the teller was apparently amazed that the bank account had $500 million.

Accounts

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. This reduces the success rate of fraudsters asking for money to be transferred to their own accounts by claiming to be somebody else.

Blocks

Segpay

NOVEMBER 26, 2024

As we move our personal, financial, and governmental interactions to digital platforms, the need for reliable and efficient digital identity verification processes has become critical. Without proper ID verification, criminals can create fake accounts, steal personal information, and rob consumers.

Verification

PYMNTS

APRIL 9, 2019

The report noted users who had been hit with malware or installed a bad browser extension had their account passwords and browser details copied and then sent to the operators of the marketplace. Operators of the marketplace sell the data to cybercriminals who use it for identity theft, online fraud, and other crimes.

Identity Theft

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. Data from Visa suggests that friendly fraud could account for as many as 75% of all disputes.

AI