PYMNTS

MAY 14, 2020

The COVID-19 pandemic has triggered an uptick in digital fraud and identity theft, with 18,235 pandemic-related fraud reports received by the Federal Trade Commission (FTC) since the beginning of the year. Technology firms worldwide are working to meet the growing demand for reliable, remote and digital ID verification.

Identity Theft 98

Identity Theft AI Federal Trade Commission Verification 98

PYMNTS

OCTOBER 9, 2020

state employment programs to phishing scams with bad actors claiming to represent retailers — such as luxury brand Vince Camuto in one recent email scam — to good old-fashioned identity theft. Email and the Verification Divide. The Future of Email Verification. These schemes range from tailored attacks against U.S.

Verification 83

Verification Consumer Online and Mobile Banking Scams 83

PYMNTS

OCTOBER 7, 2020

These bad actors are tapping everything from tried and true phishing schemes to tailored identity theft to scrape data from these digital sites, and not properly protecting against these efforts can lead to significant strain. Warding against this by leveraging authentication tools is thus proving to be essential during the pandemic.

Verification 89

Verification Identity Theft Online and Mobile Banking Authentication 89

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? It’s worth nothing, the US Postal Service has since improved ID Verification and authentication fraud controls to stem the tide of abuse with great success.

Identity Theft 40

Identity Theft Credit Cards Data Breach Account Takeovers 40

Stax

JANUARY 28, 2025

Click to Pay is based upon global EMV Secure Remote Commerce (SRC) standards, which include security measures like tokenization , multi-factor authentication , and 3D Secure protocols. Once the customer does this, a one-time password (OTP) will be sent to the customers registered phone number or email address to verify their identity.

Payment APIs and Integration 68

Payment APIs and Integration Online and Mobile Banking Payment Gateways Gateways 68

PYMNTS

AUGUST 5, 2020

Guarding against this method of fraud must therefore represent a top priority for such companies, especially because fraudsters are also using these bots to data scrape personal and financial information from these servers that can be used for identity theft at a later date.

Bots 111

Bots Authentication Identity Theft Void 111

PYMNTS

OCTOBER 8, 2018

With the lessening of face-to-face commerce, done live and in person, the onus is on merchants to authenticate customers at the front end — before the transaction is underway. For Onfido, which verifies individual identities as people wield photo-based ID documents, tackling fraud is a matter of making sure identity documents are genuine.

Identity Theft 71

Identity Theft Verification Database Authentication 71

PYMNTS

SEPTEMBER 13, 2018

As many as 71 percent of financial consumers reported being satisfied with an authentication method if it was easy to use, while 62 percent like authentication methods that are convenient. In comparison, only 45 percent said they would prefer an authentication method due to its tight data security.

Security 59

Security Identity Theft Authentication Breach 59

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake 125

Deepfake APACS Scams Authentication 125

PYMNTS

APRIL 6, 2017

By solving the identity problem and centering the ecosystem around the individual and not the enterprise, Hall said it can create silos of people being in charge of their own data and authenticating themselves in a trusted way. When people use “multi-factor authentication,” it can often mean different things.

Authentication 48

Authentication Verification Credential Identity Theft 48

Fintech Review

JANUARY 21, 2025

Securing Digital Identities Digital identity verification is a cornerstone of fintech services. These technologies ensure that users are who they claim to be, reducing the risk of identity theft. AI enhances this process by employing biometrics, facial recognition, and behavioural analysis.

Cybersecurity 103

Cybersecurity FinTech Identity Theft AI 103

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.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

PYMNTS

FEBRUARY 19, 2019

What’s more, fraudsters are getting smarter, building out identities and initiating money transactions that are made to appear as legitimate as possible before making their move. With fraudsters getting bolder, banks, retailers and consumers are recognizing that stronger verification is now a necessity. Around the Digital Fraud World.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

Segpay

DECEMBER 13, 2024

The Intersection of Data Privacy and Identity Management Source: ID Management Institute Identity management helps authenticate users and makes sure that only authorized individuals can access certain information. In identity management, this means gathering only what is strictly needed for authentication.

Privacy 105

Privacy Compliance CCPA Authentication 105

The Payments Association

JUNE 11, 2025

Key changes could include embedding platform-wide risk analytics, adopting real-time authentication, aligning their fraud strategies along business goals, and embracing transparency through AI. To keep up, organisations need to move away from simple, KYC-focused verification and towards a proactive, multi-layered approach."

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Segpay

FEBRUARY 21, 2024

Biometric Authentication: Integrating generative AI in digital payments extends to biometric authentication methods, such as facial recognition and fingerprint scanning. Biometric authentication not only enhances security but also simplifies the user experience.

AI 105

AI Innovation Fraud Detection Encryption 105

Finovate

OCTOBER 24, 2024

Socure has acquired risk decisioning company Effectiv for $136 million Socure will integrate Effectiv’s AI-powered orchestration platform into its digital identity verification and fraud solutions. Digital identity verification company Socure has acquired risk decisioning company Effectiv in a $136 million deal.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

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

AUGUST 20, 2019

Despite their popularity, platforms use weak identity verification and authentication techniques to sign on new users and login returning ones, which puts consumers data and digital identity at risk. Figure 1: Consumers’ satisfaction with select verification or authentication methods. In fact, 76.4

Economy 64

Economy Consumer Authentication Verification 64

PYMNTS

SEPTEMBER 6, 2019

This was a specific incident not related to verification and authorization in general. Verifying Digital Identity In The Sharing Economy , PYMNTS examines how consumers use sharing economy platforms in their everyday lives and how those platforms are taking measures to defend against digital fraud and identity theft.

Authentication 50

Authentication Economy Security Identity Theft 50

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.

Account Takeovers 105

Account Takeovers MFA Fraud Detection Credit Cards 105

PYMNTS

JUNE 11, 2020

The technology itself is not new — many consumers already use biometric authentication in their daily lives, with 80 percent of consumers using their fingerprints to unlock their smartphones, for example. million to expand its facial recognition and ID documentation verification services internationally. Washington, D.C.-based

AML 74

AML Legal Compliance Verification 74

Fi911

SEPTEMBER 27, 2023

Understanding Liveness Detection Liveness detection is pivotal in biometric authentication systems. It is often referred to as “anti-spoofing” or “liveness verification.” This adds a crucial security layer, ensuring the authentication process interacts with a genuine source. How Does Liveness Detection Work?

Security 52

Security Identity Theft Verification Authentication 52

PYMNTS

OCTOBER 26, 2016

I can’t tell my mom to go get a new maiden name,” Tinsley pointed out, emphasizing that, once that piece of authentication is compromised, there’s no going back. One piece of this more holistic picture is consumer presence as a factor of authentication, using biometrics, such as fingerprint, eyeball scan, etc., Going Beyond PCI.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

AUGUST 7, 2019

At this point in 2019, we’ve all dealt with some flavor of two-factor authentication that uses SMS one-time passcodes. It is perhaps easy to beat up on SMS-based authentication for how relatively easy it is to overcome — but it is perhaps a bit unreasonable to expect it to act as an authentication method.

Authentication 44

Authentication Consumer Authentication Consumer Ubiquitous 44

PYMNTS

JANUARY 16, 2020

Trade finance and supply chain digitalization company Tradeshift has partnered with fraud protection solutions firm SiS to ward against this, developing a solution that uses blockchain technology for more robust identity verification. Experimentation with biometrics and other behavioral analysis tools is also advancing.

AI 53

AI Identity Theft Authentication Account Takeovers 53

PYMNTS

JUNE 22, 2020

The approach is different from those that may already be utilized by FIs to address application fraud, applying techniques such as biometrics and various other stepped-up levels of authentication. Such authentication is crucial in streamlining the decisioning process and advancing “good” applications while reducing false positives.

Identity Theft 77

Identity Theft Database Account Takeovers Issuers 77

Trade Credit & Liquidity Management

MARCH 27, 2025

an accounts receivable management technology provider, announced the integration of advanced fraud security and applicant verification capabilities into its credit application process. Credit managers can now access a centralized system for fraud prevention and applicant verification.

Identity Theft 40

Identity Theft Fraud Prevention Fraud Detection Verification 40

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. In response, many institutions have deployed layered controls to ensure they are interacting with genuine customers and help stop identity fraud. Identity verification.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Account Takeovers 52

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. Medical Identity Theft: Fraudsters use stolen patient information to obtain medical services, prescriptions, or insurance reimbursements.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

Clearly Payments

MARCH 22, 2024

Biometric authentication, such as fingerprint or facial recognition, is increasingly used to verify the identity of the user, adding a personal layer of security to the transaction process. Integration of Biometric Authentication : Security concerns are paramount in the realm of mobile payments.

Contactless Payments 105

Contactless Payments Online and Mobile Banking Mobile Payments Payments 105

PYMNTS

OCTOBER 13, 2020

The October Digital Identity Tracker ® explores how sellers are adopting biometric-based verification and artificial intelligence (AI) tools to draw in customers and fend off fraudsters. Around The Digital Identity Ecosystem. Public officials intended this initiative to give residents a quick, convenient verification process.

Account Takeovers 69

Account Takeovers Accounts Federal Trade Commission Verification 69

PYMNTS

FEBRUARY 20, 2019

This type of identity theft is growing only more insidious for financial institutions (FIs), particularly in today’s digital world as the assault on stealing identities becomes more rampant. Chu noted that open banking is one way in which banks can protect against these verification lapses.

Checks 50

Checks Identity Theft Verification Breach 50

FICO

AUGUST 6, 2018

The financial impact is significant: Consumers lost more than $16B to identity theft (application and account take-over) in 2016, and annual first-party fraud losses, including synthetic ID fraud, for U.S. They produce APIs and capabilities to validate different aspects of both physical and digital identities. Negative list.

Authentication 49

Authentication Verification Identity Theft ATM 49

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 64

Credential FinTech Deepfake Fraud Detection 64

PYMNTS

JANUARY 20, 2020

Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. Businesses need to properly determine which consumers are legitimate, but some authentication measures fall short. Fraudsters and the Access Problem. The Technology Barrier .

Identity Theft 54

Identity Theft Fraud Prevention AI Scams 54

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. The first step is implementing robust authentication processes, including multi-factor authentication, biometric verification , and tokenization , to enhance user access security.

Risk Management 97

Risk Management Risk PCI DSS Process 97