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Credit Card Fraud in Canada: Latest 2024 Statistics, Trends & Prevention Tips

Clearly Payments

Majority of Canadian card fraud losses Phishing, Smishing & Vishing Email, text, or phone scams trick victims into revealing card data. While Canada has strong chip-and-PIN adoption and advanced fraud detection systems, it still experiences higher card-not-present fraud compared to nations with more widespread biometric authentication.

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6 Types of COVID-19 Scams to Watch Out For

FICO

Smishing is similar to phishing, but is executed through text messages. Use a different password for each account and enable multi-factor authentication where available. Many accounts now offer the ability to set up multiple steps in authenticating that the person logging in is who they say they are. every month.

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How Fraudsters Create New Schemes With Social Engineering

PYMNTS

Vishing” and “smishing” are two phishing variants that have become more popular as QSR employees and consumers grow wise to the suspicious emails associated with phishing. These schemes rely on other means of communication: telephone calls for vishing and text messages for smishing. The best defense systems use a combination of both.

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US Card Skimming Grew Nearly 5x in 2022, New FICO Data Shows

FICO

While skimming events can impact hundreds of unknowing individuals, criminals will also continue to target consumers through phishing, smishing, scams, and other tactics to obtain cardholder data that can be used for card-not-present fraud. Banks should deploy fraud checks prior to authorizing any purchase or payment transaction.

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Know About Phishing Attacks & Safeguard Your Crypto Assets on Coinremitter

CoinRemitter

Below are the most common types of cyber phishing you should be aware of: – Email phishing – Smishing and Vishing – Clone phishing – Pharming – HTTPS phishing Email Phishing This is the most popular as well as the most common medium of cyber phishing.

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How Machine Learning Fights “Hypnofraud”

FICO

Phishing, Smishing, Hypnofraud and More. Fraudsters use a range of tactics to commit social engineering; email (phishing) and text message (smishing) are time-tested winners. The good news is that while social engineering fraud is on the rise, FICO is using advanced machine learning techniques to effectively combat SEF.