VISTA InfoSec

AUGUST 22, 2023

Altering or replacing compromised biometric traits is complex. Unauthorized Access and Misuse: Insufficient protection of biometric data exposes it to unauthorized access and misuse, potentially resulting in identity theft or fraud. Regularly review guidance provided by data protection authorities to ensure compliance.

Privacy 130

Privacy Legal Compliance Best Practices 130

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Social Engineering Social engineering is a manipulation technique used by criminals to deceive individuals into revealing confidential information or performing actions that compromise security.

Account Takeovers 105

Account Takeovers Fraud Detection Phishing Fraud Prevention 105

PYMNTS

APRIL 7, 2017

And as the financial services market gets more comfortable with the idea, regulatory bodies like the Consumer Financial Protection Bureau (CFPB) are similarly looking to gently guide the space by issuing best practices. There was a 31 percent increase in compromised data records in the first half of 2016 alone, the report found.

Consumer Financial Protection Bureau (CFPB) 76

Consumer Financial Protection Bureau (CFPB) Technology CFPB API 76

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

FICO

FEBRUARY 28, 2018

Instead of coding up and alerting on known patterns of how fraud operates, machine learning analytics are sensitive to the complex, multi-variate attributes that predict fraud – whether it’s payments fraud, application fraud, account takeover, mass card compromise, or more. Best Practices in Establishing Your Fraud Risk Appetite.

AI 69

AI Best Practices Identity Theft Account Takeovers 69

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. Chargeback Management Best Practices Chargebacks pose a significant challenge for merchants, impacting both financial stability and reputation. Chargebacks are generally the biggest concern that most merchants have.

Risk Management 97

Risk Management Risk PCI DSS Process 97

Clearly Payments

MARCH 22, 2024

This means that even if a transaction is compromised, the actual card details remain secure. 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.

Contactless Payments 105

Contactless Payments Online and Mobile Banking Mobile Payments Payments 105

Seon

JUNE 27, 2024

As AI-driven progress continues to surge, questions arise about maintaining its progress over the long term without compromising security. Find Out More The use of AI in fraud is not limited to the digital space; it extends to financial crimes, money laundering, identity theft and other illicit activities.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

FICO

DECEMBER 13, 2022

Our survey data shows, that even a little too much friction in the process, especially relating to identity checks, dissuades many customers from completing an originations process. However, this aversion to badly thought-out identity checks extends to use of existing accounts. Customers Prefer Biometric Security.

Security 52

Security Account Takeovers Authentication Payee 52

FICO

APRIL 26, 2023

Logic and best practices suggest the more a bank can communicate the dangers of scams and how to avoid them, the less likely customers will be to fall for scams in which they otherwise participate willfully, if unwittingly. Debbie holds a B.A. from UCLA and an MBA from the Merage School of Business at University of California, Irvine.

Scams 52

Scams RTP Push-to-Card Fraud Detection 52

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Compromised Employees: Internal employees willingly or unwittingly collude with external fraudsters to execute payment fraud schemes, leveraging their knowledge and access to circumvent controls.

Fraud Detection 52

Fraud Detection Payments Audit Fraud Prevention 52

Seon

JUNE 21, 2023

If one of these accounts gets hacked, it can lead to more accounts being compromised, particularly if your security settings are low and you aren’t using a variety of username/password combinations. On top of the above, there are of course further best practices, such as using password security apps like password managers.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

PYMNTS

JUNE 21, 2019

Finally, in Texas, the Better Business Bureau (BBB) is warning small businesses (SMBs) of the latest twist on the Business Email Compromise (BEC) scam: fraudulent requests for proposals with PDF attachments infected by malware. Canada’s Crypto Case. Tax time in particular is like Christmas to cybercriminals,” he said.

Governance 43

Governance Government Scams Ransomware 43