Fintech News

SEPTEMBER 22, 2024

In 2023, the financial services industry continued to sustain the most automated bot attacks, with 1.8 the number of bot attacks in the sector decreased by 6% YoY. Automated bot attacks remained stable in 2023 compared with the previous year, though the targets shifted. Despite this high volume.

Accounts 143

Accounts Scams Bots Account Takeovers 143

PYMNTS

DECEMBER 20, 2019

Diachenko said he thinks the breach is because of an illegal bot scraping operation or even criminals who figured out how to abuse Facebook’s API. The originators of the database are suspected to be in Vietnam. With the information, criminals could potentially launch a large-scale phishing campaign, either by SMS or other means.

Database 71

Database Phishing Bots Breach 71

Stax

MARCH 4, 2024

Tokenization , on the other hand, replaces the sensitive data with a string of meaningless characters, with the original data stored in a “token vault”. Innovations in social engineering scams, sometimes conducted through social media, and phishing emails are designed to get the user to divulge sensitive information.

PCI DSS 88

PCI DSS Payment Security Security MFA 88

PYMNTS

DECEMBER 19, 2019

In the third quarter of 2019 alone, mass “bot” attacks on FIs and card accounts rose by 70 percent year on year, indicating that fraud is getting, well, faster. The stakes are high, and tech is the weapon of choice in fraudsters’ ploys to gain access to sensitive data and drain accounts as they seek to exploit consumers’ trust in their CUs.

Credit Union 53

Credit Union Compromise Credential Bots 53

FICO

MAY 27, 2022

Evolving technology (bots, cloud infrastructure and virtual machines) has enabled criminals to submit fraudulent applications at scale to different organizations. . It remains one of the top three fraud attacks, alongside phishing and card testing. Data valuable to a fraud decision is siloed in an originations system and vice versa.

Identity Theft 52

Identity Theft Origination Use Case Checks 52

PYMNTS

JULY 21, 2020

Fraudsters also want to steal details like the names of consumers and their banks because including such information in phishing texts and emails lends an air of legitimacy to their masquerade, making it harder for consumers to detect the scheme. One recent example of this saw scammers alerting users about potentially fraudulent transactions.

P2P 60

P2P Scams Security Account Takeovers 60

FICO

JANUARY 19, 2022

movement of money) using trade transactions to legitimize their illicit origins. TBML involves the exploitation of the international trade system for the purpose of transferring value and obscuring the true origins of illicit wealth. Phishing attacks are on the rise during the pandemic. Fake webpage for Royal Mail.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52