PYMNTS

JANUARY 21, 2021

According to the FTC, Americans issued over 200,000 complaints and lost more than $145 million in COVID-related scams alone. Particularly stunning this year was the volume of business email compromise (BEC) attacks, which, according to the FBI, is already a $2 billion-a-year business.

Email Compromise 72

Email Compromise Business Email Compromise FBI FTC 72

PYMNTS

NOVEMBER 8, 2019

Fraudsters are wily, striving to stay one step ahead of authentication protocols and other efforts to stop bad actors from compromising consumers’ accounts. Data: 1.4M: Number of fraud reports the FTC received in 2018. It’s no easy task, as the recent Fraud Decisioning Playbook shows.

Account Takeovers 40

Account Takeovers FTC Compromise Authentication 40

PYMNTS

OCTOBER 30, 2017

According to John Krebs, manager of the identity theft program at the Federal Trade Commission (FTC), the situation between the good guys who are trying to protect the systems and the bad guys who are trying to break into and exploit them will always be very asymmetrical. They just moved online, and started looking for easy-to-open windows.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

Finextra

JUNE 26, 2025

The Federal Trade Commission (FTC) alone documented nearly 266,000 cases of online shopping and negative review scams in 2023. Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials.

Stablecoins 52

Stablecoins Payment APIs and Integration Fraud Prevention Cross-Border 52

PYMNTS

SEPTEMBER 18, 2017

And, in the case of Equifax, they make that consumer data vulnerable to compromise — an egregious lapse in security for a company that is, above all, an information and data repository. After all, The Big Three were regulated by the CFPB and the FTC, and look where that got us. We don’t need more regulation.

Regulations 81

Regulations CFPB Database Consumer Financial Protection Bureau (CFPB) 81

PYMNTS

JULY 14, 2017

In four words, the Federal Trade Commission (FTC) — which about a month ago gave its official thumbs down to the merger on antitrust grounds. The FTC complained that because DraftKings and FanDuel are each other’s largest competitors, their merger would create a single firm that “controls more than 90 percent of the U.S.

FTC 40

FTC Federal Trade Commission CFPB Legal 40

PYMNTS

JUNE 20, 2018

This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. Department of Justice said it had arrested 74 individuals who allegedly committed fraud via business email compromise scams. Business scams are nothing new.

Scams 45

Scams Phishing Federal Trade Commission Wires 45

Finextra

JUNE 26, 2025

The Federal Trade Commission (FTC) alone documented nearly 266,000 cases of online shopping and negative review scams in 2023. Account takeover attacks Account takeover attempts by criminals: Account takeover (ATO) attempts involve criminals gaining unauthorized access to online accounts, often through stolen or compromised credentials.

Stablecoins 52

Stablecoins Payment APIs and Integration Cross-Border Account Takeovers 52

FICO

JANUARY 19, 2022

This includes phishing of personal and account-level information as well as compromising the PAN / CVV for use in a fast-following fraud attack. Federal Trade Commission (FTC) is an important resource, taking in reports from consumers about problems they experience in the marketplace. billion in 2019, according to Javelin Research.

Financial Crimes 52

Financial Crimes Crime Money Laundering NFTs 52

FICO

NOVEMBER 30, 2022

Another colleague of mine, TJ Horan, recently wrote a post about the growth of scams and the potential for regulation and noted that: Data from the FTC shows that to date in 2022, consumers report losing $703 million from bank transfers and payments, $90.6 million from debit card payments, and $82.2 million from payments apps and services.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

Center for Payments

NOVEMBER 21, 2023

The FBI reports, “…victims end up paying for an item, while also giving away personal information and credit card details, then receive nothing in return except a compromised or stolen identity.” The Federal Trade Commission (FTC) offers tips to follow before making a financial donation to a charity this year.

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40

FICO

APRIL 20, 2023

environment is not faring any better; according to the US Federal Trade Commission (FTC) , US consumers lost at least $8.8 In 2022, UK Finance reported that nearly 41% of fraud losses were due to APP fraud, where individuals are conned into sending funds via RTP to criminals. billion in scams in 2022, a 30% increase over 2021.

Real Time Payments 52

Real Time Payments Scams RTP Payments 52

PYMNTS

JUNE 27, 2019

After that wave of complaints about gauging, the Federal Trade Commission (FTC) began warning hotels and online booking sites against opacity in pricing — so the problem was rectified to the extent that most online booking platform at this point list both the base price and the total price with fees.

Federal Trade Commission 44

Federal Trade Commission FTC Compromise Consumer 44

PYMNTS

DECEMBER 11, 2017

The move comes just weeks after the revelation that ride-sharing service Uber hid a breach that compromised the data from 57 million of its customers, and that they paid hackers to destroy the stolen information. It also follows the news that credit monitoring firm Equifax hid a massive breach of consumer data for nearly 45 days.

Bitcoin 44

Bitcoin Breach Data Breach FDIC 44

PYMNTS

APRIL 30, 2018

Additional steps must be taken to ensure that business-related data is not compromised. In addition to Zuckerberg’s grilling on Capitol Hill , the Federal Trade Commission (FTC) also recently launched an investigation into Facebook. The Need for Greater GDPR Compliance.

Rules 47

Rules Authentication Breach Compliance 47

PYMNTS

FEBRUARY 14, 2020

The Cost of Love: Broken hearts club: Consumers report losing more than $200 million to romance scams last year, as estimated by the FTC. B2B Targeted: The FBI reports that Business email compromise (BEC) scams are on the rise. That’s up 40 percent over 2018. has broadened to examine acquisitions.

Business Email Compromise 52

Business Email Compromise Cross-Border Romance Scams FTC 52

PYMNTS

NOVEMBER 6, 2017

In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. Biometrics May Not Be the Panacea.

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43