FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

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Compromise Debit Card Scams Smishing 98

Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack? Reported losses in 2020 exceeded $4.2

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

SEPTEMBER 24, 2019

With billions of compromised credentials exposed online, there is a high likelihood that most users of the U.S. financial system have had some information about themselves … compromised at some point.”. Criminals will get this info through hacking or by social engineering and phishing.

Fincen 71

Fincen Account Takeovers Identity Theft Financial Crimes 71

VISTA InfoSec

JUNE 21, 2023

Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week. You need to know if any data has been compromised and, if so, where it may have been shared.

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Data Breach Breach Law Enforcement Cybersecurity 130

Fintech News

MARCH 25, 2024

This growth suggests that threat actors continued to invest in new methods to target mobile banking apps, developing new tools and techniques to execute fraudulent transactions, steal funds and commit identity theft , the report says. Hook is a type of malicious software specifically designed to target mobile banking apps.

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Mobile Banking Online and Mobile Banking Identity Theft Credential 119

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.

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Deepfake APACS Scams Authentication 125

The Payments Association

JUNE 11, 2025

AI-driven scams leverage sophisticated attacks from phishing emails to deepfake videos and voice impersonations. Account takeover attacks exploit credential stuffing and social engineering techniques, with UK finance recording 34,114 cases of card identity theft in the first half of 2022 alone, leading to gross losses of £21.4

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Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

PYMNTS

MAY 1, 2017

Phishing attacks can happen to even the most vigilant among us. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam.

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Scams Business Email Compromise Email Compromise Identity Theft 47

PYMNTS

JANUARY 24, 2017

According to a report highlighting findings from the Identity Theft Resource Center and CyberScout, data breaches in the U.S. For the eighth year in a row, hacking, skimming, and phishing were the main drivers of data breaches, representing 55.5 Some 64 percent of all data breaches involve identity and personal data theft.

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Data Breach Breach Identity Theft Phishing 40

PYMNTS

MARCH 16, 2017

During a follow-up briefing on Wednesday (March 15), the FBI shared its insight on how Yahoo’s user data and technology was compromised so significantly over a two-year period. According to Palmore, that initial breach eventually led the exposure of more than 500 million user accounts.

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FBI Breach Identity Theft Data Breach 46

Clearly Payments

MARCH 4, 2024

From the Target data breach that compromised millions of customer accounts to the collapse of Wirecard AG following revelations of accounting fraud, these fraud events serve as stark reminders of the vulnerabilities within payment systems. Over 40 million credit and debit card accounts compromised.

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Phishing Data Breach Law Enforcement Money Laundering 59

PYMNTS

JANUARY 30, 2017

The latest report from the Identity Theft Resource Center (ITRC) and CyberScout finds a worrying trend: 2016 was a record year for data breaches, with businesses emerging as the largest target for hackers by far. This week’s data digest is all about, well, data. 1,093 data breaches hit entities in the U.S.

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Data Security Governance Government Data Breach 54

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. One study on six countries, including Canada, the U.K. These schemes range from tailored attacks against U.S.

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Verification Consumer Online and Mobile Banking Scams 83

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. Known Unknowns.

Identity Theft 69

Identity Theft FTC Account Takeovers Phishing 69

PYMNTS

APRIL 15, 2019

The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. Phishing for Paychecks. HR departments need be on the alert for a new type of phishing scam that asks for reroutes on direct deposit accounts, CNBC reported.

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Money Laundering Wires Wire Identity Theft 51

PYMNTS

JANUARY 27, 2017

As if Yahoo didn’t have enough on its plate, the tech company is now facing a probe from the Securities and Exchange Commission as to whether or not it could have acted more promptly in response to two massive data breaches that left over a billion customers’ information compromised. 2013 had compromised even more user data.

Data Breach 71

Data Breach Breach Security Risk 71

PYMNTS

JUNE 27, 2016

Reuters reported late last week that Peter Locsin, of Talisay City, Philippines, is believed to be behind a cybercrime scheme to compromise the accounts of several well-known individuals at three financial institutions. Attorney for the Central District of California alleges, was behind a phishing scheme between Nov. 2012 and Sept.

Payments Data 40

Payments Data Identity Theft Wire Transfer Compromise 40

PYMNTS

MAY 30, 2018

Baratov has pleaded guilty to conspiracy to commit computer fraud and identity theft in November, noted Bloomberg. To get access to the email accounts, the hacker used spear phishing attacks and fake emails to trick people into providing sensitive information. He was also hit with a $250,000 fine, noted Bloomberg.

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Identity Theft Breach Phishing Scams 44

PYMNTS

JULY 10, 2019

Besides identity theft, malware and viruses, there are phishing scams, data breaches and other unknown issues that can compromise computers and daily life. Privacy is the new currency in a time when browsing the internet can be a lot like walking through a crime-ridden neighborhood.

Privacy 40

Privacy Identity Theft Regulatory Compliance Data Breach 40

Seon

JUNE 27, 2024

As AI-driven progress continues to surge, questions arise about maintaining its progress over the long term without compromising security. AI’s capabilities, like machine learning algorithms, are being trained to identify and exploit vulnerabilities, automate phishing attacks and bypass traditional security measures.

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Cybersecurity Fraud Detection Identity Theft Money Laundering 52

PYMNTS

JANUARY 23, 2017

Its latest analysis, released in conjunction with the Identity Theft Resource Center, found an all-time-high number of data breaches, with 1,093 incidents recorded in 2016. But researchers questioned whether the increase is due to more breaches or simply more publicly available data on the topic.

Risk 43

Risk AFP Identity Theft Email Compromise 43

PYMNTS

MAY 2, 2017

In other news of note from the Facebook space, it recently came to light that the social media giant, along with Google, were the heretofore unnamed victims of a combined $100 million phishing attack earlier this year. At the end of March , the U.S. The corporate victims, now known to be Facebook and Google, weren’t named at the time.

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Business Email Compromise Email Compromise Scams Phishing 43

PYMNTS

MAY 6, 2020

Fraudsters can also carefully hoard a cache of stolen bank account data, credit and debit card information, Social Security numbers and other details to impersonate legitimate customers, using these details outright or cobbling them together to perpetrate identity theft, new account fraud and gain entry to other platforms.

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Fraud Prevention Money Laundering AI Identity Theft 72

Seon

JUNE 21, 2023

Like any online account, virtual credit card accounts, the mobile wallets they are kept in, and even the online bank accounts they may be connected to are vulnerable to account takeover (ATO) fraud , phishing, and more sophisticated attacks, such as man-in-the-middle attacks. How Can Virtual Credit Card Fraud Affect Your Business?

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Credit Cards Risk Online and Mobile Banking Phishing 52

Nanonets

MAY 31, 2023

million individuals in the United States fell victim to identity theft in 2021. Phishing Attacks: Fraudsters send deceptive emails or messages, often mimicking reputable organizations, to trick employees or customers into revealing their payment details. million, with an average of $136 being stolen per phishing attack.

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Fraud Detection Payments Audit Fraud Prevention 52

FICO

MAY 19, 2020

Phishing emails for airfare refunds, charitable contributions, fake cures and vaccines, financial relief, federal emergency funds, and more will proliferate. 5) Top 5 Fraud Manager Considerations During COVID-19: A rise in application fraud and identity theft. Examples include fake emails from CDC, WHO, and FEMA.

Account Takeovers 52

Account Takeovers Identity Theft Scams Online and Mobile Banking 52

PYMNTS

JANUARY 24, 2017

According to a report released earlier this month jointly by CyberScout and the Identity Theft Resource Center, within the United States, the sheer number of data breaches is on the upswing, to the tune of about 40 percent, as the total number of breaches found across the duo’s research came in at 1,093.

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Data Breach Breach Identity Theft Phishing 44