PYMNTS

MARCH 26, 2019

The United States Supreme Court has rejected an appeal by online shoe company Zappos over a data breach in 2012 that compromised the information of 24 million customers, according to a report from Reuters. Originally, a Nevada judge claimed only people who had suffered financial loss were eligible for damages. The 9th U.S.

Identity Theft

PYMNTS

MARCH 12, 2018

district court in San Jose, California, ruled late last week that most of a lawsuit concerning Yahoo’s data breach, which exposed 3 billion users’ personal data, can proceed. Initially, Yahoo only revealed that 1 billion accounts had been compromised. According to news from Reuters , U.S.

Breach

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

FICO

AUGUST 16, 2022

Once a customer has used a compromised card reader, the fraudster can download or wirelessly transfer the card details and the video of the PIN being typed, giving them complete access to the account. One of the most insidious aspects of skimming fraud is that a transaction at a compromised location usually goes through without a hitch.

Compromise

FICO

FEBRUARY 28, 2018

Scores add precision to the broad-brush approach of rules-based detection. In the meanwhile, check out our previous posts on application fraud, including: Trends in Application Fraud – From Identity Theft to First-Party Fraud. Best Practices in Establishing Your Fraud Risk Appetite. ELI5: How Does the Dark Web Work?

AI

FICO

JANUARY 13, 2020

The CFPB will issue its final debt collection rule in the fall of 2020. Forty-two years after the enactment of the Fair Debt Collections Practices Act, the CFPB proposed the first set of rules governing third-party debt collection activities. I predict we will see the final rule during the early portion of the 2020 NFL season.

Authentication

PYMNTS

MARCH 2, 2018

That’s a lot of compromised data, of course. And Equifax has taken steps to stanch some of the bleeding of personal information – you know, the kind for sale on the Dark Web – by forging new pacts focused on identity verification. The latest tally comes to 147.9 million, up 2.4 In plain language: Nobody’s happy but the lawyers.

Breach

FICO

NOVEMBER 30, 2022

First, think about using separate rules and strategies to address the different exposure types. Debbie Cobb is Senior Director of Product Management, serving as the global product leader for FICO’s transactional fraud solutions including FICO Falcon Fraud Manager, FICO Falcon Compromise Manager and Card Alert Service. See all Posts.

Scams

FICO

APRIL 26, 2023

Some legislators and regulators, such in the US and UK , are pushing for rules that would require banks to reimburse scams victims for losses. Who Should Cover the Losses from APP Fraud? Consumer defection and acquisition are costly, as are customers who may maintain but cease to use an account. Debbie holds a B.A.

Scams

Stax

AUGUST 20, 2024

Financial institutions and their partners must have data security standards in place to avoid getting compromised. This helps determine who is responsible for addressing any data privacy concerns and avoiding cyber-attacks and identity theft. It’s also important to define the roles and responsibilities of all parties.

Embedded Finance

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. Other digital payment service users : Fraudsters may also target a cardholder’s mobile wallet app and/or full-service neobank account.

Credit Cards

Stax

JULY 9, 2024

Key regulations governing EFT payments include the National Automated Clearing House Association (NACHA) rules, which establish guidelines for ACH transfers, and the Payment Card Industry Data Security Standard (PCI DSS), which sets security standards for handling card information.

Electronic Fund Transfer Act (EFTA)

VISTA InfoSec

SEPTEMBER 15, 2023

This Act, which supersedes Section 43A of the IT Act, 2000 and the SPDI Rules, 2011, brings about considerable changes to the norms of data protection. The DPDP Act is lean and principle-based, with details around implementation to be set out in future rules. Appoint a data auditor to assess compliance with the Act.

Data Breach

PYMNTS

AUGUST 26, 2019

She also contends that the access was permissioned and not identity theft as Worden alleges in the complaint against her. If you ignore the previous rule, don’t do it from a computer on the space station — because when someone traces the access records to the account, one IP address labeled “NASA” is really going to be a dead giveaway.

Micro-Entry

PYMNTS

NOVEMBER 6, 2017

After all, your very name, address, telephone number, maiden name and so on are all ticking time bombs, putting you at risk for identity theft. If the SSN and all manner of traditional identifiers have been compromised and are floating around the dark web, biometrics is the cure-all. Biometrics May Not Be the Panacea.

Security

FICO

MAY 3, 2023

Action: Using analytics-based decisioning and rules-driven workflow automation , banks can trigger holding periods for payments above a specific threshold (such as those exceeding a percentage of the available balance) to allow customers to reconsider, or for further fraud investigation. What About Declining High-Risk Payments Outright?

Scams

M2P Fintech

APRIL 29, 2025

Rise in Fraud & Delinquency – Fraudulent activities, including identity theft and misuse of loan funds, significantly threaten the financial stability of both microfinance institutions (MFIs) and their clients. This lack of transparency can lead to inefficiencies, delayed repayments, or even defaults.

Technology