PYMNTS

OCTOBER 25, 2016

LifeLock, the identity theft protection company, launched Monday (Oct. 24) a mobile app aimed at enabling consumers to better manage their credit cards. That could result in missed payments, which could impact a consumer’s credit score. LifeLock said the app is a necessity because most people in the U.S.

Credit Cards

Fintech News

APRIL 22, 2024

Phishing scams employ social engineering tactics to trick users into revealing login credentials, allowing attackers to hijack accounts. The consequences of such attacks are severe, leading to financial losses, identity theft, and reputational damage for both users and financial institutions.

Phishing

Finovate

AUGUST 14, 2024

Digital identity verification innovator Socure has unveiled its Selfie Reverification solution. The new capability provides a way to validate return consumers online in less than two seconds with just a selfie. “Identity verification isn’t a one-time event. Johnny Ayers is Socure’s founder and CEO.

Credential

PYMNTS

JUNE 21, 2016

Computer manufacturer Acer announced that hackers may have stolen the payment credentials of thousands of its customers. The company notes that the credentials may have been breached by a third party between the dates of May 12, 2015 and April 28, 2016. Canada and Puerto Rico, according to a letter from the company.

Compromise

Fi911

JANUARY 18, 2024

They demonstrate the diverse methods and strategies employed by fraudsters to exploit individuals and financial institutions for their own gain: Identity Theft A criminal steals an individual’s personal information, such as Social Security number, bank account details, or credit card information, and uses it to impersonate the victim.

Account Takeovers

Fi911

JULY 8, 2024

The intent is to use stolen money, personal information, or both, to take advantage of both consumers and businesses. This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. eCommerce fraud refers to deceptive activities that occur during online transactions.

Account Takeovers

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.

Deepfake

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. Those are much harder to resolve from the consumer end.”.

Identity Theft

PYMNTS

MARCH 29, 2017

Online retailers just got a new tool in the fight against identity theft and fraud. XOR Data Exchange , Austin-based data and analytics startup, just recently introduced a new resource for online retailers to fight the account takeovers as the number data breaches that include account login credentials grows. and globally.

Fraud Prevention

FICO

MAY 15, 2018

As a drumbeat of data breaches becomes the new reality — 42% of organizations breached in 2017 were breached in the past — it’s easy for consumers to throw up their hands and brace themselves for becoming a victim of identity theft or other financial crime.

IRS

PYMNTS

JANUARY 16, 2020

Fraudsters are starting off the new decade armed with the stolen data and credentials of millions of global consumers, and they are already putting that data to use. Today’s fraudsters are practiced and well-equipped, making proper data and consumer identification a must to maintain a successful business in any industry.

AI

PYMNTS

AUGUST 24, 2018

Online payment platforms have no doubt changed how worldwide consumers do business. Consumers and companies alike are even turning to marketplace platforms like Fiverr and TaskRabbit when hiring freelancers, handymen and other short-term or part-time workers. Fighting Fraud. They can also cost them their reputations. Going Digital.

Identity Theft

PYMNTS

JANUARY 23, 2020

billion consumer accounts fell victim to data breaches during the first half of 2019 — to the tune of $4 million in lost revenue per breach. More than 90 percent of Americans have fallen victim to online scams, data breaches, identity theft or other forms of fraud, though certain varieties are more common than others.

Phishing

PYMNTS

FEBRUARY 7, 2018

Department of Justice said it had indicted 36 people from around the globe tied to an internet identity theft ring. The cybercriminals racked up nearly $530 million in losses to consumers and enterprises. According to reports by Reuters Wednesday, the U.S.

Crime

PYMNTS

SEPTEMBER 19, 2019

billion stolen credentials. Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1

AI

PYMNTS

JANUARY 20, 2020

Bad actors have taken full advantage of the online world’s increasing fragmentation as consumers and businesses alike interact across dozens of channels. Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identity theft. The Technology Barrier .

Identity Theft

PYMNTS

FEBRUARY 20, 2019

This type of identity theft is growing only more insidious for financial institutions (FIs), particularly in today’s digital world as the assault on stealing identities becomes more rampant. While this presents big problems for consumers, banks and others charged with protecting their money face even more daunting challenges.

Checks

PYMNTS

APRIL 15, 2019

The site offers up a rich trove of information on consumers, including their fingerprints. 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. Through this method, they sent tens of millions of malicious emails.”.

Money Laundering

PYMNTS

JUNE 3, 2020

That’s especially important as criminals seek to use eCommerce to commit what might be termed “authorized fraud” as bad actors get hold of card details or log-in credentials, pose as legitimate account holders and send payments. “What’s going to change, quite significantly in the U.S.

Business Email Compromise

Fintech Finance

JUNE 3, 2024

Red Expres shoppers can register their information, payment credentials and biometric on-site and effortlessly pay for their goods by placing their hand over a sensor at the payment terminal. This is the first Biometric Checkout Program pilot that allows shoppers to pay with their palms and the second pilot in the LAC region.

Visa

PYMNTS

FEBRUARY 21, 2020

Corporate buyers are also consumers, meaning they are accustomed to eCommerce’s ease and now expect the same conveniences at work. Criminals might use faked credentials to sign up for monthly purchasing plans, gain services for 30 days, and then vanish once the first bill arrives. False Positives and Data Security.

B2B

PYMNTS

SEPTEMBER 18, 2017

That’s just on the consumer side, and none of them are delightful choices. . In our latest Topic TBD, Jumio CEO Steve Stuut says it’s all about finding a digital identity anchor that will help reduce the risk of those decisions. . What to do in the wake of the Equifax breach: Run? Freeze credit? Equifax hack as game changer?

Breach

Innovative Payments Association

JUNE 26, 2024

We believe it may have been an account takeover or at the very least, someone who illegally obtained her personal credentials and instigated a couple of small financial transactions that I am sure were designed to see if it was possible to begin transferring money out of her account.

Scams

PYMNTS

OCTOBER 18, 2019

It’s been said that fraudsters are always evolving, and always looking for the path of least resistance in their efforts to steal identities and credentials to remain anonymous and … keep stealing. No surprise, then, that identity theft is on the rise. Those victims are kids — in some cases, even infants.

Identity Theft

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.

Fraud Prevention

Stax

JULY 16, 2024

Consumers are increasingly opting for debit and credit cards or other digital payment methods—for in-store and eCommerce purchases alike. A study by the Pew Research Centre found that in 2022, 41% of consumers didn’t use cash for weekly purchases of essentials like groceries and gas. The writing on the wall is clear.

PCI DSS

FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Why First-Party Fraud Can Be Easily Missed. How to Get Ahead of First-Party Fraud.

Cross-Border

Clearly Payments

JANUARY 8, 2024

This can include stolen credit card information, identity theft, or fraudulent transactions. This includes limiting access based on job responsibilities, employing unique login credentials, and promptly revoking access for terminated employees.

Risk Management

FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Why First-Party Fraud Can Be Easily Missed. How to Get Ahead of First-Party Fraud.

Cross-Border

PYMNTS

MAY 5, 2017

explained: “Application interconnectivity enables myriad benefits that consumers of enterprise software take for granted, but it also gives cybercriminals multiple pathways with which to exploit a single breach.”. The consumer experience matters — from entering the home page through to making payments.

Breach

FICO

NOVEMBER 25, 2019

While consumers demand their banks protect them from fraud, enhanced protection must be delivered with a customer experience that is fast, easy and consistent. You can read the product announcement here , but read on to learn why we launched FICO® Identity Proofing and FICO® Authentication Suite.

Authentication

Seon

JULY 10, 2024

It ensures smooth processing and compliance for legitimate payments, primarily verifying transaction details, validating customer credentials, screening against sanctions and watchlists, and ensuring compliance with regulations. The focus for payment transaction monitoring is slightly adjacent. Fraud transaction monitoring’s scope is narrow.

Transactions

PYMNTS

MARCH 29, 2018

“Currently, there is a lot of information that can be associated with digital identities, and as technology continues to evolve, that identity definition becomes richer and more accurate.”. Smart Compliance for Stronger Digital Profiles.

Authentication

PYMNTS

MAY 15, 2018

Their goal is to trick businesses into thinking they are legitimate customers so they can leverage credentials and money that aren’t truly theirs. This is why identity verification (IDV) is so important – but it’s also complex and difficult to execute well. GDPR will give consumers the right to data erasure.

Verification

Seon

JUNE 21, 2023

In the modern consumer landscape, VCCs can be used anywhere online that accepts card payments, and generally anywhere in-person where a mobile device can be tapped to pay. Those people can be enticed by the offer of a VCC and ultimately tricked into providing their financial information, leading to cases of phishing and/or identity theft.

Credit Cards

PYMNTS

APRIL 22, 2016

Bitcoin As An ID Theft Solution? . A recent report by Harris Poll stated that 10 percent of consumers (of those surveyed) said they use bitcoin as a payment method in order to avoid identity theft during tax time. Can Bitcoin Break The $450 Mark?

Bitcoin

Fintech News

DECEMBER 16, 2024

Scam threats and resulting losses can erode public trust, especially when account credentials get stolen through digital deception, leading to unauthorised transactions. The SRF works alongside other industry-wide anti-scam efforts to protect consumer interests and sets clear anti-scam duties for FIs and telcos to tackle phishing scams.

Phishing