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. Phishing attempts increased approximately 65 percent in 2019, and cost businesses more than $12 billion in stolen funds, victim payouts and opportunity costs. million per breach.

Phishing 64

Phishing Data Breach Breach Scams 64

EBizCharge

OCTOBER 25, 2023

Now more than ever, businesses are focusing on preventing data breaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM Data Breach Report , the global average cost of data breaches was $4.45 What are data breaches?

Data Breach 52

Data Breach Best Practices Breach Phishing 52

Fintech News

MAY 1, 2025

Data from Verizon Businesss 2025 Data Breach Investigations Report reveal that system intrusion has risen considerably over the past four years, escalating to become the dominant threat pattern across APAC. In 2024, malware accounted for 83% of breaches, up 25 points from 58% in 2023.

APACS 87

APACS Data Breach Breach Ransomware 87

Fintech News

JUNE 10, 2024

Akira affiliates gain initial access by exploiting vulnerabilities, brute-forcing services like Remote Desktop Protocol (RDP), social engineering, and using compromised credentials. Reducing the amount of unnecessary data collected can lessen the impact of a data breach and decrease the resources needed for data protection.

Ransomware 107

Ransomware Authorization Phishing Cybersecurity 107

The Fintech Times

DECEMBER 18, 2023

“A never-ending stream of data breaches combined with highly sophisticated and technical attacks means the stolen personal information available on the dark web is continuously replenished. Take company-wide training to identify phishing attacks for example.

Cybersecurity 139

Cybersecurity Ransomware RDC Credential 139

PYMNTS

JULY 24, 2020

Instead, Instacart said hackers used credential stuffing, a practice in which usernames and passwords stolen from other sites are used to hack into other accounts. “It We are not aware of any data breach at this time,” an Instacart spokesperson said. “We We take data protection and privacy very seriously.

Accounts 75

Accounts Compromise Data Breach Phishing 75

PYMNTS

JUNE 28, 2016

As ZDNet reported , the company posted on its website that the sample of records it saw were “real and current,” but maintains that it was not hacked and that the data may have been stolen via phishing. It was reported that the login credentials of more than 32 million Twitter users were compromised.

Data Breach 40

Data Breach Breach Credential Phishing 40

Fintech News

JANUARY 17, 2024

Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022. Over 80 percent of these phishing campaigns mimicked banks or financial services, including institutions based in China, as well as local services like Singpass and SingPost.

Deepfake 125

Deepfake APACS Scams Authentication 125

Fintech Finance

NOVEMBER 6, 2024

Despite the popularity of passwords and OTPs, these traditional verification methods are increasingly vulnerable to online scams like phishing or being intercepted by fraudsters via screen mirroring.

Visa 98

Visa APACS Transactions Authentication 98

PYMNTS

JUNE 29, 2020

The most popular technique, credential abuse, involves fraudsters using compromised passwords and other login information to gain access to sensitive systems. One 2018 study found that 81 percent of open banking-related breaches were the result of stolen or weak passwords. There were 85.42 million were aimed at the financial industry.

MFA 96

MFA Risk Security API 96

PYMNTS

FEBRUARY 8, 2019

IBM data said the average cost of a data breach is $3.86 Rising frustrations with passwords have churned up excitement over sophisticated technologies, like biometrics, to safeguard data. Plus, professionals will often use paper or spreadsheets to keep track of those login credentials. million, with U.S.

Phishing 66

Phishing Payment APIs and Integration Credential MFA 66

PYMNTS

JANUARY 25, 2021

They often hack into these consumers’ accounts using passwords stolen from other sites that use the same login credentials, for example. Data breaches, botnet attacks and other forms of external threats are well-known to digital-first banks. Why Digital-First Banks Require Different Defenses For Varied Fraud Threats.

Credential 94

Credential Data Breach Phishing Cybersecurity 94

PYMNTS

JANUARY 28, 2020

If they’re not grabbing stolen credentials off the Dark Web then they’re neck-deep in buyer-seller collusion, or the long con of keeping fake accounts in good standing … just enough to drain them and abscond. Try wrapping your mind around the price tag of the average corporate data breach at $3.92 million per incident.

Data Breach 57

Data Breach Phishing Breach Bots 57

PYMNTS

JULY 19, 2020

Javvad Malik , security awareness advocate at KnowBe4, said the attack highlights the need for “a layered defensive strategy, in particular against credential stuffing, exploitation of unpatched systems, and phishing emails which are the main source of ransomware,” teiss reported.

Ransomware 60

Ransomware Phishing Encryption Data Breach 60

PYMNTS

MARCH 18, 2020

Fraud is a perennial concern for quick-service restaurants (QSRs), and digital channels open ample new avenues for cybercrime, with hackers targeting restaurants for their cash, data and even customers’ loyalty points. One hacker even posed as a company’s HR department and made off with more than 20,000 company records. .

Phishing 70

Phishing Smishing Fraud Prevention Point-of-Sale (POS) 70

PYMNTS

JANUARY 24, 2020

A successful phishing attack is among many businesses’ worst fears. Phishers targeting DocuSign are typically after users’ credentials, such as usernames, passwords and other identifying information, according to Heath. Phishing attacks often take one of two forms, Heath explained. Tracking Phishers’ Angles.

Phishing 52

Phishing Credential Best Practices Data Breach 52

PYMNTS

FEBRUARY 19, 2019

With a wealth of stolen credentials to pick from in the wake of several data breaches that comprised the identities of millions, fraudsters have more resources than ever. Overall, thanks to the rise in data breaches, merchants and FIs alike are dealing with a steep increase in fraud. Fraud is rampant and thriving.

Identity Theft 63

Identity Theft Data Breach Breach Verification 63

PYMNTS

DECEMBER 22, 2016

In a data roundup by the publication of the latest analysis of corporate cybersecurity, researchers identified where a security breach is most likely to occur. Meanwhile, 20 percent cited a lost device for the cause of a breach.

Cybersecurity 68

Cybersecurity Research Phishing Breach 68

PYMNTS

APRIL 14, 2019

In a statement to reporters, Microsoft said: “We addressed this scheme, which affected a limited subset of consumer accounts, by disabling the compromised credentials and blocking the perpetrators’ access.”. It also appears the bad guys didn’t access login credentials including passwords.

Breach 68

Breach Accounts Credential Compromise 68

PYMNTS

AUGUST 7, 2020

Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April. The following Deep Dive examines how fraudsters’ schemes target gamers as well as how data breaches enable bad actors to commit account takeover (ATO) fraud.

Phishing 89

Phishing Data Breach Account Takeovers Verification 89

PYMNTS

JULY 1, 2019

It’s open season for hacks on mobile order-ahead apps as data breaches continue to make headlines regularly and cybercriminals purchase stolen identities on darknet marketplaces. Chipotle denied any breach of its databases or systems. Such details can also be acquired via phishing schemes. Scamming, the Old-fashioned Way.

Account Takeovers 66

Account Takeovers Online and Mobile Banking Data Breach Credit Cards 66

PYMNTS

JUNE 13, 2019

As this month’s PYMNTS Digital Fraud Tracker highlighted, Amazon revealed in May that it was hit by an “extensive” fraud in which hackers are suspected of using phishing attacks on Amazon sellers to steal company money. Reports in Bloomberg , citing a U.K. Reports in Bloomberg , citing a U.K.

B2B 55

B2B Phishing Cybersecurity Data Breach 55

PYMNTS

SEPTEMBER 30, 2016

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S.

Security 76

Security Breach Data Breach Cybersecurity 76

PYMNTS

MARCH 16, 2017

The Department of Justice bringing charges against two spies in Russia and two hackers who allegedly took part in the massive data breach that rocked Yahoo recently has now shed light on exactly how these breaches took place. This past fall, Yahoo disclosed a massive breach of user accounts that impacted 500 million people.

FBI 46

FBI Breach Identity Theft Data Breach 46

PYMNTS

APRIL 9, 2018

The high-profile data breach that hit Saks and Lord & Taylor was already eclipsed just days later when news of possible similar attacks at Best Buy, Delta and others hit headlines. Despite the billions of dollars that businesses spend to safeguard their systems, data breaches continue to occur.

Data Breach 49

Data Breach Breach Cybersecurity Phishing 49

Seon

JUNE 15, 2023

Fraudsters use manipulation tactics such as email-based phishing or take advantage of leaked company data to gain access to – and take over – one or more of the business’s accounts. A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks.

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

AUGUST 9, 2018

“Threat actors are targeting enterprises by impersonating the services that enterprises rely on every day, such as email service providers and software as a service (SaaS) platforms,” said PhishLabs in a recent summary of the changing nature of phishing attacks. Social engineering ” is another tactic seen in business phishing attempts.

B2B 44

B2B Phishing Scams Data Breach 44

PYMNTS

FEBRUARY 2, 2018

According to the firm, fraudsters use a phishing scam by sending an email from an address similar to a legitimate company account. The email requests that an employee answer a brief survey then hit “confirm,” then directs them to enter their credentials in an online form to confirm their identity. By then, the damage has been done.”.

Direct Deposit 48

Direct Deposit Payroll Scams Due Diligence 48

The Payments Association

NOVEMBER 20, 2024

Account takeover fraud How it works: Fraudsters can use phishing emails, false promises, and other social engineering attacks to steal a cardholder’s personal information and gain unauthorised access to their account. How AI tools can help: Strengthening the login and checkout process using technologies like 3-D Secure 2.0,

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

Clearly Payments

JULY 16, 2024

Phishing and Social Engineering: Attackers deceive employees or customers into divulging sensitive information, such as login credentials or personal identification numbers (PINs). In 2023, 83% of financial institutions reported an increase in phishing attacks. The travel industry saw a 44% increase in phishing attacks in 2023.

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

MARCH 18, 2019

Last September, the Federal Bureau of Investigation (FBI) issued a warning about cybercriminals’ tactic of targeting digital payroll accounts, using phishing scams to obtain employee credentials and redirect payroll deposits to their own accounts. “Education is the number-one way employers can protect their payroll data.”

Payroll 64

Payroll API Payment APIs and Integration Data Breach 64

PYMNTS

OCTOBER 30, 2020

Land recently spoke with PYMNTS about the growing threat eSkimming presents, and detailed how payments tokenization and phishing awareness campaigns can keep consumers safe from these and other fraud tactics targeting eCommerce. Safeguarding Card Details.

Credit Cards 77

Credit Cards Credit Union Consumer Data Breach 77

PYMNTS

MARCH 2, 2020

With trust, however, comes inevitable breaches. When hackers hit Pennsylvania-based fuel and convenience retailer Wawa, they made off with the credentials of potentially thousands of credit union members. The Desjardins Group incident sent a chill through the CU community. It’s been a jarring wakeup call, but now, CUs are wide awake.

Credit Union 52

Credit Union Credit Union Service Organization NCUA CCPA 52

Seon

JANUARY 29, 2024

In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials. This could be accidental, or more sophisticated, for example following a mass phishing email campaign. What Is Account Takeover Fraud? There are many paths to successful ATO fraud.

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Fraud Detection 52

PYMNTS

AUGUST 21, 2018

Using malware, the hacker or hackers steals bank credentials and personal and corporate data. According to a press release from Kaspersky, the malware is spread via infected USB devices, as well as through spear phishing emails that include features to evade detection. Kaspersky Lab announced on Tuesday (Aug.

Credential 45

Credential Phishing Origination Security 45

PYMNTS

JANUARY 4, 2020

Insofar as the average consumer knows, that side of the web – which is accessible only via a TOR server – is the place where their personal information is sold whenever there is a data breach. A few years ago, one could get an Uber credential for as little as $1 – but these days, they tend to cost north of $40. Lime Scooters

Legal 63

Legal Bitcoin Credential Credit Cards 63

FICO

MARCH 6, 2017

Criminals are looking to gain financially in three main ways: Data breaches to feed identity theft. Third-party fraud is fuelled by identity theft, and breached data gives criminals the information they need to take over someone’s identity. So why do cyber-attacks happen? For financial gain.

Identity Theft 65

Identity Theft Breach Data Breach Phishing 65