VISTA InfoSec

FEBRUARY 25, 2024

They take advantage of vulnerable software, stolen credentials, tricked employees, business partner access, unencrypted transfers, and even insider threats to penetrate networks. For customers exposed to breaches, identity theft risks skyrocket, leading to bank/credit card fraud plus medical/tax/employment fraud.

Data Breach

PYMNTS

NOVEMBER 16, 2020

Ragan noted that advanced technologies like artificial intelligence (AI) and machine learning (ML) can help FIs embed defense mechanisms that glean deeper insights into consumer behavior and recognize anomalous patterns — in the process raising red flags to better prevent unauthorized transactions, identity theft and account takeover.

Identity Theft

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials.

Blocks

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. Yet, how can banks protect against identity theft and application fraud with so many details compromised? Fraud is rampant and thriving.

Identity Theft

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. The captured information is then sent to a remote server controlled by cybercriminals.

Mobile Banking

The Payments Association

NOVEMBER 20, 2024

From payment card fraud and identity theft to chargeback fraud and refund fraud, scammers are continuously devising new ways to siphon money away from cardholders and merchants illegally. Finally, AI tools also have applications in identity verification. How will AI tools evolve to combat new threats?

AI

Payments Source

JULY 9, 2018

All service providers, even those with a strong security posture, are only as secure as the Home Depots, LinkedIns and Equifaxes of the world, argues George Avetisov, chief executive of HYPR.

Data Breach

Segpay

OCTOBER 22, 2024

High-profile data breaches have made the risks of storing user IDs clear, with victims suffering from identity theft and financial loss. Verifiable Credentials (by IBM) : Uses blockchain for age and identity verification, providing encrypted digital credentials.

Verification

PYMNTS

OCTOBER 25, 2016

LifeLock, the identity theft protection company, launched Monday (Oct. According to a report , the new mobile app, dubbed Identity, aims to give consumers one place where they can view all of their online accounts of different credit cards and update those accounts when there is new information, such as a new address or phone number.

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

PYMNTS

JANUARY 27, 2021

Some cybercriminals steal other individuals’ identities, while others construct new ones for synthetic identity fraud. The Federal Reserve determined that synthetic identity fraud costs FIs $6 billion annually , with each incident costing lenders between $10 and $15,000.

Innovation

PYMNTS

OCTOBER 26, 2016

While POS solutions certainly have their place, Intel is encouraging a bigger dialogue around industry-wide standards that can do more than just check the box of PCI compliance to truly help protect consumers against identity theft and payments fraud. to provide additional layers of security. Covering All The (Data) Bases.

Payment Security

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. Cyber-attacks with financial demands.

Identity Theft

Finovate

AUGUST 14, 2024

Built on the company’s Document Verification (DocV) solution, Selfie Reverification also detects signs of deepfaking, and readily identifies age discrepancies between the photo and the credential. “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

PYMNTS

SEPTEMBER 24, 2019

With billions of compromised credentials exposed online, there is a high likelihood that most users of the U.S. “FinCEN is seeing around 5,000 account takeover reports each month involving approximately $350 million,” he said. These are attempts, and, often because of diligent work by bank compliance officers, do not represent actual losses.

Fincen

PYMNTS

JUNE 8, 2016

percent of all ID theft reports to the FTC. “Identity theft reports to the FTC likely represent only the tip of a much larger iceberg. According to data from the Identity Theft Supplement to the 2014 National Crime Victimization Survey conducted by the U.S.

FTC

PYMNTS

MAY 29, 2020

Those who receive a letter but did not apply should notify the UIA, as identity theft could have taken place. The scams have come in multiple forms, including fake email links to harmful malware and emails that appear to be from official sources that intend to glean personal information or login credentials illegally.

Identity Theft

PYMNTS

DECEMBER 23, 2020

According to the release, Khaim and Khaimov allegedly paid others to pose as the owners of pharmacies, hiring pharmacists to pretend to be supervisors, in order to obtain pharmacy licenses and credentials. Khaim was separately charged with two counts of concealment money laundering and one count of aggravated identity theft.

Money Laundering

Fi911

JULY 8, 2024

This type of fraud can take various forms, including identity theft, chargeback fraud, and phishing attacks. Account Takeover Fraud Account takeover fraud involves cybercriminals gaining unauthorized access to a victim’s online account, often through the use of stolen login credentials or phishing schemes.

Account Takeovers

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). Medical Identity Theft: Fraudsters use stolen patient information to obtain medical services, prescriptions, or insurance reimbursements.

Risk

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.

Fraud Prevention

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

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

JUNE 6, 2016

According to Krebs on Security , last week, several identity theft protection companies incorrectly named Dropbox as the source of a data breach that compromised nearly 73 million usernames and passwords.

Data Breach

Payments Source

MAY 17, 2017

counterfeit card fraud declines with the advance of EMV, researchers say fraudsters seeking richer ground are reviving a familiar card scam based on creating fake credentials, known for many years as synthetic identity fraud.

EMV

PYMNTS

AUGUST 24, 2018

What’s more, companies entering the space not only need to authenticate their customers’ identities when they make payments, but verify the sellers or workers receiving said payments, ensuring each side of a transaction is truly what it claims to be. Fighting Fraud.

Identity Theft

Payments Source

NOVEMBER 14, 2017

There is a visible shift in attack patterns immediately following a breach, from initial attacks focusing on high-value loan applications at online lenders to low-value identity testing on charities and social media sites to determine if a stolen credential will work.

Breach

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

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.

Identity Theft

PYMNTS

MARCH 16, 2017

During the interview, he stated that spear phishing or social engineering “was the likely avenue of infiltration” used by hackers to steal the credentials of an “unsuspecting employee” at Yahoo. From there, hackers gained access to Yahoo’s internal networks, and the rest has gone down in cybersecurity history.

FBI

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. The defendants also used stolen email credentials to copy a victim’s email contacts. Through this method, they sent tens of millions of malicious emails.”.

Money Laundering

PYMNTS

JANUARY 23, 2020

Many of these data breaches are the result of phishing, which dupes victims into giving up login credentials or other sensitive information that is either used for account takeovers or sold on dark-web marketplaces. This comes to approximately one hack every 39 seconds, and affects a wide range of businesses and customers.

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. Well, here, perhaps, is the hacker’s three dozen — and might there be more? According to reports by Reuters Wednesday, the U.S. The cybercriminals racked up nearly $530 million in losses to consumers and enterprises.

Crime

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. Synthetic identity theft — and all its subsequent fraud events — remains a treasured tactic among cybercriminals, and even today’s AI has trouble detecting it.

AI

PYMNTS

FEBRUARY 21, 2020

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. Business identity theft is used to launch everything from purchasing plan scams to tax and credit card application fraud, and it caused an estimated $137 million in damages in 2017.

B2B