Payments Dive

FEBRUARY 8, 2018

The Federal Trade Commission’s online database of consumer complaints reports 13 million complaints from 2012-2016, 42% of which were fraud related, and 13%, identity theft complaints. As the technology behind payments becomes more advanced and readily available, so too are the possibilities for fraud.

Identity Theft

Segpay

NOVEMBER 26, 2024

typing speed, location data), with authoritative databases or records. With the rise of online transactions, digital services, and remote operations, verifying identities online has become critical. Emerging technologies like decentralized identity (DID), where users have full control over their personal data, are gaining traction.

Verification

PYMNTS

SEPTEMBER 23, 2020

Senior citizens are the demographic group most vulnerable to identity fraud, as they are often not as digitally savvy as their younger counterparts nor as adept in online security best practices. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

Identity Theft

Fintech News

APRIL 22, 2024

The consequences of such attacks are severe, leading to financial losses, identity theft, and reputational damage for both users and financial institutions. For signature-based detection, SecIron includes a large database of known malware signatures which ensures that SecIron can protect users from even the latest malware threats.

Phishing

PYMNTS

JUNE 22, 2020

database that includes virtually all new (and past) card applications from Visa issuers. The database, at launch, includes information spanning 100 million new applications, 12 million fraud cases and more than 8 million bankruptcies annually. If not, are they a victim of identity theft?” Barrett explained.

Identity Theft

PYMNTS

JULY 20, 2020

“The Consumer Complaint Database has long been an early warning system for emerging problems in the financial marketplace, and it has never been more valuable than now — when many Americans need more help than ever before,” he said, according to the release.

CFPB

PYMNTS

OCTOBER 8, 2018

For Onfido, which verifies individual identities as people wield photo-based ID documents, tackling fraud is a matter of making sure identity documents are genuine. With such methodologies afoot, the traditional models of ID verification fall by the wayside, he told Webster. The Trade-Offs.

Identity Theft

VISTA InfoSec

JULY 5, 2023

With the proliferation of people paying hospital bills and health insurance using credit and debit cards, the risk of identity theft has also augmented exponentially! Medical Data: Medical information is stored securely in digital files, databases, fingerprint records, and DNA samples. million between May 2020 and March 2021.

PCI DSS

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. Blockchain technology offers a solution to these concerns, enabling age verification without collecting or storing sensitive data in a centralized database.

Verification

Trade Credit & Liquidity Management

MARCH 27, 2025

The system utilizes extensive live identity databases to cross-reference personal and commercial data, including business registration status, addresses, commercial risk scores, and more. This innovation aims to mitigate identity theft and lending fraud risks while improving efficiency in credit decision-making.

Identity Theft

PYMNTS

DECEMBER 27, 2019

In response to the breaches, Wawa is offering free credit monitoring and identity theft prevention help. Massive data breaches are becoming more and more common as more information is moving online and to databases. The company said the police are involved and a forensics team is working on an investigation internally.

Data Breach

PYMNTS

JUNE 11, 2020

What is new is the way in which the technology is being incorporated into businesses’ broader efforts to comply with relevant AML/KYC regulations to help mitigate identity theft and fraud and the legislation being adopted to support those technologies and govern the ways they are implemented.

AML

Fintech News

MAY 22, 2024

of respondents lost money to scams or identity theft in the past year, resulting in an estimated US$1 trillion in financial losses. The Global State of Scams 2023 Report by the Global Anti-Scam Alliance (GASA) and ScamAdviser reveals a severe global increase in scams.

Financial Crimes

PYMNTS

FEBRUARY 25, 2019

Roughly 90 percent of India’s citizens are enrolled in Aadhaar, and the BPP is aimed at providing these citizens with greater control over the personal information stored in the database. Another partnership is bringing banks and DMVs together in a public-private partnership, aimed at solving the common problem of identity theft.

Authentication

Segpay

DECEMBER 13, 2024

In identity management, this right is challenging, particularly if a users information is stored in various authentication databases. Challenges in Balancing Privacy and Security Organizations face complex challenges in complying with these regulations while implementing effective identity management.

Privacy

PYMNTS

MARCH 29, 2017

Data and analytics startup XOR Data Exchange announced it will provide a free resource to online retailers to help businesses identify and mitigate the risk of identity theft. The exchanges supported by XOR Data Exchange are not your typical shared database platforms.

Identity Theft

PYMNTS

OCTOBER 2, 2017

The nationwide lawsuit represents the interests of one billion users, all of whom face the risk of future identity theft thanks to the Yahoo breach. EDGAR Database. The courts reportedly dismissed Yahoo’s claim that victims did not have the standing to sue.

Cybersecurity

Fi911

SEPTEMBER 27, 2023

As traditional safeguards like passwords and two-factor authentication fall short, liveness detection adds a crucial, real-time layer to identity verification. Halting Identity Theft While typical verification methods have their drawbacks, liveness detection takes security up a notch.

Security

PYMNTS

MARCH 24, 2017

The crimes themselves can range from identity theft to falsification of corporation ownership to even simply doing business with criminals on a watch list. This leads, for example, to the processing of payments across one hub and catching activity in one database and applying uniform business rules.

Compliance

PYMNTS

MAY 24, 2018

If the aim is to give EU-based consumers power over who has their information and how it is used, by giving them the choice to demand their information be deleted from corporate databases, the questions remain for companies: What happens when that demand to delete is, in fact, actually demanded ?

Identity Theft

PYMNTS

JUNE 27, 2016

And, breached firms note, dollars they shouldn’t be on the hook for since it is extremely hard to prove that being victimized in one breach is connected to identity theft that may or may not happen down the road. Why else would hackers break into a store’s database and steal consumers’ private information?”

Breach

The Payments Association

NOVEMBER 18, 2024

According to Cifas, one in five suspected money muling cases filed to the Cifas National Fraud Database involves young people aged 21 and under. Fraud attacks targeting youth, including online scams, phishing attempts, fake scholarships, identity theft, and money muling, often take advantage of their inexperience and lack of knowledge.

Financial Literacy

Stax

NOVEMBER 27, 2023

law through the Patriot Act, and requires financial institutions to “form a reasonable belief that it knows the true identity of each customer.” You’d also likely have to undergo enhanced due diligence (EDD), which is used for customers with a higher risk of identity theft, money laundering, or other illegal activities.

Due Diligence

Segpay

DECEMBER 14, 2023

Blockchain (computer software code) records and stores all transactions in a digital database. The transactions are grouped in Blocks and added to the database chronologically, forming a chain of cryptographic functions. Anyone in the world can access Bitcoin and use it.

Cryptocurrency

Exact Payments

JULY 1, 2024

Cookies often contain session data that can authenticate a user to a website, and securing these is crucial to preventing identity theft. The encrypted data is then written to our database. Instead, each sensitive PII item is encrypted with a newly generated key, and the key is stored in a hardware security module (HSM).

Data Security

Fintech Finance

MARCH 6, 2024

It supports e-merchants in their KYB process by checking the identity of the buyer through open-banking technologies and Allianz Trade’s large and deep database, which contains financial, commercial and strategic information on +83 million companies worldwide. An insurance covering fraud risks : this service provides e-merchants with more security (..)

B2B

Seon

JANUARY 29, 2024

It is also considered a form of identity theft, because it happens when someone logs into an account that isn’t theirs to exploit it. In layman’s terms, users may refer to account takeover fraud as account hacking – when they realize someone stole their online credentials.

Account Takeovers

Clearly Payments

MARCH 4, 2024

Once inside the system, they accessed and extracted sensitive credit card data, including card numbers, expiration dates, and cardholder names, from the company’s databases. The stolen data was then exfiltrated from the network and, ultimately, used for fraudulent purposes, including unauthorized purchases and identity theft.

Phishing

PYMNTS

JUNE 1, 2016

These exchanges supported by XOR Data Exchange are not your typical shared database platforms. The company’s Compromised Identity Exchange was launched two weeks ago at the request of a large bank that had customer records compromised.

Compromise

FICO

MAY 19, 2021

While the UK has the Cifas national databases for fraud prevention, identity theft and protective registration, these resources are not available in or applicable to EU countries. . Cross-border fraud is also exacerbated in the UK, EU and Middle East by a lack of cross-border credit bureau facilities.

Cross-Border

Nanonets

SEPTEMBER 17, 2024

Fraud detection: A periodic review of bank statements can help financial institutions detect unauthorized transactions, fraud, and identity theft early. By representing financial data as interconnected nodes and relationships, they provide crucial context that traditional databases lack. 

Fraud Detection

PYMNTS

MAY 15, 2018

Credit bureau-based solutions offer easy API implementation and a fast, non-intrusive experience, but they do not actually verify the identity of the person who is doing the transaction.

Verification

PYMNTS

MARCH 29, 2018

IdentityMind is working to deliver that by storing its eDNA profiles in a “reputational database,” including digital identities that interact with various clients, individuals or companies. Building a database of trustworthy users also adds context to the risk of a transaction.

Authentication

FICO

MAY 19, 2021

While the UK has the Cifas national databases for fraud prevention, identity theft and protective registration, these resources are not available in or applicable to EU countries. . Cross-border fraud is also exacerbated in the UK, EU and Middle East by a lack of cross-border credit bureau facilities.

Cross-Border

FICO

JANUARY 13, 2020

plans to create a reassigned number database ), the “autodialer” definition continues to remain in limbo. One of the most significant developments was the rejection of the FCC’s interpretation of “autodialer” under the TCPA. While current FCC leadership has tried to address some of the other issues implicated in the 2018 decision (e.g.,

Authentication

Fintech News

OCTOBER 28, 2024

Frederic Ho, Jumio VP of APAC said his eKYC firm addresses the vulnerabilities of database and biometric identity verification systems to deepfake and identity theft, by implementing advanced liveness detection to counter sophisticated fraud tactics like face morphing, face swapping, and camera injection in eKYC processes.

Verification

Fintech News

JANUARY 27, 2025

eKYC or electronic know-your-customer refers to the use of digital technologies to verify the identity of a customer remotely. This process serves the same purpose as a traditional KYC protocol: to prevent fraud and identity theft while ensuring compliance with regulatory requirements.

Money Laundering