Identity Theft and MFA - Payments Space

Cyber Threats Surge in India’s Financial Sector

Fintech News

MAY 8, 2025

These advanced impersonations, which use convincing AI-generated audio and video, trick users into revealing multi-factor authentication (MFA) codes or approving unauthorized authentication requests. India is experiencing a rise in deepfake identity fraud, with cases surging by 550% since 2019. billion) in 2024 alone.

Deepfake

Deepfake Data Breach MFA Phishing

How PCI DSS Compliance Protects Australian Businesses from Data Breaches?

VISTA InfoSec

MARCH 13, 2025

A brief introduction to PCI DSS PCI DSS is a global data security framework that protects businesses handling cardholder data (CHD) from data breaches, fraud, and identity theft. So, if you are wondering why you should invest in PCI DSS compliance in Australia and how it can safeguard your organization, keep reading to find out.

PCI DSS

PCI DSS Data Breach Breach Compliance

Digital Identity Verification

Segpay

NOVEMBER 26, 2024

The Importance of Reliable Digital Identity Verification In a digital world, ID verification is a trust-building mechanism that protects both the user and the organization. These platforms often rely on a combination of multi-factor authentication (MFA), which may include passwords, biometric verification (e.g.,

Verification

Verification Identity Theft Money Laundering Due Diligence

What is Third-Party Fraud?

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

Account Takeovers MFA Fraud Detection Credit Cards

Mobile Banking Malware on the Rise Amid Rapid Adoption

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.

Mobile Banking

Mobile Banking Online and Mobile Banking Identity Theft Credential

Multifactor authentication is still hackable

Payments Source

OCTOBER 15, 2019

MFA stops broad attacks, but more targeted hacks can still get through, says KnowBe4's Roger Grimes.

Multifactor Authentication

Multifactor Authentication MFA Authentication Identity Theft

Deep Dive: Orchestrating Complex Authentication And Fraud Decisioning

PYMNTS

FEBRUARY 18, 2020

Requiring multifactor authentication (MFA) could add frictions to companies’ payment systems and customer experiences, but such tools are necessary to enable smart authentication and compliance decisions. FIs and PSPs in Europe are particularly interested in robust fraud-busting technologies for SCA compliance, which is mandated under PSD2.

Authentication

Authentication Identity Theft Multifactor Authentication Fraud Prevention

Guarding the Gates: Data Compliance and Privacy

Segpay

DECEMBER 13, 2024

The Intersection of Data Privacy and Identity Management Source: ID Management Institute Identity management helps authenticate users and makes sure that only authorized individuals can access certain information.

Privacy

Privacy Compliance CCPA Authentication

5 Common Types of Fraud that Threaten Neobanks

Seon

SEPTEMBER 11, 2023

As neobanks evolve, the one downside of their innovation is that it opens up many new methods of attack for fraudsters, such as identity theft, fraud rings, and account takeover attacks. Identity theft: Scammers can commit identity theft by using methods like phishing and vishing to impersonate genuine users.

Identity Theft

Identity Theft Money Laundering Account Takeovers Fraud Prevention

The Role of Liveness Detection in Banking Security

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

Security Identity Theft Verification Authentication

What Are the Risks of Business Email Compromise & How Can You Prevent Them?

Seon

JUNE 15, 2023

Accordingly, BEC is not just limited to account takeovers and identity theft, but can also be a means for fraudsters to become imposters looking to subject the target company to further data breaches. Use multi-factor authentication (MFA) to alert you immediately to an unrecognized sign-in attempt.

Email Compromise

Email Compromise Compromise Business Email Compromise Risk

What Is Account Takeover Fraud (ATO)? Detection & Prevention

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. Educate your users: Remind users to prioritize password security, encourage the use of multi-factor authentication (MFA), and suggest the use of VPNs on public Wi-Fi networks.

Account Takeovers

Account Takeovers Accounts Fraud Prevention Phishing

What is an EFT Payment? Everything to Know About This Method of Payment

Stax

JULY 9, 2024

Data breaches that compromise consumer payment or sensitive business data, identity theft, and other forms of fraudulent transactions are all current threats of doing business—however, that is simply part of doing business in today’s digital age.

Electronic Fund Transfer Act (EFTA)

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer

How IDaaS is Revolutionizing Digital Identity

Segpay

DECEMBER 19, 2024

Instead of managing identity infrastructure in-house, businesses can leverage third-party identity providers that specialize in identity management, centralizing their user identities. Benefits of Adopting IDaaS Solutions Enhanced Security One of the primary benefits of IDaaS is the enhanced security it provides.

Verification

Verification Authentication MFA Compliance

Payments Space

Cyber Threats Surge in India’s Financial Sector

How PCI DSS Compliance Protects Australian Businesses from Data Breaches?

Trending Sources

Digital Identity Verification

What is Third-Party Fraud?

Mobile Banking Malware on the Rise Amid Rapid Adoption

Multifactor authentication is still hackable

Deep Dive: Orchestrating Complex Authentication And Fraud Decisioning

Guarding the Gates: Data Compliance and Privacy

5 Common Types of Fraud that Threaten Neobanks

The Role of Liveness Detection in Banking Security

What Are the Risks of Business Email Compromise & How Can You Prevent Them?

What Is Account Takeover Fraud (ATO)? Detection & Prevention

What is an EFT Payment? Everything to Know About This Method of Payment

How IDaaS is Revolutionizing Digital Identity

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