PYMNTS

NOVEMBER 27, 2018

Other requirements include customer identity theft protection services paid by the business, or rules that allow consumers that successfully sue a business to retain attorney’s fees from that business. “We’re But that doesn’t mean small businesses shouldn’t do anything to protect data,” she noted.

Research 75

Research Small Business Identity Theft Cybersecurity 75

PYMNTS

JULY 9, 2020

Breaches like those experienced by Equifax in 2017 and Capital One in 2019 may have contributed to the high prevalence of identity thefts reported in 2019, with new data revealing that such attacks comprised 20.33 percent of all fraud reported in 2019.

Fraud Prevention 104

Fraud Prevention Account Takeovers Authentication Identity Theft 104

Stax

NOVEMBER 11, 2024

Not only does this pass through more hands and take more time than an electronic ACH payment , but there is also a huge amount of personal information present on a paper check, exposing the payer to potential identity theft. Beyond the inconvenience of mailing a paper check, there is an increased risk of identity theft.

ACH 88

ACH Checks Identity Theft Payments 88

The Payments Association

JUNE 11, 2025

Account takeover attacks exploit credential stuffing and social engineering techniques, with UK finance recording 34,114 cases of card identity theft in the first half of 2022 alone, leading to gross losses of £21.4 Traditional attack vectors continue to evolve alongside these new threats.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Fi911

JULY 19, 2024

It includes fraudulent transactions, account takeover, and identity theft. It includes fraudulent transactions, account takeover, and identity theft. This can include invalid or missing authorization, non-compliance with processing rules, and delayed or erroneous authorizations. Card Recovery Bulletin 11.2:

Disputes 104

Disputes Duplicate Non-Bank Authorization 104

PYMNTS

SEPTEMBER 27, 2018

A majority ruling by a panel of five judges approved the use of Aadhaar for welfare schemes because it works to stop theft and leakage in India’s $23.6-billion-a-year billion-a-year food welfare program. Sikri, adding that beneficiaries would be harmed if the technology was shelved.

Identity Theft 62

Identity Theft Privacy Verification Rules 62

PYMNTS

MARCH 26, 2019

The crux of the case is whether people whose data was stolen can bring a lawsuit against a company even if the data was not used by any other companies or criminals for things like identity theft or fake charges. Zappos ’ argument is that because customers weren’t harmed by the data breach, a federal lawsuit should not be warranted.

Identity Theft 49

Identity Theft Data Breach Breach Encryption 49

PYMNTS

DECEMBER 20, 2019

Wawa is getting in touch with customers and offering free credit card monitoring, as well as identity theft protection, to anyone who has been affected. Under Federal Communications Commission (FCC) rules, telecommunication firms are required to promptly notify users when there is a breach.

Data Breach 52

Data Breach Breach Identity Theft Credit Cards 52

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 62

Compliance Financial Crimes Crime Identity Theft 62

Fintech News

FEBRUARY 27, 2024

Japan Japan, as a forerunner in the adoption of customised cryptocurrency regulations, rolled out both the Travel Rule and stablecoin regulations in June 2023. Consequently, a multitude of financial institutions are preparing to launch stablecoins in 2024.

APACS 126

APACS Regulations Stablecoins Cryptocurrency 126

Finovate

OCTOBER 24, 2024

Socure expects the purchase will enhance its customers’ fraud-fighting efforts while offering the ability to verify identities across the entire customer journey. Socure will use Effectiv to create complex, combinatorial rules that apply not only to its own solutions but also to those from third parties.

Risk 64

Risk Acquirers Fraud Prevention Identity Theft 64

The Payments Association

MARCH 14, 2025

These rules help prevent fraud, identity theft, and illicit transactions. If a business exceeds a certain chargeback threshold, it could be placed on industry watchlists, such as the Visa and Mastercard Excessive Chargeback Program, leading to fines or account termination.

Risk 88

Risk Disputes Processors Fraud Detection 88

FICO

FEBRUARY 16, 2023

Banks can use this information to define rule sets to increase monitoring or do proactive customer outreach in case of balance inquiries, helping to head off criminal activity before it results in losses. We saw that in 2022, 58% of the attempted transactions in fraud cases were balance inquiries. Debbie holds a B.A.

Compromise 98

Compromise Debit Card Scams Smishing 98

PYMNTS

MARCH 12, 2018

district court in San Jose, California, ruled late last week that most of a lawsuit concerning Yahoo’s data breach, which exposed 3 billion users’ personal data, can proceed. According to news from Reuters , U.S. District Judge Lucy Koh dismissed an effort by Yahoo parent company Verizon Communications Inc.

Breach 40

Breach Identity Theft Data Breach Cybersecurity 40

EBizCharge

MARCH 18, 2024

HIPAA incorporates three primary rules: The privacy rule grants individuals control over their health data, including the right to access, request corrections, and control disclosures of their protected health information (PHI). These methods ensure the protection of patients’ PHI when processing payments for healthcare services.

Venmo 52

Venmo Zelle Identity Theft Privacy 52

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! Adherence to these regulations is paramount for safeguarding sensitive patient information from data breaches and cyber attacks. million between May 2020 and March 2021.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Finovate

FEBRUARY 8, 2024

Corsound AI Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud. Banks, credit unions, payment providers, and small-and-medium-sized businesses.

Payment APIs and Integration 59

Payment APIs and Integration Identity Theft Deepfake AI 59

The Fintech Times

OCTOBER 5, 2024

“Robust anti-fraud measures are crucial not only for safeguarding the bank’s operations but also for protecting customers from financial losses and identity theft.” As regulators improve their technology and processes, guidance is made clearer, and rules are more effectively enforced, this fine would be adequate.

Financial Crimes 83

Financial Crimes Crime Compliance Money Laundering 83

PYMNTS

MARCH 1, 2019

Crypto scams : The same week that JPMorgan CEO Jamie Dimon said he would not rule out crypto for use in consumer applications, news came that in India, an individual tricked 12 victims out of $250,000, with a fake initial coin offering named after a popular game show in that country. Brexit : No deal, maybe a deal, or maybe no exit at all.

Finance 63

Finance Identity Theft Push-to-Card Underwriting 63

PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement. The concept of digital ID may be shifting as well.

FTC 53

FTC Fed Federal Trade Commission Identity Theft 53

VISTA InfoSec

MAY 28, 2024

What are they, and how will they dictate new rules for businesses handling consumer data? Here’s what the numbers are telling us: 73% of US consumers are worried about data safety, especially the risk of identity theft and misuse of data. Major updates are on the horizon!

Privacy 130

Privacy Regulations Legal Identity Theft 130

Finextra

JUNE 26, 2025

This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations. GENIUS Act Clears the Way for Stablecoin-Powered Embedded Finance 23 June Now Hiring All companies Welcome to Finextra. We use cookies to help us to deliver our services. Please read our Privacy Policy.

Stablecoins 52

Stablecoins Payment APIs and Integration Fraud Prevention Cross-Border 52

The Payments Association

OCTOBER 4, 2024

Cybercriminals are constantly innovating, targeting vulnerabilities in payment systems to carry out unauthorised transactions, identity theft, and data breaches. For instance, PSD2’s Strong Customer Authentication (SCA) rules have added security layers but also created friction in the user experience.

Online and Mobile Banking 88

Online and Mobile Banking Cross-Border Payments Cross-Border Alternative Payment Methods 88

FICO

MAY 27, 2022

In areas, including the UK and parts of Europe, where there are some provisions in place, the application process involves rules, credit bureau data and batch processing. Identity theft is one of the key drivers for the soaring levels of application fraud. Fraud, however, is evolving quickly.

Identity Theft 52

Identity Theft Origination Use Case Checks 52

PYMNTS

OCTOBER 12, 2018

The only good thing about an ongoing parade of data breaches and innovative attempts at identity theft is that it can be incredibly persuasive when it comes to the importance of making the payments process more secure. When they went to court to fight that unjust enrichment case, they were ruled against. What’s Next.

Faster Payments 73

Faster Payments Authentication Payments Enrollments 73

Finovate

APRIL 11, 2024

Additionally, the combination of Mitek’s check image analysis and DataVisor’s analysis of check and customer lifecycle data will enable users to detect a wide variety of check fraud tactics including check kiting, remote deposit capture fraud, check washing, counterfeit checks, and identity theft.

Checks 59

Checks Remote Deposit Capture Counterfeit Check Identity Theft 59

FICO

MARCH 11, 2020

Individuals are using their own identities to purchase phones and other equipment, with the intent of never paying. Techniques for thwarting identity theft are ineffective at predicting fraudsters that want to game the system in their own name. Deploy advanced techniques like Fuzzy Matching Rules. cell phone service).

Best Practices 52

Best Practices Identity Theft Risk Rules 52

Finextra

JUNE 26, 2025

This type of fraud can lead to financial losses, identity theft, and reputational damage for both individuals and organizations. GENIUS Act Clears the Way for Stablecoin-Powered Embedded Finance 23 June Now Hiring All companies Welcome to Finextra. We use cookies to help us to deliver our services. Please read our Privacy Policy.

Stablecoins 52

Stablecoins Payment APIs and Integration Cross-Border Account Takeovers 52

FICO

FEBRUARY 28, 2018

Scores add precision to the broad-brush approach of rules-based detection. In the meanwhile, check out our previous posts on application fraud, including: Trends in Application Fraud – From Identity Theft to First-Party Fraud. Best Practices in Establishing Your Fraud Risk Appetite. ELI5: How Does the Dark Web Work?

AI 69

AI Best Practices Identity Theft Account Takeovers 69

PYMNTS

JANUARY 27, 2017

One thing seems certain, though: The SEC’s investigation into these incidents is almost certain to result in stricter rules and guidelines around disclosures of major security incidents, which will make it much harder for companies who fall prey to attacks to avoid negative publicity and scrutiny in the future.”.

Data Breach 71

Data Breach Breach Security Risk 71

FICO

JUNE 20, 2018

Most computer software encodes a set of rules — an algorithm — that a human has explicitly defined. Hence, machine learning in fraud detection provides tremendous value above and beyond the broad-based approach of rules-only based detection, including considerable performance lift. ELI5: How Does the Dark Web Work?

Fraud Detection 55

Fraud Detection Identity Theft AI Best Practices 55

FICO

JANUARY 13, 2020

The CFPB will issue its final debt collection rule in the fall of 2020. Forty-two years after the enactment of the Fair Debt Collections Practices Act, the CFPB proposed the first set of rules governing third-party debt collection activities. I predict we will see the final rule during the early portion of the 2020 NFL season.

Authentication 52

Authentication AML Finance OCC 52

FICO

DECEMBER 16, 2019

The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. Subscription fraud continues to be a major issue for operators, whether 1st party no intent to pay, identity theft, synthetic identities or (to a degree) account takeover.

Identity Theft 52

Identity Theft Account Takeovers Compliance AI 52

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. Behavior analysis with velocity rules If an account takeover is already underway, you can still catch it by spotting suspicious user behavior. The post What Is Account Takeover Fraud (ATO)?

Account Takeovers 52

Account Takeovers Accounts Fraud Prevention Phishing 52

Seon

JULY 10, 2024

These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Analysis : Advanced algorithms and machine learning models analyze collected data and compare it against predefined rules, historical patterns, and known fraud indicators.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

JANUARY 30, 2020

In the bid to integrate payments, while juggling network operating rules and merchant categories, the search for a payments partner to help manage and mitigate risk should center on finding “not just a consultant, but a practitioner,” said Butler. The Partnerships. It’s a constant battle to stay out in front of all that.”.

Risk 57

Risk Payment APIs and Integration Payments Cross-Border Payments 57

PYMNTS

APRIL 26, 2018

Deep Dive: GDPR and the New Rules of Data Handling. Take facial recognition technology and identical twins, for example. Like the human eye, this technology frequently fails to detect one twin from the other, meaning the opportunity for identity theft is ripe if one twin decides to go rogue.

Authentication 40

Authentication Identity Theft Consulting Addressing 40