Payments Source

JANUARY 5, 2020

Traditional phishing attacks on email are easier for most users to spot, causing crooks to migrate to new venues, argues The ai Corporation's James Crawshaw.

Phishing 75

Phishing AI Mobile Banking ISOs 75

PYMNTS

MARCH 3, 2017

Especially when it comes to phishing schemes, which typically don’t take as much effort but can result in huge payouts. PYMNTS: How have phishing schemes evolved in recent years? PYMNTS: Can you discuss the biggest trends observed in financial phishing, banking malware and Android banking malware?

Phishing 66

Phishing Online and Mobile Banking Credential Security 66

The Fintech Times

JULY 10, 2024

Major retail banks in Singapore will soon phase out one-time passwords (OTPs) for bank account logins, a move orchestrated by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS). The post Singapore Banks to Phase Out OTPs to Combat Phishing Scams appeared first on The Fintech Times.

Phishing 59

Phishing Scams Authentication Financial Crimes 59

The Paypers

MAY 13, 2024

Cybersecurity company Kaspersky has released a report which uncovered a substantial increase in mobile banking malware and crypto-related phishing in 2023.

Mobile Banking 41

Mobile Banking Phishing Cybersecurity 41

PYMNTS

AUGUST 23, 2017

They’re getting hit with significant incidents an average of five times per year, including malware, targeted attacks, mobile exposures, rogue mobile apps and website or brand abuse, just to name the most common types. Oh, and don’t forget phishing and social impersonation. That’s a good thing.

Phishing 40

Phishing Online and Mobile Banking Mitigation Credit Cards 40

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. Deep Dive: Keeping Digital-First Banking Secure With AI, Biometrics. billion by 2024.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

MARCH 10, 2020

A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place. Businesses and organizations are already taking steps to close this security gap.

Contactless Payments 109

Contactless Payments Authentication Law Enforcement Cross-Border 109

PYMNTS

JULY 21, 2020

The Wall Street Journal recently reported a 35 percent jump in year-over-year credit card fraud in April, with fraudsters harnessing phishing schemes and brute-force hacking attacks, among others, to swindle data and funds. How Radius Bank Leverages Cooperative Threat Intelligence For Fraud Prevention.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

PYMNTS

MAY 28, 2020

In today’s top news, Google reported a resurgence of hacking and phishing attempts in April, and tech companies are making deals at their fastest pace since 2015. Plus, Samsung and SoFi have partnered to offer a new mobile money management tool. Google Reports Resurgence in Pandemic Hacking, Phishing.

Phishing 52

Phishing Federal Reserve API Fed 52

PYMNTS

APRIL 30, 2020

CUs are seeing an increased number of phishing emails and overall digital fraud since the pandemic started, with 22 percent of American consumers reporting they have been targeted by virus-related online fraud, according to one survey.

Credit Union 75

Credit Union Phishing Credit Union Service Organization Online and Mobile Banking 75

PYMNTS

OCTOBER 12, 2018

One of the reasons for this change in philosophy is the result of the rapid adoption of smartphones, mobile banking apps and other connected financial management tools. A massive amount of consumers around the globe rely on mobile devices to manage their money and interact with their FIs.

Security 76

Security Online and Mobile Banking Phishing Cybersecurity 76

PYMNTS

SEPTEMBER 21, 2018

The methods those bad actors use — and which have been documented in this space — include phishing attempts to gain access to individuals’ credentials. With those credentials in hand, the cybercriminal can access payroll accounts and subsequently change bank account information.

Payroll 56

Payroll FBI ACH Same Day ACH 56

The Fintech Times

DECEMBER 21, 2023

. “By enabling instant and secure money transfers between banks and individuals, FedNow aims to modernise and enable a more efficient US payment infrastructure. In 2024 I expect to see a surge in real-time transfers as more customers demand a seamless banking experience.” .

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

PYMNTS

SEPTEMBER 9, 2016

The malware targets users’ banking apps and steals credit card information. Kaspersky Lab follows the activity of cyberthreats, including such malware, which steals data using an overlay screen on real mobile banking apps and in the Google Play Store. Scammers Are Just A Tweet Away.

Phishing 41

Phishing Breach PayPal Database 41

PYMNTS

OCTOBER 7, 2020

The attacks are mostly prevalent across the healthcare and financial industries, he said, but the methods of attack are still primarily email phishing and phone calls. Scams have grown by triple-digit percentages as measured month over month. It’s social engineering at its worst, affirmed Ali.

Authentication 98

Authentication Use Case Phishing Contactless Payments 98

PYMNTS

AUGUST 3, 2017

Digital fraud was a new beast, and people didn’t know any better than to be tricked by phishing emails that today would raise red flags for even the most technologically illiterate consumers — sketchy email addresses, poor grammar and those classic sob stories from Nigerian princes, to name a few. has a chance to learn from the U.K.’s

Faster Payments 49

Faster Payments Authentication Phishing Payments 49

PYMNTS

AUGUST 18, 2017

17) it has discovered a new modification of the Faketoken Android Trojan, a mobile banking Trojan that can steal credentials from popular ride hailing applications. Kaspersky Lab announced Thursday (Aug. These apps are installed on millions of Android devices worldwide, making them attractive targets for hackers.

Phishing 40

Phishing Cybersecurity Credential Bank Card 40

The Fintech Times

JANUARY 17, 2024

When asked what kinds of fraud they were the victims of, the most common responses were: Credit card fraud (59 per cent) Identity theft and phishing (21 per cent) Employment scams (12 per cent) Investment fraud (10 per cent) “Millennials have embraced digital payments and mobile banking, which dominate how we access banking services today.

AI 59

AI Financial Crimes Crime Security 59

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Banking customers are affected by attacks ranging from phishing schemes to identity scams, and it is still up to FIs to provide accurate and real-time protection regardless of where their customers are located.

Online and Mobile Banking 65

Online and Mobile Banking Data Breach Breach Phishing 65

PYMNTS

OCTOBER 15, 2018

Nine minutes: the length of time it takes for a cybercriminal to use the data stolen from an online banking malware attack. 133,000: the average cost of a ransomware attack on a small business.

Ransomware 77

Ransomware Online and Mobile Banking Small Business Scams 77

FICO

AUGUST 26, 2021

From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows. Packaged real-time payments fraud ruleset.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

JANUARY 19, 2021

In financial services, in the eternal war to keep customers (and themselves) safe from online fraudsters, banks may lift a mantra from the real estate sector: It’s all about location, location, location. Geolocation services are proving to be a powerful weapon against phishing attempts, account takeovers and other schemes.

Online and Mobile Banking 90

Online and Mobile Banking Scams Addressing Account Takeovers 90

Payment Savvy

NOVEMBER 8, 2022

An EFT, or rather an Electronic Funds Transfer, is a type of digital payment between banks or banking institutions of a very broad description and is used by private individuals and businesses alike. For an ACH fraud, scammers need to acquire simply an account number and bank routing number.

ACH 98

ACH Payments Debit Card Online and Mobile Banking 98

PYMNTS

APRIL 4, 2019

In a recent interview with PYMNTS, Bangerter said serving students means offering on-the-ground outreach and extending mobile services to cater to busy schedules and digital habits. But thanks to mobile banking, many students who arrive on campus often already have bank accounts that they can use and monitor remotely.

Credit Union 43

Credit Union Online and Mobile Banking Credit Cards Non-Bank 43

Fintech Labs Insights

JUNE 24, 2016

Major update to Xero’s online invoicing technology to help businesses avoid phishing scams. TimeTrade brings its Banking by Appointment functionality to FIS’ mobile banking app. NCR releases updated version of its transactions processing solution, Authentic.

Online and Mobile Banking 15

Online and Mobile Banking Phishing Scams Authentication 15

PYMNTS

MAY 29, 2020

Financial institutions (FIs) have been working to cater to customers’ expectations of flexibility, but providing more banking channels gives cybercriminals new avenues through which to launch attacks.

Online and Mobile Banking 53

Online and Mobile Banking Assessments Accounts Duplicate 53

PYMNTS

AUGUST 21, 2017

The malware is known as the Faketoken Android Trojan , a mobile banking malware designed to steal credentials such as name, credit card number and CCV, amid other information. According to Kaspersky Lab, an old malware has gotten a new lease on life by hijacking credentials from ridesharing services.

Bitcoin 40

Bitcoin Credential Push-to-Card Blocks 40

Payments Source

NOVEMBER 14, 2018

Fifth Third Bank customers were swindled out of over $100,000, but not because the bank didn't have protection in place.

ATM 62

ATM Risk Security Phishing 62

FICO

MAY 19, 2020

Phishing emails for airfare refunds, charitable contributions, fake cures and vaccines, financial relief, federal emergency funds, and more will proliferate. Retail Banking Channels. There will, of course, be less use of the branch, more use of online/mobile banking. Examples include fake emails from CDC, WHO, and FEMA.

Account Takeovers 52

Account Takeovers Identity Theft Scams Online and Mobile Banking 52

Fintech Finance

APRIL 3, 2025

A groundbreaking partnership with Eika Gruppen, an alliance of 46 local banks in Norway, has shown how utilising the latest AI technology has the potential to cut drastically the billions lost to fraud and scams every year. ARIC is used to assess the risk of every payment initiated via online or mobile banking services.

AI 59

AI Fraud Prevention Value Added Service Phishing 59