PYMNTS

MARCH 20, 2020

Fraud attacks’ frequency and complexity will likely continue to rise despite merchants’ best efforts to prevent them. The Latest Fraud Decisioning Developments. The United Kingdom’s RELX , an information and analytics firm, has meanwhile purchased fraud prevention firm Emailage to boost its own anti-fraud efforts.

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PYMNTS

OCTOBER 1, 2019

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. Online shopping fraud reports include complaints about items that are never delivered or are not as they were advertised.

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PYMNTS

JANUARY 21, 2020

Advances in fraud decisioning have cybercrooks scrambling into the new arcana of synthetic identities and fiendish mass bot attacks, looking for any possible opening to exploit. Some industries are more prone than others, as we discovered in the latest Fraud Decisioning Playbook , a PYMNTS and Simility collaboration.

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PYMNTS

OCTOBER 1, 2019

A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. Online shopping fraud reports include complaints about items that are never delivered or are not as they were advertised.

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Independent Banker

OCTOBER 1, 2022

Financial fraud and cyber attacks aren’t a one-age-fits-all scenario. Community banks can find ways to mitigate age-related fraud through technology, as well as by educating their customers of their particular risks. We look at community banks’ options for fighting this type of crime. By Katie Kuehner-Hebert. Rehman Khan, Travelers.

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PYMNTS

OCTOBER 29, 2018

29) by Kaspersky Labs and the University of Oxford Functional Neurosurgery Group noted, the technology is quickly gaining ground. But those gains come with fresh concerns about digital security. Security Vulnerabilities. The main areas of security risk? As a research report released on Monday (Oct.

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PYMNTS

AUGUST 20, 2019

Instagram is inviting a group of security researchers known as white hat hackers to stress-test its Checkout feature before it launches outside the United States. The social media giant previously gave a select group of researchers early access to FB5, which is the site’s redesigned look that it unveiled earlier this year.

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CFPB Monitor

JULY 19, 2022

On July 13, 2022, the House Committee on Oversight and Reform, Subcommittee on National Security held a hearing entitled “Protecting Military Servicemembers and Veterans from Financial Scams and Fraud.” Malini Mithal testified that the FTC received over 200,000 reports of military fraud in 2021, totaling over $267 million in losses.

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Bank Innovation

APRIL 20, 2016

Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. A common attack against a Read More.

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PYMNTS

JANUARY 1, 2021

As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. In China, of course , Ant Group is reportedly being told to switch focus back to payments business. The acts had been widely anticipated and give new frameworks for commerce and content. which of course is Brexit-ing the EU).

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PYMNTS

JANUARY 17, 2020

Subscription’s promises of recurring revenue streams for companies and convenience for customers offer powerful benefits, but an unwelcome group is also subscribing to such services: fraudsters. Preventing fraud with seamless and secure onboarding solutions is key. million fraud reports in 2018, resulting in $1.48

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PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 COVID-19-Related Fraud. Secret Service.

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PYMNTS

MARCH 8, 2019

Twitter isn’t the only social media site looking to boost its privacy measures. The social media giant has been under fire since it was revealed that the site was used to gather details on as many as 87 million users, and the data was then shared with Cambridge Analytica , a U.K. And while the stock has gained 4.8

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Insights on Business

FEBRUARY 13, 2019

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry. Phishing attacks.

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PYMNTS

DECEMBER 12, 2018

The hackers targeted 87 entities using phishing methods through social media. The attack could be linked to the Lazarus Group , a collective of cybercriminals that’s been associated with North Korea, as the source code of the attack drew from the group’s 2015 hack of South Korea. Samani said. “In and Russia.

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PYMNTS

JANUARY 25, 2021

Yitz Mendlowitz, founder and CEO of PAAY , shares his insights on how the pandemic has impacted small businesses, and what they should do in the year ahead to prevent fraud and survive in the new digital economy. With an effective fraud prevention solution, businesses can successfully adapt. retailers incur $3.13

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NCR

JULY 31, 2017

As we explored in the first part of this two-part guide, digital banking fraud is an escalating threat to financial institutions and their customers. Digital banking fraud can take many forms, such as identity fraud and account takeover , which are becoming increasingly common. million in 2016. million in 2016.

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PYMNTS

OCTOBER 14, 2016

One firm, IdentityMind Global, provides real-time risk management and fraud prevention through “digital identities,” collecting data across dozens of parameters and separating the financial ecosystem into good actors — those deserving of trust (and completed transactions) — and, well, bad actors.

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PYMNTS

OCTOBER 18, 2018

consumers among four age groups: Linksters (ages 18-23), Socializers (24-34), the MTV Generation (35-54), and Maturists (55+). Advances in technology are opening new opportunities for fraudsters to obtain PII, and businesses must proactively respond by implementing technology solutions that keep consumer data safe and secure.”.

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Accenture

OCTOBER 3, 2017

But much of it originated from the group of voracious digital competitors circling banks’ traditional territory. Based on this survey of over 2,000 consumers, it’s clear that online retailers, tech firms and social-media players face an uphill battle to convince consumers to allow them access to their financial data. So why not?

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PYMNTS

JUNE 11, 2019

In fact, a recent study found that cell phone numbers were the fifth-most-important part of respondents’ identities, following Social Security numbers, driver’s licenses, dates of birth and home addresses. Deep Dive: Balancing Security and Convenience in Digital Identities. Developments from around the Digital Identity World.

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PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. That’s according to the U.S.

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PYMNTS

DECEMBER 30, 2019

Microsoft is suing a mysterious North Korean hacking group called Thallium for allegedly stealing sensitive information, according to reports. The hacking reportedly targeted groups and networks that contained information on nuclear proliferation and human rights. According to the lawsuit, which was filed on Dec.

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NCR

JANUARY 4, 2018

There are many actions financial institutions can take to strengthen their defenses against fraud , such as equipping themselves with the latest machine learning and analytics solutions to identify threats before they have a major impact. However, it’s often said that the weakest link in the banking security chain is the customer.

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PYMNTS

MAY 8, 2019

The blockchain group is reportedly working on a stablecoin , which is a digital currency tied to either one or a group of traditional currencies, something that would make it less susceptible to swings in prices. Tomer Barel, who spent almost 10 years watching risk and fraud for PayPal, was also hired.

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PYMNTS

MAY 16, 2019

Members of the group located in Bulgaria and Ukraine then took control of victims’ online bank accounts and stole money out of their accounts. Cybercriminal groups aren’t only using phishing emails to trick users. Through its research, Talos discovered 74 groups that had about 385,000 members.

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PYMNTS

APRIL 27, 2016

Can the data trapped in “Digital Exhaust” – like online and social media data – be used to validate identity and predict fraud? Suppose you could build a model that would help financial institutions of any kind fill in those gaps with online and social data that could make thin files thick without increasing their risk?

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PYMNTS

DECEMBER 5, 2017

He conspired with a group of other hackers who would hack into companies to steal passwords and other sensitive data to gain access to corporate bank accounts. Senate Intelligence Committee has also raised alarms about Russian social media bots’ alleged influence over the U.S. Mollachiev, who spent money stolen from U.K.

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PYMNTS

JANUARY 30, 2020

Another hair in the soup is Generation Z’s increasing preference toward social media marketplaces that eschew established eCommerce platforms entirely, forcing these businesses to change tactics. The new law was hailed by labor groups but came under fire from Uber, Lyft and other gig economy companies. About the Playbook.

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PYMNTS

JULY 10, 2019

Despite the pervasiveness of digital identity in everyday life, concerns surrounding digital ID security continue to make headlines, with billions of dollars lost to fraud. Switzerland’s Jura Hospital is currently testing a 3D finger vein scanner to more effectively secure patient data. Find the feature story in the Tracker.

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PYMNTS

JULY 23, 2019

The social media giant is now compelled to address a growing number of fabricated exchanges associated with its digital asset, The Washington Post reported on Tuesday (July 23). A growing list of websites, as well as Facebook pages and groups, claim to sell Libra tokens on Facebook and Instagram.

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PYMNTS

OCTOBER 18, 2019

In the United States, according to some sources such as Javelin , more than one million children were victimized by identity theft — and the fraud costs their families more than $540 million. In an interview with Karen Webster, Zac Cohen, general manager of Trulioo , said kids’ Social Security numbers represent a relatively easy target.

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PYMNTS

JUNE 5, 2019

Think of the Apple iPhone, and thoughts are likely to turn to matters involving social media, selfies, family photos, mobile commerce and even payments. But cryptos have done a great job of acting as conduits to all sorts of fraud. The same model held true for Eagle Financial Diamond Group. Targeting Dead People.

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PYMNTS

DECEMBER 24, 2020

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Keeping An Eye On Fraud. And, while terrorist use of cryptocurrency is still evolving, certain terrorist groups have solicited cryptocurrency donations running into the millions of dollars via online social media campaigns.”.

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PYMNTS

DECEMBER 31, 2019

In data coming into the end of the year, Risk Based Security said hackers had accessed 7.9 According to reports and as noted in this space, the data reportedly may have been accessed through manipulation of the social media giant’s API. Data compromised included email addresses, Social Security numbers and bank information.

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PYMNTS

JUNE 19, 2020

based Kaitlyn Pan Group LLC and New York resident Hao Pan for allegedly counterfeiting Valentino’s Garavani Rockstud shoes and offering them for sale on its own website as well as on Amazon. That’s led to the removal of more than 7,000 listings on several marketplaces, more than 360 websites and over 1,000 social media accounts.

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PYMNTS

SEPTEMBER 13, 2017

Reuters reported that the Beijing First Intermediate People’s Court sentenced Ding Ning – chairman of Anhui Yucheng Holdings Group, which rolled out Ezubao in 2014 – to life in prison. million for a bevy of crimes, including engaging in fraud fundraising, illegally possessing a gun and smuggling precious metals.

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