Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. But to beat highly organized fraudsters at their own game, financial institutions (FIs) must band together to build an ironclad defense, says Chris Tremont,...
Cybercrime is a constant concern for banks, credit unions and other financial institutions (FIs), with more than 25 percent of all malware attacks targeting the financial industry specifically. Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased...
Petabytes of compromised personal information and card data are being commoditized for sale on the dark web, ushering in an era of what’s being called “industrial-scale account takeover” (ATO). The problem is growing as more commerce moves online — and is exposed. Get the Full...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
Much has been said about the viability of biometrics for guarding against bad actors, but financial institutions (FIs) cannot simply assume that all of their customers want to use such tools. In the latest FI Fraud Decisioning Playbook, Ryan Leblond, manager of fraud prevention for...
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Consumers’ commerce patterns have been very much upended in the past few months and shifted heavily to digital. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
Partnerships of legacy financial institutions (FIs) and FinTechs are bringing forth some of the coolest experiences in banking. It’s a trend exemplified by open banking — the European invention that’s circling the globe, making news and putting some flash back into money. Get the Full...
Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and...
