Identity Theft

Identity theft is the deliberate use of someone else's identity, usually as a method to gain a financial advantage or obtain credit and other benefits in the other person's name, and perhaps to the other person's disadvantage or loss.

Source: consumer.ftc.gov

PYMNTS Intelligence: Leveraging Technology to Combat Identity Fraud
PYMNTS Intelligence: Leveraging Technology to Combat Identity Fraud
November 04, 2022  |  Fraud Prevention

A recent study found that businesses lost $52 billion to identity fraud in 2021, a shocking 79% increase year over year. This fraud was split...

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Preventing Identity Fraud Comes Down to Effective Use of Data
Preventing Identity Fraud Comes Down to Effective Use of Data
November 02, 2022  |  Fraud Prevention

Identity fraud has been growing in recent years and had a notable increase in 2021. Identity theft alone accounted for $56 billion in losses that...

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How Synapse Ensures A Smooth And Secure Authentication Experience Via Behavioral Analytics
How Synapse Ensures A Smooth And Secure Authentication Experience Via Behavioral Analytics
August 01, 2022  |  Authentication

User authentication is a critical tool for any organization that deals in personal or financial information, as identity theft runs rampant in the modern business...

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71% Of Businesses to Add Transaction Alerts, ID Verification to Anti-Fraud Strategies
71% Of Businesses to Add Transaction Alerts, ID Verification to Anti-Fraud Strategies
February 24, 2022  |  Fraud Prevention

Recent data from PYMNTS shows many companies aren’t accepting new business due to a fear of potential fraud. The reasoning behind their hesitance may be...

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Had It With Passwords? Two-Thirds of Consumers Are Done With Antiquated Authentication
Had It With Passwords? Two-Thirds of Consumers Are Done With Antiquated Authentication
February 14, 2022  |  Authentication

The increased global penetra­tion of mobile devices has transformed how consumers transact with their preferred financial institutions (FIs), merchants and service providers. As consumers’ lives...

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PYMNTS Intelligence: The Problems of First- and Third-Party Fraud in the Digital Ecosystem
PYMNTS Intelligence: The Problems of First- and Third-Party Fraud in the Digital Ecosystem
February 08, 2022  |  Fraud Prevention

Digital fraud is a constant threat to banks, businesses, government entities and individuals, and its volume and costs continue to expand, despite the best efforts...

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BOXX Insurance Teams With Equifax for Identity Theft Protection
BOXX Insurance Teams With Equifax for Identity Theft Protection
December 07, 2021  |  Safety and Security

Cyber insurer BOXX Insurance is teaming up with Equifax to offer $1 million in identity theft protection coverage as holiday shopping gears up for record...

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Digital IDs Make the Great Grocery Balancing Act Possible
Digital IDs Make the Great Grocery Balancing Act Possible
November 01, 2021  |  Authentication

Restaurants and supermarkets are under pressure to deliver food quickly, making it essential to have accurate, real-time online fraud filters and payment security tools to verify...

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Deepfakes Challenge Existing Identity Verification Tech
Deepfakes Challenge Existing Identity Verification Tech
October 21, 2021  |  Security & Fraud

Hollywood-style image manipulation that used to require a huge investment and a team of talented people with above-average expertise can now be attained by anyone...

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