Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in which bad actors create fake identities using real details stolen from different consumers. The result...
More consumers are turning to the omnichannel offerings of banks and credit unions (CUs) as they follow stay-at-home mandates, and cybercriminals are eager to launch attacks that make use of these channels. Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem...
Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. This payment rail’s use is going strong in the United...
January 12, 2024
As instant payments become more widely used in the United States, the financial services ecosystem must gird for ever-more-brazen attacks from fraudsters. Nick Fleetwood, head of data services at Form3, said that there’s at least some reference to be gained from the United Kingdom, where there’s a relatively mature instant payments architecture in place as nearly […]
July 24, 2020
Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in...
