Bryan Lewis, CEO of Intellicheck, has a stark take on just how severe the damage a fraudster can inflict with a few bits of information. “People don’t realize how easy it is to steal your identity. If I can get your social media account or...
The Federal Trade Commission (FTC) has reached settlements with three defendants, banning them from sweepstakes and prize promotions. These settlements resolve a complaint the FTC filed against Matthew Pisoni, Marcus Pradel and John Leon in 2015, alleging that they operated a sweepstakes scam that took...
Hackers who targeted Snowflake customers are reportedly demanding ransom payments ranging from $300,000 to $5 million from as many as 10 breached companies. The hacking group, known as UNC5537, accessed the Snowflake accounts of approximately 165 customers and stole valuable data, Bloomberg reported Monday (June 17). Austin Larsen,...
As more baby boomers and seniors go online to get their banking done — making payments, investing and paying bills or taxes — the fraudsters are finding elder abuse of a financial nature to be quite lucrative. Coming into 2024, the PYMNTS Intelligence report “How...
Network tokenization, a technology that replaces sensitive payment card data with unique digital identifiers, has been a hot topic of late. Long known as an effective eCommerce fraud fighter, it was a centerpiece of Visa’s series of announcements that brought merchants into the data token...
Payment infrastructure provider Mangopay introduced an artificial intelligence-powered anti-fraud tool. The French company’s Fraud Prevention solution is designed to protect against threats such as account takeovers by bots and humans, reseller fraud, payment fraud, chargebacks and return abuse, according to a Thursday (May 30) press...
According to a new report from the Reserve Bank of India (RBI), digital payments fraud in the country grew 14.57 billion rupees ($175 million) in the year ended March 2024 from a year ago. The rise in fraud comes as India increasingly embraces digital payments...
The Federal Trade Commission said it has been flooded with reports from consumers who have been taken in by scammers purporting to represent some of today’s leading companies. The FTC said Friday (May 24) that it received 52,000 consumer complaints in 2023 detailing scams where fraudsters claimed to represent Best Buy’s Geek Squad, which resulted in $15...
Ninety-five percent of eCommerce merchants have either already started enhancing their anti-fraud resources or plan to do so before the year is out. That is one key takeaway from “Fraud Management in Online Transactions,” a PYMNTS Intelligence collaboration with Nuvei that looks at the fraud-related challenges...
