PYMNTS-MonitorEdge-May-2024

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

Symantec: Formjacking Is Cybercriminals’ Newest Scam
Symantec: Formjacking Is Cybercriminals’ Newest Scam
February 20, 2019  |  Security & Fraud

With cybercriminals not making as much from ransomware and cryptojacking, they have been focusing more on a strategy called “formjacking” to raise cash. That’s according...

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The Inverted Approach To Tackling Fraud
The Inverted Approach To Tackling Fraud
February 20, 2019  |  Today In Data

Banks, financial institutions (FIs) and other firms are grappling with a flood of application fraud and identity theft. In other news, customers see self-service kiosks and online...

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Inverting The Fraud Approach: Fraudsters Can Check In, But Never Leave
Inverting The Fraud Approach: Fraudsters Can Check In, But Never Leave
February 20, 2019  |  Security & Fraud

A single data breach in 2017 exposed 143 million Americans’ credit details and personal information, and incidents that occurred a year later hit companies like...

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Fraud’s New Paradigm: Let Fraudsters In, But Never Let Them Leave
Fraud’s New Paradigm: Let Fraudsters In, But Never Let Them Leave
February 19, 2019  |  Security & Fraud

Fraud is rampant and thriving. With a wealth of stolen credentials to pick from in the wake of several data breaches that comprised the identities...

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FTC Seeks Input On ID Theft Prevention Rules
FTC Seeks Input On ID Theft Prevention Rules
December 04, 2018  |  Regulation

The Federal Trade Commission announced Tuesday (December 4) it is seeking comment on whether the agency should make changes to rules requiring financial institutions and...

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Today In Data: Driving A Digitally Determined World
Today In Data: Driving A Digitally Determined World
October 22, 2018  |  Today In Data

In an average week, the average consumer spends about 24 hours online – exactly 1/7 of their time. They use their phones to order food and to decide...

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To Fight Fake IDs And Online Fraud, Know Thy Enemy Better
To Fight Fake IDs And Online Fraud, Know Thy Enemy Better
October 19, 2018  |  Fraud Prevention

To really beat someone, or something, one must respect and understand that person or organization, even if they dislike or loathe them. That’s ancient wisdom...

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Fraudsters Accused In $364M Ponzi Debt Scheme
Fraudsters Accused In $364M Ponzi Debt Scheme
September 20, 2018  |  Legal

Federal prosecutors have charged three men who allegedly ran a $364 million Ponzi scheme. According to Reuters, the men — Kevin Merrill of Maryland, 53,...

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Fake ID Docs Sold On Websites Targeted By Feds
Fake ID Docs Sold On Websites Targeted By Feds
September 19, 2018  |  Fraud Prevention

Discussions about ID theft often involve hackers and cyberattacks gaining access to consumer and payment data. But action from the U.S. Federal Trade Commission (FTC)...

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