Payments News

On The Web

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Risk

Tech Unicorn Dave Admits to Security Breach Impacting 7.5 Million Users

“Digital banking app and tech unicorn Dave.com confirmed today a security breach after a hacker published the details of 7,516,625 users on a public forum. In an email to ZDNet today, Dave said the security breach originated on the network of a former business partner, Waydev, an analytics platform used by engineering teams.”
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Domains

Fake Businesses Are Fooling Real Banks Into Processing Online Drug Purchases

“One website advertised dog products. Another advertised flowers; another, home decorations. All of them were really fronts to process payments for marijuana or designer drugs, prosecutors said. The Justice Department and the Federal Trade Commission have recently brought a string of criminal and civil cases accusing individuals and companies of using legitimate-looking websites to deceive […]
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Risk

Stolen Credit Card Data Is Worth Much Less During the Pandemic

“Marketplaces, even cybercriminal ones, are subject to the laws of supply and demand. Like more reputable merchants, purveyors of stolen goods have been hit by the coronavirus pandemic. As COVID-19 ravaged the world this year—forcing businesses to close and people to stay at home—demand for stolen credit card data has dropped on dark web shops.”
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Risk

Crooks Abuse Google Analytics to Conceal Theft of Payment Card Data

“Hackers are abusing Google Analytics so that they can more covertly siphon stolen credit card data out of infected ecommerce sites, researchers reported on Monday. Payment card skimming used to refer solely to the practice of infecting point-of-sale machines in brick-and-mortar stores. The malware would extract credit card numbers and other data. Attackers would then […]

On The Wires

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Risk

ACI Worldwide and Arvato Financial Solutions Partner to Combat eCommerce Fraud

“ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced a strategic partnership with Arvato Financial Solutions to combat the rising levels of eCommerce fraud during the Covid-19 crisis. As part of the collaboration, ACI is offering Arvato Financial Solutions’ best-in-class Manual Order Review service to all its merchant fraud customers […]
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Risk

ACI Worldwide and Three UK Partner to Combat eCommerce Payments Fraud

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced it is extending its partnership with Three UK to combat eCommerce fraud, which has increased during the Covid-19 pandemic. The telco leader will enhance its online fraud management and prevention efforts by leveraging ACI’s award-winning fraud management offering ReD […]
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Risk

Accertify Launches Digital Identity Solution to Battle Increasing Account Opening and Account Takeover Fraud

“Accertify, Inc., a wholly-owned subsidiary of American Express, today announced the launch of a new solution designed to help organizations address the significant rise in fraudulent online account openings and account takeovers. Accertify Digital Identity is a sophisticated API-based solution that empowers organizations to trust and verify who is on the other side of a […]
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Reports

Federal Reserve System White Paper Examines Mitigation of Synthetic Identity Payments Fraud

“The Federal Reserve today released the latest in a series of publications about synthetic identity fraud – a white paper titled Mitigating Synthetic Identity Fraud in the U.S. Payment System. A synthetic identity is created by using a combination of real information (such as a legitimate Social Security number) and fictitious information (which can include […]
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Risk

Credorax Partners With Feedzai for Innovative Anti-Money Laundering Solution

“Today, licensed bank and smart payments provider, Credorax, and risk management platform Feedzai announced a new partnership to provide Credorax merchants with advanced anti-money laundering (AML) and anti-fraud capabilities, leading to increased payment security, reduced operational costs and an improved customer experience. The partnership between Credorax and Feedzai first began in 2018, when Credorax elected […]