Payments News

On The Web

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Risk

U.S. Coronavirus Fraud Losses Near $100 Million As COVID Scams Double

“U.S. losses from coronavirus-related fraud and identity theft have reached nearly $100 million since the pandemic emerged in March, while complaints of COVID-19 scams have at least doubled in most states, a consumer protection group said on Tuesday. A report from the group, based on government data, highlighted the vast scope of a fast-growing criminal […]
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Reports

Thanksgiving Online Fraud Up 109 Percent Since 2014: Jumio

“Defining fraud as an attempt to manipulate government-issued IDs in order to create new online accounts, Jumio found an expected bump in fraud attempts during the busy holiday shopping period, with fraud jumping 22 percent compared to the year’s overall average. But the larger trend is much more worrisome, with Jumio reporting that online identity fraud […]
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Risk

2019 Data Breach Forecast Predicts Biometric Hacking

“It’s a timely warning in the wake of recent academic research suggesting that a number of fingerprint authentication systems could effectively be spoofed by AI-generated fingerprintsthat emulate highly common fingerprint features. Even highly sophisticated biometric authentication systems such as Apple’s 3D facial recognition system have been proven vulnerable to more elaborate hacking efforts. But effective countermeasures are always […]
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Risk

Voice Phishing Scams Are Getting More Clever

“Most of us have been trained to be wary of clicking on links and attachments that arrive in emails unexpected, but it’s easy to forget scam artists are constantly dreaming up innovations that put a new shine on old-fashioned telephone-based phishing scams. Think you’re too smart to fall for one? Think again: Even technology experts […]
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Risk

Think You’ve Got Your Credit Freezes Covered? Think Again.

“I spent a few days last week speaking at and attending a conference on responding to identity theft. The forum was held in Florida, one of the major epicenters for identity fraud complaints in United States. One gripe I heard from several presenters was that identity thieves increasingly are finding ways to open new mobile […]

On The Wires

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Risk

Experian Announces Breakthrough Solution in the Fight Against Synthetic Identity Fraud

“To combat a growing threat that’s expected to drive $48 billion in annual online payment fraud losses by 2023,1 Experian® today announced the launch of Sure Profile™. Experian is the first company with an offering to combat synthetic identity fraud that is integrated into the credit profile with market-leading assurance. With Sure Profile, Experian is putting “skin-in-the-game” […]