Some people like being the center of attention, while others shy away from it. Either way, one thing is for certain: It’s never good to be in the spotlight of identity fraudsters. Synthetic identity fraud continues to rise, with the average synthetic ID profile netting $81,000 to $98,000 per incident. These attacks are responsible for
Do you want to play a game? If so, you may want to pay close attention to the other players and make sure your customers do the same. Some players may not be who they say they are. Fake users are after more than virtual points or moving up to the next level on your
Gone are the days when spam was an annoying email that we could ignore and place in a ‘junk’ folder. Now, tactics like callback spam aren’t just irritating; they can cause serious financial losses. These attacks are quickly evolving, so it’s important to understand the tactics and learn to stop them before they spiral out
Automated cyber-attacks are on the rise across industries and platforms, as fraudsters update old techniques to gain control of users’ machines for their own nefarious purposes. This article looks at botnet attacks-what they are, how they are used to conduct large-scale fraud, and how knowledge and best practices can help prevent account takeovers and widespread
Understanding the human side of fraud might be the most important aspect of digital security. Trusting in others is natural and something that we need to have a productive society-without it, our very way of life and everyday interactions cease to exist. But the human desire to trust is exploited every day by fraudsters using
As more of our financial and personal lives happen online, the incentives for fraud and theft continue to grow. While inelegant, brute force attacks to take over accounts continue to be effective and popular. In the last quarter of 2021 alone, brute force attacks increased a staggering 274%. These hacks are frustrating, time-consuming, costly and
Account takeover (ATO) plagues digital businesses and cause significant financial and reputational losses. This persistent and often sophisticated tactic affects individuals and industries across demographics and industries. According to Consumer Affairs, 72% of financial institutions reporting that account takeovers are their primary security concern. As more of our daily lives move online, ATO attempts are
Although most consumers are aware of traditional identity theft, many are unaware of the many techniques fraudsters use to steal millions of dollars from their accounts daily. According to a recent public service announcement, the Internet Crime Complaint Center received 1,611 SIM swapping complaints in 2021, an alarming increase from the reported 320 complaints from
Got a social security number? How about a name and address? With just a few pieces of personal information like these, a skilled fraudster can create a synthetic identity. Synthetic identity fraud is a crime where bad actors create fake identities by combining bits of real information, like valid social security numbers, with fake information,
Netflix’s latest true-crime documentary “The Tinder Swindler” has taken the internet by storm. The documentary chronicles the dating horror stories of three women who were defrauded by Simon Leviev, the alleged son of a billionaire and diamond tycoon. Leviev wined and dined his Tinder matches and shared his lavish lifestyle – private jets, caviar-filled meals,
Fake users infecting social networks, fintech platforms, and ecommerce sites is a problem growing at an alarming rate, and the costs are real. Recent Wall Street earnings highlight that fake users are more than a nuisance – they can damage your reputation and cause monumental financial and market value losses. Enterprises can no longer ignore
Verification and authentication have taken center stage of late in businesses’ efforts to validate digital identities of customers. The terms are often confused, but there is a difference. So, what are the main differences between verification and authentication, and what are the current trends surrounding them? We explain this and more in this article, providing