Financial institutions (FIs) were being hit by sophisticated attacks… and then COVID happened. In March, one U.S. bank alone experienced almost 750K takeover attempts. In 2019, 7,098 data breaches exposed over 15 billion user credentials, according to Risk Based Security, then skyrocketed to 8.4 billion users exposed in Q1 2020 – a 273% increase compared to Q1 2019. The stolen personally identifiable information (PII) is now available on the dark web for schemes such as account takeovers and credential stuffing
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They say necessity is the mother of invention. Unfortunately, it’s also a lure for opportunists looking to make a buck. And what better opportunity for online scams than a global pandemic? Sadly, COVID-19 is big business for those into online fraud. The first few months of 2020 have been unlike anything most of us have experienced. COVID-19 drove most people inside to work from home, or get laid off, and spend a lot of time on our devices waiting for 
Creating a better user experience for your new and existing customers to extend their lifetime value The purchase of goods has temporarily moved to the online world to help reduce the spread of the COVID-19 virus. Many companies selling physical goods have seen their online customer base grow at the same rate as their physical stores closed down. Even digital goods companies without physical stores are benefiting from the public’s new hunger for online entertainment, whether it’s watching movies, playing collaborative games, or using apps to talk to friends and family. Aside from 
When fraudsters use websites to run a batch of credit cards to find valid ones, it costs you more than a sale. The long-term effects can damage your reputation with customers and issuers. Credit card testing, also known as card cycling, is a sneaky way of validating stolen credit card credentials. It’s a simple scheme: Fraudsters find a website where they can make purchases with a small dollar amount, as these often go under the radar (donation platforms are common). 
When a simple request from a trusted person becomes fraud. Picture the scene: you get an email from your boss or relative asking if you can help them out. They happen to be working remotely when they need your help. They may want you to buy gift cards for staff prizes or make a purchase on their behalf because their card is not working. Fast forward to the final scene, featuring you out hundreds to thousands of dollars on your credit card, and the pretend boss or relative has accessed the money on the gift