• Latest

Records Stolen In Data Breaches Increase 60%

April 8, 2021
Friendly Chargeback Fraud: What It Is and How to Stop It

Dark Web Price Index 2022 Released

June 30, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: How to choose an e-commerce fraud solution in 2022 and beyond

June 29, 2022
These Main Order Variables Indicate Fraud—But How Can We Tell Fraud From Good Customer Behavior?

How to Reduce Chargeback Risk

July 3, 2022
How Ecommerce Stores Can Minimize Cloud Computing Cyberseucrity Risks

Commercial Real Estate Cybersecurity

June 27, 2022
Anti-phishing working group reports 1,000,000+ phishing attacks in Q1 2022

Anti-phishing working group reports 1,000,000+ phishing attacks in Q1 2022

June 23, 2022
Is PSD3 on the horizon? EU Commission Begins Public Consultation.

Is PSD3 on the horizon? EU Commission Begins Public Consultation.

June 17, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: A former FBI Special Agent and CIA Cyber-Operations Officer discusses IT security and cyber terrorism

June 14, 2022
Everything You Need To Know About PSD2 Requirements

Everything You Need To Know About PSD2 Requirements

June 13, 2022
One in four U.S. consumers impacted by identity theft in 2021, Aite-Novarica consumer survey finds

One in four U.S. consumers impacted by identity theft in 2021, Aite-Novarica consumer survey finds

June 10, 2022
Apple Adds Buy Now Pay Later Option to Apple Pay Wallet

Apple Adds Buy Now Pay Later Option to Apple Pay Wallet

June 9, 2022
What is Formjacking?

What is Formjacking?

June 9, 2022
The App Store stopped nearly $1.5 billion in fraudulent transactions in 2021

The App Store stopped nearly $1.5 billion in fraudulent transactions in 2021

June 2, 2022
  • Contribute
  • Contact Us
  • About
  • Join Us
  • Advertise
Monday, July 4, 2022
Merchant Fraud Journal
  • Home
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Resources
    • Recorded Webinars
    • Podcasts
    • Vendor Directory
    • eCommerce Fraud Reports
    • Training and Certifications
    • Jobs Board
    • Associations and Non-Profits
  • News
No Result
View All Result
  • Home
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Resources
    • Recorded Webinars
    • Podcasts
    • Vendor Directory
    • eCommerce Fraud Reports
    • Training and Certifications
    • Jobs Board
    • Associations and Non-Profits
  • News
No Result
View All Result
Merchant Fraud Journal
No Result
View All Result

Records Stolen In Data Breaches Increase 60%

by Bradley
April 8, 2021
in News

TBIT / Pixabay

The U.S. Payments Forum released a new Market Snapshot, which includes new data about recent eCommerce fraud prevention trends, the company said in a press release.

Despite increased awareness and investment in fraud prevention, the impact card not present fraud continues to grow. Although the absolute number of data breaches declined year-over-year from 2019-2020, the total number of records stolen significantly increased.

“Accertify observed that while the overall number of data breaches were down last year, according to privacyrights.org, the total number of records breached were up 50-60%,” the release said. “Large contributors to these breaches were social engineering schemes such as phishing and smishing, often motivated by government stimulus checks and other financial targets.”

The reason for the increase is largely attributed to synthetic identity fraud. There is a lucrative market on the dark web for stolen personally identifying information, increasing opportunities for fraudsters. Companies increased fraud prevention measures and the use of eCommerce fraud prevention solutions, but so far continue to struggle.

“With synthetic identity fraud on the rise, the industry is looking to stronger authentication measures to improve identity validation at time of account opening and to techniques like EMV 3DS and tokenization to improve authentication and security during transactions,” the release said. “Artificial Intelligence has also seen increased interest for seamless security, as it can identify fraudulent online transactions based on predictive pattern matching.”


Source: https://www.uspaymentsforum.org/us-payments-forum-market-snapshot-industry-works-to-secure-e-commerce-transactions-touchless-is-here-to-stay-and-emv-at-the-pump-moves-forward/

Tags: Account Takeover FraudData BreachSynthetic Identity Fraud
ShareTweetShareSend
Previous Post

New Podcast: An Inside Job at the Post Office (Pt. 1)

Next Post

Win all “Credit Not Processed” PayPal Disputes with these Simple Hacks

Next Post

Win all "Credit Not Processed" PayPal Disputes with these Simple Hacks

Our Sponsors

Our Latest Report

Get the 2022 Fraud Trends Report

MFJ 2022 Fraud Trends Report

Search Our Site

No Result
View All Result

Featured Directory Listings

  • Spotrisk
  • SEON. Fraud Fighters
  • sift logo
    Sift
  • Pipl
  • nSure.ai logo
    nSure.ai
  • logo
    NoFraud
  • PayRetailers
  • Ekata
  • Microsoft Dynamics 365 Fraud Protection

Our Sponsors

Fraud Industry News

Friendly Chargeback Fraud: What It Is and How to Stop It

Dark Web Price Index 2022 Released

June 30, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: How to choose an e-commerce fraud solution in 2022 and beyond

June 29, 2022
These Main Order Variables Indicate Fraud—But How Can We Tell Fraud From Good Customer Behavior?

How to Reduce Chargeback Risk

July 3, 2022

Connect With Us

Quick Navigation

  • Home
  • News
  • Join Us
  • About Us
  • Contact Us
  • Advertise
  • Contribute
  • Privacy Policy

Privacy Policy

Our Privacy Policy
Our Terms of Use

Resources

  • Articles
  • eCommerce Fraud Reports
  • eCommerce Fraud Webinars
  • Training and Certifications
  • Jobs Board
  • Associations and Non-Profits
  • Podcasts
  • Vendor Directory

Popular Posts

  • How Does Two-Factor Authentication (2FA) Work?

    How Does Two-Factor Authentication (2FA) Work?

    0 shares
    Share 0 Tweet 0
  • How to File a Claim With FedEx + What To Do If Claim is Denied

    0 shares
    Share 0 Tweet 0
  • Top eCommerce Fraud Prevention Companies

    0 shares
    Share 0 Tweet 0
  • Ebay PayPal Scam Strikes Merchants

    0 shares
    Share 0 Tweet 0

Featured Vendors

  • nSure.ai
  • NoFraud
  • SEON. Fraud Fighters
  • Pipl
  • PayRetailers
  • Spotrisk
  • Ekata
  • Sift
  • Microsoft Dynamics 365 Fraud Protection

Download the 2022 Fraud Trends Report

No Result
View All Result
  • About Merchant Fraud Journal
    • Advertise on Merchant Fraud Journal
    • Interested in Contributing or Guest Posting to Merchant Fraud Journal?
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Contact Us
  • Download Addressing Payment Fraud and Customer Experience Report
  • Download Evolving Complexities of Payment Fraud Report
  • Download the 2020 Chargeback and Representment Report
  • Download the 2020 Merchant Fraud Journal Vendor Guide
  • Download the 2021 Fraud Trends Report
  • Download the 2022 Fraud Trends Report
  • Download the 3 Ways a Unified Chargeback Management and Fraud Platform Increases Revenue Report
  • Download the MFJ 2022 Customer Experience Report
  • Download the MFJ ATO in Retail Report
  • Home
  • Job Dashboard
  • Join The Merchant Fraud Journal Community
  • Merchant Fraud Journal Advertising Agreement
  • MFJ Fraud Trends Report Giveaway
  • News
  • Post a Job
  • Privacy Policy
  • Resources
    • 2020 Chargeback Representment Guide for Merchants
    • 2020 Vendor Guide
    • 3 Ways a Unified Chargeback Management and Fraud Platform Increases Revenue
    • Addressing Payment Fraud and the Customer Experience in 2022
    • Associations and Non-Profits
    • ATO Fraud In Retail Report
    • Balancing Customer Experience and Fraud Prevention: What’s the Secret?
    • Digital Trust & Safety: Combating the Evolving Complexities of Payment Fraud
    • eCommerce Fraud Reports
    • eCommerce Fraud Webinars
    • Fraud Prevention Training and Certifications
    • Jobs Board
    • Merchant Fraud Journal’s Fraud Trends 2020 Report
    • Merchant Fraud Journal’s Fraud Trends 2021 Report
    • Merchant Fraud Journal’s Fraud Trends 2022 Report
    • MFJ’s 2022 Customer Experience Report
    • Podcasts
    • Prevent High-Velocity Fraud Attacks During the 2021 Holiday Season
    • Vendor Directory
    • Webinar – Addressing Payment Fraud and the Customer Experience in 2022
    • Win January Chargeback Disputes
  • Subscribed
  • Terms and Conditions

© 2021 Payments Media Solutions Canada Inc.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
[class^="wpforms-"]
[class^="wpforms-"]