Moody’s study highlights Entity Verification as critical for risk management
Organisations face greater challenges to understand who they do business with amid rising risks and evolving regulations, according to a new Moody’s survey and interviews with senior risk and compliance professionals. Moody’s study found that Entity Verification – a data-driven process that helps verify and authenticate the credentials of each entity a firm onboards or […]
Fraudulent UK banking transactions to total 38 million over next five years
A study from Juniper Research asserts that the number of fraudulent banking and money transfer transactions in the UK will increase 111% over the next five years, from 4.2 million in 2024 to 8.8 million in 2029. Despite the UK being one of the most technologically developed FDP (Fraud Detection & Prevention) markets, it anticipates additional measures, such […]
Research: European businesses ‘unprepared for increasing cyber attacks’
A Cloudflare study has revealed that 64% of business leaders, including the retail and financial services sectors, expect a cybersecurity incident in the next 12 months, but only 29% feel highly prepared to defend against them The report, called “Shielding the Future: Europe’s Cyber Threat Landscape Report” shares the latest data on how organisations are coping […]
Card payments in China to hit $20 trillion
The Chinese card payments market is expected to grow by 3.7% to reach CNY141.1 trillion ($19.9 trillion) in 2024, supported by a constant consumer shift towards non-cash payments. GlobalData’s Payment Cards Analytics reveals that card payments value in China reached CNY136.0 trillion ($19.2 trillion) in 2023, registering a healthy compound annual growth rate (CAGR) of 3.8% during […]
AI-powered malicious attacks are now a top emerging risk, says study
Concern about artificial intelligence (AI)-enhanced malicious attacks ascended to the top of the Gartner emerging risk rankings in the first quarter of 2024. “The prospect of malicious actions enabled by AI-assisted tools is concerning risk leaders worldwide,” said Gamika Takkar, director, research in the Gartner Risk & Audit Practice. “The relative ease of use and quality of […]
Spain continues trends towards digitisation of payments
The Spanish card payments market is forecast to grow by 8.9% to reach EUR402.6 billion ($435.4 billion) in 2024, supported by a constant consumer shift towards electronic payments. GlobalData’s Payment Cards Analytics, reveals that card payment value in Spain registered a growth of 22.5% in 2022, driven by a rise in consumer spending. The value is […]
‘One million attacks on global financial sector in 120 days’
BlackBerry’s latest Global Threat Intelligence Report has revealed threat actors focusing efforts on targeting high-value data held by the global financial sector, with one million attacks logged over the 120 day period. This “death by a million cuts” is revealed to be using mainly commodity malware, which indicates a large number of independent actors targeting […]
JD Power survey highlights biggest fraud concerns for US merchants
Small business owners in the US are optimistic about the future, with 88% of those surveyed indicating the financial state of their individual businesses is about the same or better off than a year ago, which in turn the research asserts should bode well for the prospects of merchant service providers. According to the J.D. […]
Open Finance and GenAI set to dominate FinTech and payments landscape in 2024
A Juniper Research whitepaper has revealed the 10 trends it believes are set to radically impact the fintech and payments landscape in 2024. The whitepaper found that the fintech market is undergoing a rapid shift, with the rise of new technologies, such as Open Finance, generative AI and A2A (account-to-account) payments having a major impact on […]
Online payment fraud losses to hit $91bn by 2028
Merchant losses from online payment fraud will exceed $362 billion globally between 2023 to 2028, with losses of $91 billion alone in 2028 as new technologies such as AI begin to be felt in the market. That’s according to a new report for ResearchAndMarkets, which analyses the repercussions of the surge in alternative payment methods, […]