‘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, […]
90% of online retailers losing money to policy abuse
Policy abuse–behaviours such as excessive returns, refund scams such as claiming an item was not received or returning empty boxes, abusing promotions like coupon codes or loyalty program rewards, or reselling limited-inventory items is soaring, with 90% of online merchants believing the issue is a significant problem for their bottom lines. That’s according to Riskified’s […]
Visa highlights AI threat in latest data
Visa’s latest Biannual Threats Report highlights a ‘significant’ rise of phishing schemes proliferated through generative AI tools, and a marked increase in enumeration and ransomware. While the global fraud rate trended lower than normal expected fraud levels during the report’s time period (January – June 2023), Visa shared that it helped to proactively block $30 […]
Demand for fraud detection solutions to drive market to $252bn
The fraud detection and prevention industry generated $29.5 billion in 2022, and is anticipated to hit 252.7 billion by 2032, equivalent to a CAGR of 24.3% over the forecast period. Analysis by Allied Market Research cites the introduction of big data analytics and cloud computing service, plus an upsurge in mobile payments, to bolster the […]
Top global payment companies generated $228bn in 2022
The global payments industry witnessed an exceptional 2022, despite the challenges posed by expansionary monetary policy, geopolitical uncertainties, pandemic-related supply chain disruptions, and a macroeconomic environment with heightened inflation and increased energy costs. That’s according to GlobalData, which says the top 20 public payment companies experienced a 15.5% increase in their top-line performance, reaching a […]
