Cybersecurity analysts forecast a perfect storm for quantum leaps in cybercrime, fraud and scams as lockdowns across the globe over the past couple of years have rippled into serious economic disruption while vastly expanding the number of people transacting, working and exchanging over digital channels.
In the first half of last year alone, criminals in the UK stole a total of £753.9 million through fraud, 30% more than H1 2020. Sure, the “advanced security systems” used by banks prevented a further £736 million from being taken. But we’re now at a point in which it’s like an entire unicorn company is being wiped from the UK’s economy annually.
Recently, the threat of fraudsters was upgraded from concern to “national security threat.” We hope to inspire everyone with renewed vigilance—that is: using the best tools in the industry to protect your business, your users and the payments and financial services markets.