New Global Research from Accenture Interactive Urges CMOs to Put People Before Data Collection

New Global Research from Accenture Interactive Urges CMOs to Put People Before Data Collection

Nearly 69% of consumers would stop doing business with a brand if data usage became too invasive NEW YORK; Oct. 16, 2019 – New global research released by Accenture Interactive offers guidance to chief marketing officers (CMOs) on strategies to use data respectfully and responsibly
/
Wired

The biggest threat of deepfakes isn’t the deepfakes themselves

The mere idea of AI-synthesized media is already making people stop believing that real things are real. It was late 2018, and the people of Gabon hadn’t seen their president, Ali Bongo, in public for months. Some began to suspect that he was ill, or
/
trends-fintech

ThreatMetrix Quarterly Fintech Cybercrime Report 2017

Fintech Cybercrime Report 2017

ThreatMetrix has released its latest quarterly cybercrime report based on cybercrime attacks from October to December 2016, detailing trends across financial services and eCommerce, with a global study of traffic patterns and emerging threats.

Financial Services Key Trends

  • FFIEC mobile banking payment and guidance is forcing US financial institutions to better manage risk, while PSD2 has European financial service providers agitated. Furthermore, insider threats are notorious in many prominent financial service breaches.
  • Mobile usage for banking login and transacting is increasing rapidly with 55% of financial services transactions coming from mobile devices.
  • 80 million attacks were detected using stolen or fake credentials.
  • A 250% growth of financial service mobile transactions was noted year-on-year.
  • Banks are embracing mobile growth, and 55% of financial services transactions are mobile; Many banks are offering full-service apps, however, rejection rates for transactions are high.

eCommerce Key Trends for 2016

  • A higher volume of cross-border transactions is noted with the global village economy gaining strength and popularity. A severe disadvantage is an increase in online fraud.
  • With a 51% increase in transactions blocked year-on-year and twice as many transactions rejected as processed, systems are working overtime to protect users from threats.
  • Up to 90% of some retailers’ traffic is attributed to Bot attacks.
  • 75 million transactions were rejected this quarter with rejections of 11% of account creations, 6.4% of account logins, and 5.1% of payments.

The Threat Landscape

  • The US, UK, Germany, France and Brazil feature in the top five attacking nations, but emerging economies such as India, Qatar, Morocco, and Tunisia are showing strong attack growth too.
  • Strong attacking economies tend to attack similar economies.
  • In the last quarter, identity spoofing persisted in FinTech with a slow but steady growth in device spoofing and a slight decline in IP spoofing and Bots.
  • Digital mobility of global connected users increased with a quarter of transactions cross-border.
  • Device spoofing remains a top threat.
  • Mobile transaction grew globally by 130% year-on-year with highlights in both developing and developed countries.

Keeping the digital world safe and secure is an increasingly difficult job; security experts are relying on holistic approaches to digital identities to differentiate fraudsters from legitimate customers, and pulling in innovative applications of behavioral analytics and machine learning to better identify high-risk behavior.

By Jennifer Klostermann

Technology Writer
Jennifer Klostermann is an experienced writer with a Bachelor of Arts degree majoring in writing and performance arts. She has studied further in both the design and mechanical engineering fields, and worked in a variety of areas including market research, business and IT management, and engineering. An avid technophile, Jen is intrigued by all the latest innovations and trending advances, and is happiest immersed in technology.
The Cloud Debate - Private, Public, Hybrid or Multi Clouds?

The Cloud Debate – Private, Public, Hybrid or Multi Clouds?

The Cloud Debate Now that we've gotten over the hump of whether we should adopt the cloud or not, "which cloud" is now the center ...
Bryan Doerr

Cyber-Threats and the Need for Secure Industrial Control Systems

Secure Industrial Control Systems (ICS) Industrial Control Systems (ICS) tend to be “out of sight, out of mind.” These systems are essential to life in ...
Choosing IaaS or a Cloud-Enabled Managed Hosting Provider?

Choosing IaaS or a Cloud-Enabled Managed Hosting Provider?

Cloud-Enabled Managed Hosting Provider We are all familiar with the old saying “That's like comparing apples to oranges” and though we learned this lesson during ...
Vibhav Agarwal

Principles of an Effective Cybersecurity Strategy

Effective Cybersecurity Strategy A number of trends contribute to today’s reality in which businesses can no longer treat cybersecurity as an afterthought. These include a ...
Aaron Continelli

Cloud-Based or On-Premise ERP Deployment? Find Out

ERP Deployment You know how ERP deployment can improve processes within your supply chain, and the things to keep in mind when implementing an ERP ...
It Programs Compressor