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Banks and corporations need to invest to counter the myriad, relentless global threats of payments fraud.
Mercator Advisory Group reports that the growing global threat of cybercrime creates payments fraud risks that require ongoing investment.
Published on: December 12, 2018 Author: Steve Murphy Alternate Point of Contact: Amy Dunckelmann
In a new research report, Fighting Payments Fraud: No Rest for the Weary, Mercator Advisory Group provides up-to-date insights and data on key trends in data breaches and fraud threats and attacks as well as techniques for their prevention and mitigation. Payments fraud is one major symptom of the broader issue of cybercrime, but it can be controlled or minimized somewhat independently through planning, investing in monitoring and detection, and vigilance — in effect a relentless offensive and defensive counter to the myriad, ever-present, and growing chart of global threats.
“One does not have to look back very far to uncover some example of a major data breach since breaches occur so often (for example, the recently disclosed global hotel chain incident) leaving potentially mountains of personally identifiable information (PII) exposed to the bad guys,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service, author of the report. “Payments fraud is a direct symptom of this broader criminal cyber threat, since once a data breach occurs, fraudsters have opportunity to utilize the information necessary for carrying out various strategies to transfer value and wealth.”
This research report is 19 pages long and contains 7 exhibits.
Companies mentioned in this report include: Accertify, ACI Worldwide, The ai Corporation, Alert Logic, Axoni, BehavioSec, BlockCypher, BlueSnap, Bottomline Technologies, Chain, Cisco, CyberSource, DataRobot, Equifax, Evernym, Experian, Feedzai, FICO, First Data, FIS, Fiserv, Forter, GIACT, IBM, Identity Guard, Kount, LexisNexis, Marriott, Microsoft, MindBridge, NICE Actimize, Ponemon Institute, Punjab National Bank, Ravelin, RSA, Sift Science, Signifyd, Sophos, SWIFT, Symantec, ThreatMetrix, Trend Micro, TSYS, Visa, and Worldpay.
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