Payments fraud is one clear symptom of the greater cyber threats now plaguing the industrialized world.
New research from Mercator Advisory Group examines the increased global cyber threat, payments fraud, and how to manage the risks.
The Enemy at the Gates: Payments Fraud Is a Symptom
$2,950.00
Author: Steve Murphy
Published on: February 14, 2017
In a new research report, The Enemy at the Gates: Payments Fraud Is a Symptom, Mercator Advisory Group discusses the increased cyber threat faced by financial institutions and their clients and how that helps to create opportunities for payments fraud schemes. Payments fraud is a symptom of the broader issue of cybercrime, but it can also be somewhat independently controlled or minimized. In this report Mercator reviews the underlying issues around the global fraud threat and their relation to payments fraud and identifies actions that financial institutions and their clients can take to help manage the threat going forward.
“The cost of dealing with fraud incidents goes beyond the actual financial loss, with aftershocks ranging from client dissatisfaction to damaging reputational hits, something of particular concern to financial institutions given follow-on regulatory actions,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service and author of the report. “Managing the threat requires a series of actions including process controls and systems deployment to identify, prevent, and limit the damage.”
The report is 18 pages long and contains 6 exhibits.
Companies mentioned in this research note include ACI, BAE Systems, Cisco, CSC, CyberSource, Experian, FICO, FIS, Fiserv, Guardian Analytics, HPE, IBM, Intel, Microsoft, and Verizon.
One of the exhibits included in this report:
(Click to Enlarge)
- Reasons for the increased cyber threat and resulting potential economic impact
- A discussion of the extra costs associated with data breaches, going beyond actual financial losses
- Trends in payments fraud and reasons for the recent incidence uptick
- A view of the vendor landscape of technology and services solution providers
- Methods that companies can use to combat payments fraud, including using external partners
