A new study from Juniper Research reveals that online fraud losses are projected to surge from $44 billion in 2024 to $107 billion by 2029, marking a 141% increase. The report, titled Global Merchant Fraud Prevention Market 2024-2029, attributes this significant rise to the growing sophistication of attacks driven by advancements in AI technology. One major concern highlighted is the use of deepfakes to bypass verification systems, which the report identifies as a critical threat to the ecommerce landscape.
Organizations are facing increasing financial losses, estimated between $94 billion to $186 billion annually, due to vulnerable APIs (Application Programming Interfaces) and automated bot attacks, according to The Economic Impact of API and Bot Attacks report by Imperva, a Thales company.
A recent study from Juniper Research has revealed alarming growth in the projected losses due to online fraud, highlighting a significant challenge for businesses and consumers alike.
A foreign government is believed to have orchestrated a cyberattack on the Dutch police force, exposing the contact details of nearly 63,000 officers. The breach, which occurred on September 26, 2024, was a sophisticated operation targeting a specific police account.
Microsoft and the U.S. Department of Justice (DoJ) announced the seizure of 107 internet domains linked to Russian state-sponsored threat actors, used to carry out computer fraud and abuse.
Despite the indictment of one of its alleged members, the North Korean APT group known as Stonefly (aka APT45) continues to target U.S. companies, according to warnings from Symantec threat analysts. Stonefly, also referred to as Andariel and OnyxFleet, is linked to the Reconnaissance General Bureau (RGB), a North Korean military intelligence agency.
Source: Stanchion Payments
Stanchion, a global PayTech company and a pioneer of Payment Fabric Technology, announced today that it has joined the PCI Security Standards Council (PCI SSC) as a new Associate Participating Organisation.
Active Directory (AD), Microsoft’s widely used directory service for Windows domain networks, has become a common target in cyber intrusions due to its complex structure and permissive default settings.
