webinar
How can you protect your business in 2024? Join ISMG and Telesign’s Surash Patel, VP of EMEA, as we cover:
- Online fraud trends observed in 2023
- Digital fraud predictions for 2024
- How the legislative regulatory landscape may impact financial crime fighting
- Tactics product managers, engineers, and fraud and risk managers use to identify and tackle financial crime
In the past three years, 27% of global companies suffered a data breach that cost them between $1M and $20M USD. Only 14% of companies reported that they did not experience a data breach. While the financial services, healthcare, and manufacturing industries are most prone, all industries are susceptible to the threat, and consequences, of breached data.
Unfortunately, the threat of fraudulent activity continues to grow, with 2023 setting new records for attacks and victims. Ransomware attacks, a leading fraud scheme, increased by 37% and cost victims an average of $5.3M to repurchase their data. To combat the threat of fraud, and their significant financial impacts, 51% of companies are planning to increase their investment in security protocols.