Today in data, online fraud continues to be a growing problem, with 81% of global organizations seeing increasing cyberthreats and 79% experiencing downtime because of an incident that hit during a peak time. While new strategies to stop fraudsters are evolving, nine in 10 consumers have been misidentified as bad actors because of various identity verification methods, including one-time passwords and other attributes of EMV 3.0 and PSD2. Yet, consumers are also part of the problem, with almost eight in 10 clicking on links from unknown senders.
Data:
400M: Authentication requests analyzed by Visa over the past two years
$5.5M: Amount Visa was able to recover in a recent scheme that targeted a cryptocurrency exchange
4.5M: Number of illicit accounts PayPal recently discovered and shuttered
1,885%: Increase in ransomware attacks against governments worldwide in 2021
78%: Percentage of people who click on unsolicited links
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