Security News
The fraud detection and prevention market is expected to surpass $100 billion by 2027, as reported in a research study by Global Market Insights. The internal fraud type is anticipated to grow at over 25% CAGR between 2021 to 2027 due to the rising collusion among employees.
The global enterprise data loss prevention market is projected to grow at a CAGR of 21.03% to reach $6.265 billion by 2026, from $1.647 billion in 2019, according to ResearchAndMarkets. The increasing rate of data breaches along with other factors such as DLP as a service, DLP functionality extending into the cloud, and advanced threat protection against these data breaches are the major factors driving the enterprise data loss prevention market.
The global fraud detection and prevention market size is expected to reach $62.7 billion by 2028, registering a CAGR of 15.4%, according to ResearchAndMarkets. Thus, to mitigate these frauds, while securing customer as well as business data, the demand for fraud detection and prevention solutions is anticipated to witness an upsurge over the forecast period.
With multiple layers of security in place and biometrics as the central authentication factor, organizations have a future-proofed fraud prevention platform that offers protection against current threats-and whatever new threats the next crisis brings. Layered security involves combining fraud prevention measures like environment detection and anti-spoofing with multimodal biometrics, all underpinned by an AI-powered risk engine that aggregates data from the various layers to generate a risk score for any given customer engagement.
While organizations recognize third-party threats expose them to great risk, many organizations fail to take adequate measures to mitigate it. Current third-party risk prevention strategies leave organizations vulnerable.
Nation-state actors have a variety of extremely sophisticated means of getting into a system, of staying in a system, and when I say being quiet, being very hard to find, and then erasing their tracks. Then the hacker, since hackers are not really in the business of following up on their promises, will go and sell that data anyway.
Israel-based ecommerce fraud prevention company Riskified has announced the pricing of its initial public offering as it prepares to start trading publicly on the New York Stock Exchange. Riskified is offering 17,300,000 Class A ordinary shares at $21 per share, which means the company is hoping to raise more than $360 million.
CybelAngel announced the most comprehensive Data Breach Prevention in the Cloud service, offering unmatched scanning capabilities, detecting data leaking from the top three Cloud storage providers, AWS S3 Buckets, Google Cloud Storage and Azure Blob Storage. CybelAngel's announcement offers the opportunity to secure cloud infrastructures and monitor for data exposure better than ever before.
Signifyd announced the launch of its AI-powered Return Abuse Prevention solution, a customizable innovation that attacks a $43 billion problem by detecting return abuse and empowering merchants to provide friction-free refunds for valued customers while thwarting those seeking to game the system. Signifyd's Return Abuse Prevention solution gives merchants the flexibility to customize their return-abuse response according to the unique needs of their businesses.
Security researchers with threat intelligence firm Gemini Advisory say they have observed dark web activities related to bypassing 3D Secure, which is designed to improve the security of online credit and debit card transactions. Gemini's security researchers say that vulnerabilities in earlier versions of 3DS could have been exploited to bypass security.