Are deepfake fraud risks overhyped? Where enterprises are exposed

Are deepfake fraud risks overhyped? Where enterprises are exposed

Deepfakes are the hot new enterprise risk. British engineering group Arup lost $25 million recently after scammers used AI deepfakes to falsely pose as the group’s CFO and request transfers from an employee to fraudulent bank accounts.  But will deepfakes become the number one avenue for fraudsters to steal money? Likely not. There are far more common and pervasive cyber fraud attack methods, specifically business email compromise (BEC) schemes. Data shows that 83% of companies…

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Nearly 90% of businesses saw up to 9% of revenue lost due to fraud

Nearly 90% of businesses saw up to 9% of revenue lost due to fraud

A new survey by Veriff has shown that fraud attempts have increased this year, contributing to financial repercussions. Almost 90% of respondents report that their organization saw as much at 9% of revenue lost as a result of fraud. This suggests that companies making $100 million per year could potentially lose $9 million annually from fraud.  Key findings from the survey include:  Nearly 87% report a rise in online fraud as of April 2024. Only 1.19%…

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Financial fraud prevention strategies

Financial fraud prevention strategies

Financial fraud prevention strategies | Security Magazine This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more. This Website Uses CookiesBy closing this…

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COVID-19 pandemic causes increase in fraud threats

COVID-19 pandemic causes increase in fraud threats

COVID-19 pandemic causes increase in fraud threats | Security Magazine This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more. This Website Uses…

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Maintaining access control for employees and preventing new hire fraud

Maintaining access control for employees and preventing new hire fraud

Maintaining access control for employees and preventing new hire fraud | 2021-08-20 | Security Magazine This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn…

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The state of loss prevention and asset protection

The state of loss prevention and asset protection

The state of loss prevention and asset protection | 2021-05-13 | Security Magazine This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more. …

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