Today In Data

Today In Data: Going Big, Thinking Small

The marketplace of 2018 and its many opportunities are the favored fodder for optimists in the digital age. But a fast-growing world is a challenging one – particularly with fraudsters always waiting in the wings to make the costs of failure very high for those who fail to upgrade adequately. And as the world gets more connected – which it will – the opportunities for fraudsters to break into those connections only become more numerous. But for all the undeniable risks, the rewards are numerous and perhaps unexpected, as a more connected world is also allowing community-based organizations like credit unions  to connect more closely and credibly with their growing consumer base.

 

Data

$372 million: Estimated property damage (so far) from the Kilauea volcanic eruptions of 2018.

$625.3 million: What PwC was ordered to pay by a judge for failing to detect fraud between a client and a mortgage lender.

$1 trillion: Value of loan balances held by credit unions as of March 2018.

$6.2 trillion: The estimated worth of the global market for connected devices by 2025.

76 percent: Share of millennial consumers who report they are always looking to try new and different forms of banking, saving, payment and currency.

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Facebook is a giant in the ad game, with 2.3 billion active monthly users and $16.6 billion in quarterly advertising revenue. However, its omnipresence makes it a honeypot for fraudsters. In this month’s Digital Fraud Report, PYMNTS talks with Rob Leathern, Facebook’s director of product management, on how the site deploys automated systems and thorough advertiser vetting to close the lid on fraudster attempts.

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