Today In Data

Protecting eCommerce Merchants From Fraud

Protecting eCommerce Merchants From Fraud

Merchants have to participate in eCommerce if they want to maintain relevancy in today’s economy, but their engagement in online transactions also exposes them to new forms of fraud. Legacy security methods such as rules engines cannot keep pace with modern fraudsters, and artificial intelligence (AI)-based behavioral analysis, as well as better data sharing, are crucial to safer eCommerce. And in digital fraud, phishing poses a unique threat to businesses. All this, Today in Data.

Today in DataData:

90 percent: Portion of data breaches caused by phishing in 2019.

80: Approximate number of banks in Japan that joined JPMorgan’s blockchain-based interbank communications network.

72 percent: Share of global companies that have been victims of financial crimes.

63 percent: Portion of crypto exchanges examined in Q3 2019 that had weak KYC procedures.

$62.3B: Expected size of the global payment processing solutions market by 2024.