The number of fraud attempts and fraud traps is expanding rapidly in the digital world. The advent of AI and deepfakes also represent additional tools and attack vectors.
Consumers are constantly confronted with new scams and companies, for their part, must constantly fend off new waves of fraud or uncover them in good time. This is where service providers, payment processors and financial institutions have a duty, which leads to additional complexity and the defence against such fraud attempts is becoming increasingly difficult, as specialists and tools can hardly keep up with the pace.
To overcome the increasingly complex challenges, we can take an example from the developments in cyber security and how the shift in thinking from cyber defence to cyber resilience has taken place. Based on this, we will look together at what fraud resilience could look like in the future.