Key Trends in the Shifting Threats to Payments as Blended Commerce Returns
summary
Visa shows concrete shifts: LLMs like ChatGPT boost phishing quality and scale, brute‑force bots validate 6,000 credentials in hours leading to ~$1M fraud, and ransomware‑as‑a‑service and API attacks hit third‑party SaaS. Findings cite 4,029 data labels per transaction used to detect a $7M ATM‑surcharge scheme, a 150% rise in online skimming, and ~$3B crypto theft in 2022 via bridge vulnerabilities; research warns of quantum risks and a five year monetization peak for stolen PII.
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chapters (16)
- 0:00Intro
- 1:32Innovation Accelerators
- 5:32New Threats to Modern-Day Encryption
- 11:36Increase in Synthetic Identity Fraud
- 13:36The Need for Continuous Authentication and Security Controls
- 16:35Advanced Tech and Enumeration Attacks
- 18:27Ransomware-as-a-Service
- 20:33Increase in Crypto Scams, Social Engineering and Ransomware Attacks
- 23:11Crypto Phishing Campaign
- 28:08Developments in the Digital Skimming Threat Landscape
- 30:00Brute Force Attacks
- 32:26Processing Logic
- 35:47Unemployment Insurance & Gov't Disbursement Fund
- 36:52Card Present Fraud Schemes
- 38:41A Defense Strategy to Combat Fraud Increase
- 43:23Fraud-Fighting Work in Action
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