Multilayered Fraud Detection with Cyber Intelligence
For centuries, fraudsters have devised cunning schemes to steal from unsuspecting victims. Though fraud methods have evolved, their impact remains devastating. In 2023 alone, victims worldwide lost more than US$1 trillion to fraud.
The latest INTERPOL assessment of financial fraud reveals that technology significantly enables cybercriminal groups to launch large-scale and sophisticated campaigns. This trend calls for a similar technology-empowered cybersecurity approach. Organizations need to respond in kind and utilize modern technology to detect and prevent fraud.