Top 7 Cybersecurity Threats For 2022

Consumers and corporations must be aware of the growing prevalence of fraud. Last year alone, American consumers faced $56 billion in identity theft losses. By 2025, total global cybercrimes costs are expected to rise to a whopping $10.5 trillion.

Here are the top 7 threats both consumers and corporations
must be on the lookout for.

7- Ransomware Attacks: During the pandemic, ransomware attacks boomed. Now, with companies paying millions to unlock their data and assets, 2022 could be a record year for this crime.

6- Marketplace Scams: Fraudsters sell fake, non-existent, or counterfeit items to online shoppers using ridiculous claims. They use cloned or legitimate-looking eCommerce websites to pull it off.

5- Deepfake Identity Fraud: Cybercriminals are now able to impersonate legitimate consumers with the use of deepfake technology. Using this tech along with PII, they can open accounts, transfer funds, and scam government agencies.

4- BNPL Fraud: Scammers take over consumer accounts on “buy now pay later” platforms, order massive amounts of goods and leave the scammed consumer to foot the bill.

3- Digital ID Verification Fraud: Digital identification verification is designed to fight fraud. However, fraudsters have discovered how to use it to impersonate legitimate bank customers to steal from both the customer and the bank.

2- FaaS: Fraud as a Service has become a major problem. Low tech criminals are now outsourcing their scams to higher tech criminals and bots. Because of FaaS, the barrier to entry in the fraud world is now very low.

1- RTP Fraud: Real time payments allow consumers to transfer money almost instantly. It also allows fraudsters to access funds and transfer them immediately as well. Since RTP fraud occurs in real time, most banks cannot detect fraud until it’s too late.

How to Combat These 7 Frauds for 2022

The only way to combat fraud is to utilize better weapons than the fraudsters.

Introducing ToolCASE, the world’s most advanced transaction Ai company.

We are global industry’s preferred choice for feal-time, customizable artificial Intelligence solutions for fraud detection and prevention, data protection and robust cyber threat defense.

Even the most sophisticated criminals are no match for ToolCASE.