As financial tech gets more innovative, so do cybercriminals. Digital offenders are finding ways to exploit breached data, use cryptocurrencies to orchestrate attacks on the public sector, and identity fraudsters are stopping at nothing to target vulnerable people through multiple channels.
Cumulatively, the toll is huge: Recent estimates put the worldwide cost of cybercrime at $6 trillion, accounting for 1% of global GDP.
By Brian Prince | Illustrations By Studio Ianus
The estimated current worldwide cost of cybercrime, accounting for 1% of global GDP
Shielding yourself and your organization is not impossible—but it requires a layered, AI-supported approach to cybersecurity, says Ranjita Iyer, Senior Vice President of Cyber and Intelligence Solutions at Mastercard. Below, explore how two cutting-edge Mastercard tools use machine learning and aggregated data to help governments fight crime and companies protect their customers’ financial sovereignty and identities.
Source: Mastercard Securing The Digital
Economy Study
$6 Trillion
