According to the latest worldwide market study by Juniper Research, annual online payment fraud losses from eCommerce, airline ticketing, money transfer and banking services will reach $48 billion by 2023 — that’s up from the $22 billion in losses projected for 2018.
Every online customer touchpoint – including websites, mobile apps, and APIs – is being attacked by bots. What are these bad bots doing? Interrupting good customer traffic, committing fraud, and stealing information – just advertising fraud alone is set to exceed $3.3 billion in 2018.
Of more than 2,500 people surveyed, 83% thought regulation was needed – and 62% believed it was on the way within the next few years. Older respondents were most in favour of Wall Street-style controls on Silicon Valley, with 62% for, in comparison with 47% of Gen X, and 44% of millennials.
Hundreds of millions of Facebook users are likely to have had their private information harvested by companies that exploited the same terms as the firm that collected data and passed it on to Cambridge Analytica, according to a new whistleblower.
via The Guardian
Advertising fraud is expected to cost marketers $6.5 billion in 2017. High-profile schemes frequently make headlines, including Methbot, a massive fraud effort that reportedly earned its criminal perpetrators $3-$5 million a day.