Unbelievable? They can not distinguish attacks from regular transactions! Research conducted by Kaspersky Lab and B2B International αποκάλυψε ότι τα χρηματοοικονομικά ιδρύματα, (τράπεζες και διάφοροι οργανισμοί πληρωμών), δυσκολεύονται να διαχειριστούν την ηλεκτρονική οικονομική scam in the modern, complex and well-connected technology landscape available today. Over a third (38%) of organizations admit that it is increasingly difficult to distinguish between a genuine online transaction and a fraud.
The explosive growth of electronic payments, coupled with new technological developments and the shifting of business needs, has forced companies to boost the efficiency of their business processes over the past few years. In many cases, this has been achieved by implementing e-flow systems to communicate and interact with suppliers, customers, etc.
Electronic payments of all kinds are now a global one, so it is absolutely impossible for modern businesses to completely avoid any kind of online transactions.
As companies are constantly investing in online transactions, by increasingly discovering the opportunities and opportunities for growth provided by the digital age, ensuring their seamless operation and protection from digital threats are vital priorities. With the number of online transactions growing steadily, so is the case with online fraud, as 50% of the surveyed financial companies highlights. It has therefore become clear that financial institutions must make every effort to protect businesses and customers from ever-evolving digital criminals.
According to the survey, 41% of businesses have implemented an in-house cybersecurity solution, while 45% rely on third-party solutions provided by bank to mitigate risks. However, only 46% of companies have either only partially implemented a solution against online financial fraud, or have implemented nothing at all. Among financial organizations, only 57% have already installed a dedicated security solution against online threats.
According to the above findings, about half of the organizations active in the field of electronic payments use non-specialized solutions, which, according to the statistics, are considered unreliable, especially in cases of deception of the system, as they present a very high percentage wrong results. The inefficient use of security systems can also lead to barring transactions. It is worth noting that the deviation of payments can lead to loss of customers and ultimately profits. This is a very crucial issue for any business. But fraud itself is not the only problem, as financial institutions will have to reduce the number of false alarms in their systems to provide their customers with the best possible service.
“Given the aggressive competition in today's financial services market and the extreme disruption from non-traditional providers, a trusted relationship between customers and their financial institutions is critical to the long-term prosperity of any company. The interdependence of digital relationships with the rest of the financial services market also means that if an organization in the value chain experiences a negative digital security incident (which may be due to fraud, breach, digital attack, etc.), the damage it can quickly spread to other organizations in that financial service supply chain. As the already high volume of customer demand for online services continues to grow rapidly, all companies—whose customers come into contact with digital platforms, online infrastructure, data delivery, and employees—will need to feel and be safe providing services easy to use and properly prepared. Therefore, it is extremely important to use specialized fraud prevention solutions in order to provide their customers with the most convenient and safest service,” commented Ross Hogan, Global enviroment Head of Fraud Prevention at Kaspersky Lab.
Kaspersky Lab specialists recommend both banks and other financial institutions to use comprehensive anti-fraud techniques on multiple levels. The Kaspersky Fraud Prevention platform includes pre-installed online threat control tools through the platforms and devices used by customers, as well as on the server within the IT infrastructure of the bank. Provides multi-level protection for online and mobile banking.
For more information about Kaspersky Fraud Prevention, you can visit its website company.
