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Over half of consumers have been a victim of financial crime

Feedzai’s new report reveals a lack of awareness of scams is putting many consumers at severe risk
Romance scams top the list of most common fraud type with one in 10 who have fallen victim losing more than $8,400 to scammers
Fraudsters are adapting and increasingly taking advantage of unsuspecting consumers, luring them into becoming money mules with 42% approached on social media
Consumers believe it’s the responsibility of their bank to reimburse them should they be targeted, with 77% leaving their bank should they not be refunded
Banks must adopt emerging technologies if they’re to tackle fraudsters and reassure their customers, with 53% feeling safer knowing their bank is using AI to protect them

Feedzai, the world’s first RiskOps platform for financial risk management, has released its latest report - The Human Impact of Fraud and Financial Crime on Customer Trust in Banks. The report, based on research of 4,000 consumers in the UK and US, reveals how fraudsters are taking advantage of the widening fraud knowledge gap, outlining the urgent need for banks to educate and protect their customers with technology.

: THE EDITORIAL TEAM; Case Studies; Posted On Thursday, 20 April 2023 18:58

DLA Piper: Autonomous vehicles - where AI intersects with public safety

Gareth Stokes, Partner at international law firm DLA Piper reacts to news on experts fearing the UK will be ‘left behind’ in the race to develop self-driving cars:

“Autonomous Vehicles are one of the clearest examples of where AI intersects with public safety. There are tremendous opportunities for UK innovators in the AV space, and there are cutting edge systems being developed here. A clear, safety-focussed regulatory framework, together with solid protections around cybersecurity, data, privacy and intellectual property issues will provide the legal certainty that businesses need to take investment in this important technology to the next level”.

: Gareth Stokes, Partner, DLA Piper; Talking Point; Posted On Thursday, 20 April 2023 18:54

Insurtech Demand is Expands Swiftly at a 15% CAGR to Attain US$ 34.7 Billion by 2033

The global insurtech market is valued at US$ 8.6 billion in 2023 and is projected to reach US$ 34.7 billion by the end of 2033.

The insurance industry, known for its traditional and conservative nature, is undergoing significant transformation with the emergence of insurtech. Insurtech refers to the use of innovative technologies, such as artificial intelligence (AI), data analytics, and automation, to upgrade and optimize various processes in the insurance value chain. This wave of technological innovation is empowering start-up companies to challenge incumbents and revolutionize the insurance market.

: Fact.MR.; Vigilance; Posted On Thursday, 20 April 2023 18:45

Dell Technologies Builds Ecosystem to Speed Zero Trust Adoption

Dell brings together more than 30 leading technology and security companies to create a unified Zero Trust solution

By Herb Kelsey, Federal CTO, Dell Technologies

Navigating security is like trying to make your way through a high-stakes labyrinth. There are so many different, complicated passageways that make it hard to reach your destination. Zero Trust can help ease this journey.

We’re leading a paradigm shift in security, but it’s going to take a village to bring it to life. This paradigm is Zero Trust, and we’re helping pull together the village through a robust partner ecosystem.

Zero Trust is a cybersecurity framework that automates an organization’s security architecture and orchestrates a response as soon as systems are attacked. The challenge, however, lies in implementing a complete solution guided by the seven pillars of Zero Trust. No company can do this alone.