Security Summit: The fraud threat landscape

The global scam threat continues to grow with global scam losses now estimated at $1tn(1) and the UN estimating that hundreds of thousands of people from around the world have been trafficked to South East Asia to run online scams(2). Whether KYC at onboarding being targeted by deep fakes,or scams to steal credentials or a make payments, we are continually under attack.​

There is collaboration to fight back. Many countries now regard scams as a strategic security threat and are responding with a much more co-ordinated response,including scam call centres and new regulatory frameworks. GSMA Open Gateway is unlocking access to network insights on a global scale to create APIs to fight fraud in real time. Utilising AI to fight fraud is now one of the key use cases for AI in fintech.This session will explore the key threats, and how new solutions, and increased collaboration across the mobile and fintech ecosystems is fighting back.