In 2021, online payment fraud grew 14%, from $17.5bn to over $20bn. At the same time, 46% of organisations surveyed by PwC reported experiencing fraud, corruption, or economic crimes in the last 24 months, with 70% of those coming via an external attack or collusion. There are hundreds of different statistics that all mark the same point: the internet can be a dangerous place where there’s money changing hands. When you compound that with the rise of remote working, new digital security issues, and corporate information policies, data appears more exposed than ever.
Cybercrime has surged over the last decade, as more and more platforms create new opportunities for digital thieves and hackers to scam and swindle at will. However, it’s really in the last three years that the data has taken a giant leap. Of all global fraud, it’s thought that around 40%, though likely more, is platform fraud, with the scams originating on platforms including social media, streaming services and mark
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