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SDxCentral Quick Hit: Visa Reports Fraud Increase Since Height of Pandemic

Visa released a report on how fraud has evolved since the height of the COVID-19 pandemic, revealing that criminals are targeting online and offline vulnerabilities as we settle into a hybrid world.

The new research shows that while fraud early on during the pandemic was concentrated on online scams, in-person attacks are now trending higher as criminals "widen their scope to once again capture physical targets." In the past year, card-present threats such as physical skimming on ATM and point-of-sale terminals have increased – a trend that Visa says will likely persist.

From June to November 2021, Visa saw a 176% increase in physical skimming devices over the previous 12-month period.

A Visa announcement said still, "the digital commerce environment – vastly accelerated by the pandemic – remains the richest target for cybercriminals."

"Nearly three-fourths of fraud and data breach cases investigated by Visa’s Global Risk team involved e-commerce merchants – often social engineering and ransomware attacks," the released continued. "Digital skimming attacks targeting e-commerce platforms and third-party code integrations are common."

SDxCentral Top Stories Cisco, BT Partner to Support Enterprise Asset Circularity

The circular economy model strives to keep raw materials in production to decouple resource consumption from enterprise growth. Read more.

Oracle Rolls Out Cloud-Native Analytics Suite for 5G

The Oracle cloud-native portfolio aims to help operators make informed and automated decisions to ensure the performance of their 5G core networks. Read more.

Will Metaverse Create a Bigger Digital Divide?

One MWC panelist wants to address the potential impacts the metaverse may have on the already pervasive digital divide. Read more.

Network Visibility Breeds Better Security, Forrester Finds

Forrester found 97% of respondents have already invested in or are planning to invest in new visibility tools over the next three years.  Read more.

Google Accelerates Circular Economy Shift

Startups and NGOs won't receive direct funding from Google but "equity-free support," along with up to $200,000 of cloud credits.  Read more.

7 Layers: Sumo Logic CSO Urges Regulation to Curb Social Media Security Threats

Sumo Logic Chief Security Officer George Gerchow dives into social media security on this episode of 7 Layers.  Stream now.

Want to learn more about cloud-native and cloud security? Click here to register for SDxCentral’s digital event Security in the Cloud-First Era set for Oct. 11-12. Keynote speakers include Google Cloud and Verizon Business Services. Register today.