As we journey into the future, a new breed of fraudsters is emerging, leveraging cutting-edge AI technologies to devise even more intricate schemes. This escalation in digital deception has compelled organisations to increase their investments in fraud prevention strategies, striving to stay one step ahead of these cunning criminals. In an enlightening exploration of the techniques being deployed to combat fraud in the year 2025, SEON, a firm renowned for its expertise in digital fraud prevention and compliance, unveiled its comprehensive ‘2025 Digital Fraud Report.’
This insightful report gathered valuable perspectives from 574 key decision-makers hailing from diverse corners of the financial landscape, including fintech, pay techs, e-commerce entities, and iGaming companies. The findings revealed a triad of pivotal elements steering the fraud prevention arena: a harmonious blend of skilled personnel and advanced technology, the implementation of real-time transaction monitoring, and the continuous evolution of artificial intelligence.
Confronting the Surge in Fraud
SEON’s report painted a sobering picture of the potential losses businesses might endure due to fraud, estimating that up to five per cent or more of their revenue could be sacrificed. These losses stem from operational inefficiencies, penalties for non-compliance, and the erosion of customer trust. As fraudulent tactics evolve with alarming speed, companies are finding it imperative to allocate more substantial portions of their budgets to fortify themselves against these threats.
A significant majority of respondents—65 per cent—anticipate an increase in their fraud prevention budgets. A staggering 86per centt have already dedicated over three per cent of their revenue to combating fraud. However, amid this expansion of fraud teams, there is an underlying concern among decision-makers: fraud appears to be outpacing revenue growth. Thirty-two per cent acknowledged this challenge, with an additional 11 per cent expressing strong agreement.
The Quest for the Right People and Technology
Everyone plays a crucial role in this relentless battle against fraud. The search for the right combination of talent and technological prowess is paramount in this endeavour. Organisations are acutely aware that only by uniting skilled individuals with state-of-the-art tools can they hope to safeguard their interests against the ever-present threat of digital deception.
Finding the right people and technology is crucial in the battle against fraud. Each individual within an organisation plays a unique role in this ongoing fight. Traditionally, IT teams have been at the forefront, tasked with safeguarding the digital perimeters. However, the responsibility extends beyond just them. Sales, marketing, and communications employees also need to practice vigilance and conduct their due diligence to prevent fraudsters from exploiting any overlooked vulnerabilities.
The importance of collaboration cannot be overstated. A recent report highlights this need, revealing that a staggering 97 percent of respondents emphasised the critical nature of IT and security teams working hand-in-hand with other departments to thwart fraudulent activities. Surprisingly, only a mere one percent deemed such collaboration unimportant, underscoring its significance.
Interestingly, finance teams stood out in the survey results. Not a single respondent from this department suggested that collaboration was unimportant. This underscores the universal understanding among finance professionals of the necessity for teamwork in creating a robust defence against fraud. The data paints a clear picture: combating fraud is not a solitary endeavour but a collective responsibility that requires coordinated efforts across all sectors of an organisation.
For years, human error has been a major culprit in the rise of fraud, often turning simple oversights into potential business disasters. A misplaced decimal or an overlooked discrepancy can unravel months of hard work. Enter AI, the technological knight in shining armour, poised to tackle these issues head-on. According to a recent SEON report, a staggering 84% of firms believe that AI will significantly reduce the need for constant human oversight in detecting fraud. This represents a seismic shift in how businesses approach risk management.
Confidence in AI’s capabilities is not just optimistic but overwhelming. An impressive 96% of respondents expressed some level of faith in the technology, with 39% of them feeling extremely confident. This marks a stark contrast to traditional fraud prevention methods, which now seem antiquated by comparison. The numbers speak for themselves: over half of those surveyed, precisely 51%, have already witnessed AI’s tangible benefits in combating fraudulent activities.
Scepticism is at an all-time low. Only a tiny fraction—1%—of respondents think that AI is overhyped, albeit acknowledging some practical advantages. Similarly, another mere 1% feel that AI hasn’t made a significant impact on risk prevention. These figures underscore the growing acceptance and trust in AI’s role in safeguarding businesses.
With these spells and a united front, they could ACT Against Scams and shield their beloved town from harm.
Secure browsing
When it comes to staying safe online, using a secure and private browser is crucial. Such a browser can help protect your personal information and keep you safe from cyber threats. One option that offers these features is the Maxthon Browser, which is available for free. It comes with built-in Adblock and anti-tracking software to enhance your browsing privacy.
By utilising Maxthon Browser, users can browse the internet confidently, knowing that their online activities are shielded from prying eyes. The integrated security features alleviate concerns about potential privacy breaches and ensure a safer browsing environment. Furthermore, the browser’s user-friendly interface makes it easy for individuals to customise their privacy settings according to their preferences.
Maxthon Browser not only delivers a seamless browsing experience but also prioritises the privacy and security of its users through its efficient ad-blocking and anti-tracking capabilities. With these protective measures in place, users can enjoy the internet while feeling reassured about their online privacy.
In addition, the desktop version of Maxthon Browser works seamlessly with their VPN, providing an extra layer of security. By using this browser, you can minimise the risk of encountering online threats and enjoy a safer internet experience. With its combination of security features, Maxthon Browser aims to provide users with peace of mind while they browse.
Maxthon Browser is a reliable choice for users who prioritise privacy and security. With its robust encryption measures and extensive privacy settings, it offers a secure browsing experience that gives users peace of mind. The browser’s commitment to protecting user data and preventing unauthorised access sets it apart in the competitive web browser market.