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How to identify potential threats in critical infrastructure and e-commerce in the new normal

34 percent consumers have experienced financial fraud in the past 12 months

July 26, 2021 / 03:58 PM IST


  • About 68 percent of consumers are using mobile payment apps and 94 percent of Gen Z consumers own mobile wallets.

  • 34 percent consumers have experienced financial fraud in the past 12 months


Critical infrastructure, e-commerce and essential services are more vulnerable to widespread cyber threats. With the increased pace of digital payments, there  has  been a significant surge in financial frauds according to a recent FIS PACE survey.

Bharat Panchal, Chief Risk Officer, APMEA, FIS said: “The pandemic has led India to a new phase of digital payments adoption. To be successful, it’s vital that the banking sector provides technology-centric strategies which meet the diverse preferences of consumers’ rapidly changing habits, while also driving financial inclusion for underserved communities around the country.”

Learn how to stay future ready and agile by implementing data driven insights and monitoring risk control systems. Watch Fix The Risk, Managing Threats in Critical Infrastructure & E commerce

 

Moneycontrol journalists were not involved in the creation of the article
Tags: #Features
first published: Jul 21, 2021 05:07 pm
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