Company
Date Published
Author
Alexander Goodwin
Word count
922
Language
English
Hacker News points
None

Summary

The recent Gartner report on online fraud prevention highlights a significant shift towards integrating fraud prevention and cybersecurity into a unified approach termed "cyberfraud fusion." This trend, driven by the need for holistic defenses against evolving digital threats, is particularly relevant to sectors like online banking and financial services, with large retail organizations also adopting this approach. The consolidation is propelled by regulatory requirements, such as the EU's Digital Operational Resilience Act, and the complexity of managing disparate software tools. By 2031, a substantial portion of large financial institutions and online retailers are expected to merge their fraud prevention and cybersecurity efforts. Cyberfraud fusion involves using a unified technology stack that integrates digital risk protection, identity verification, and decision engines, while device intelligence offers crucial risk signals across the organization. Vendors are encouraged to adapt by developing hybrid offerings that meet the complex needs of security teams, as those who resist this shift may struggle in the evolving threat landscape.