Digitalization advances by leaps and bounds, and with each advancement, new challenges emerge. Cyber risk and digital threats constantly evolve with new tactics driven by artificial intelligence and sophisticated criminal networks, jeopardizing trust, growth, and the security of the digital ecosystem. It’s not just about protecting transactions but ensuring every interaction. Without trust, digitalization cannot thrive.
Cybersecurity: a growing global challenge
Cybercriminals have found in AI a powerful tool to sophisticate their attacks. Deepfakes, automated phishing, and large-scale fraud make digital organized crime not only more effective but also harder to trace. The numbers are alarming:
- By 2023, online fraud losses reached 1 trillion dollars worldwide.
- The estimated cost of global cybercrime is expected to reach 14 trillion dollars by 2028, making it the world’s third-largest economy.
- Fraud remains a significant and growing threat, with nearly half of global consumers experiencing at least one attempt per week.
- According to the cybersecurity company Cybersecurity Ventures, the global cost of cyberattacks in 2023 was 6 trillion dollars, with a forecast to increase to 10 trillion in 2025.
- In Latin America, data leaks and breaches reached an average cost of 2.46 million dollars — a historic record for the region and a 76% increase since 2020, according to the study Cost of a Data Breach (America Economia – special edition on Cybersecurity – March 2024).
This data reinforces the need for a more strategic approach to cybersecurity, allowing to anticipate threats rather than just react to them.
Towards a safer digital ecosystem
At Mastercard, for example, digital security is an integral part of our mission. Ensuring digital security for us involves three fundamental pillars:
- Assess: Giving visibility to cyber risks. Solutions like RiskRecon help companies and governments understand their risk exposure, enabling continuous monitoring of vulnerabilities.
- Protect: Implementing advanced technologies to mitigate threats. AI and real-time monitoring are essential tools for preventing attacks. With Recorded Future, we strengthen our real-time threat intelligence capability. Additionally, solutions like SafetyNet have prevented $50 billion in losses from fraud in the last three years.
- Build a trusted ecosystem: Fighting cybercrime cannot be done in isolation. Alliances between companies, governments, and organizations are necessary to share intelligence and create stronger security standards.
The ability to track global cyberattack patterns is crucial. Today, it is possible to detect an attack in Brazil, trace its movement to Indonesia, and analyze its recurrence in Germany. This level of connectivity and predictive analysis is essential to anticipate emerging threats and strengthen digital resilience.
AI as an ally in the fight against fraud
While cybercriminals use AI to enhance their attacks, artificial intelligence has become a powerful ally in digital security. Our generative AI solutions have allowed:
- Doubling the detection rate of compromised cards
- Reducing false positives in fraud detection by 200%
- Increasing the speed of identifying at-risk merchants by 300%
These innovations strengthen security and enhance user experience, reducing frictions and increasing confidence in every transaction.
A call to action: security is a shared responsibility
In an increasingly interconnected world, trust is the most valuable asset. Without security, the opportunities of digitalization can be compromised. Today, more than ever, ensuring the security of the digital ecosystem requires innovation, cooperation, and a preventive approach.
