Digitalization is advancing at a rapid pace and with each advance new challenges arise. Cyber risk and digital threats are constantly evolving with new tactics driven by artificial intelligence and sophisticated criminal networks, endangering the trust, growth and security of the digital ecosystem.It is not just about protecting transactions, but ensuring every interaction.
Cybersecurity: a growing global challenge
Cybercriminals have found AI to be a powerful tool to sophisticated their attacks. Deepfakes, automated phishing and large-scale fraud make digital organized crime not only more effective, but also harder to track.The numbers are alarming:
- In 2023, online fraud losses reached 1 trillion dollars worldwide.
- The cost of cybercrime is estimated to reach 14 trillion dollars by 2028, making it the third largest economy in the world.
- Fraud remains a significant and growing threat, with nearly half of global consumers suffering at least one attempt per week.
- According to the cybersecurity company Cybersecurity Venturesthe global cost of cyberattacks in 2023 was 6 trillion dollars, and the number is expected to rise to 10 trillion by 2025.
- In Latin America, data breaches and leaks have reached an average cost of 2.46 million dollars - a historic record for the region and an increase of 76% since 2020, according to the study Cost of a Data Breach (America Economy 2024 special edition on Cybersecurity).
This data reinforces the need for a more strategic approach to cybersecurity that allows you 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.For us, ensuring digital security involves three fundamental pillars:
- Assess: Giving visibility to cyber risks. Solutions such as RiskRecon they help companies and governments understand their risk exposure, enabling constant monitoring of vulnerabilities.
- Protect: Implement advanced technologies to mitigate threats. AI and real-time monitoring are essential tools to prevent attacks Recorded Future, We strengthen our real-time threat intelligence capabilities, and solutions like the SafetyNet they have avoided 50 billion dollar losses from fraud over the past three years.
- Organizing an ecosystem of trust: Combating cybercrime cannot be done in isolation, but alliances between companies, governments and organisations are needed to share intelligence and create more robust security standards.
The ability to track cyberattack patterns globally is crucial. Today, it is possible to detect an attack in Brazil, track its movement to Indonesia and analyze its recurrence in Germany.This level of connectivity and predictive analytics is critical 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 enabled:
- Double the detection rate of compromised cards
- Reduce false positives in fraud detection by 200%
- Increase in 300% the speed of identifying trades at risk
These innovations strengthen security and improve the user experience, reducing friction and increasing trust 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.
