• Cashless Ambitions, Proceed with Caution

    Globally there is a growing movement towards becoming cashless societies. While these cashless ambitions offer numerous benefits, Kaspersky Lab suggests proceeding with caution, with an eye on tightening cybersecurity around the payment eco-system. One fundamental aspect of becoming a cashless society via digitalization is the increased adoption of online and mobile channels that has been a boon for perpetrators of fraud, specifically cyber-fraud. According to Forrester, there has been a 62% increase in payment fraud since Oct 2015. The increased touch points and the nature of those channels lends itself nicely to cyber fraud by masking and hijacking the identity of the mobile user. Consumers are demanding more seamless and…