Summary
This report is a biannual analysis of the top threats within the payments ecosystem, covering the period from July to December 2024. It outlines the significant increase in threat actor activities, particularly in the use of advanced technology to execute large-scale fraud schemes. The report details various tactics employed by scammers, including social engineering, malicious mobile applications, and exploitation of system vulnerabilities. Enumeration attacks have risen by 22%, leading to substantial financial losses. The report also highlights the effectiveness of Visa's eCommerce Threat Disruption capability, which has identified an increase in compromised merchant websites. Additionally, it discusses the rise in ransomware and data breach incidents, with a noted 51% increase in such attacks. Visa's proactive measures, including targeted blocks on fraudulent transactions, have resulted in a significant number of declined transactions. The report emphasizes the need for vigilance against evolving fraud tactics and the importance of collaboration among stakeholders to maintain secure payment environments.
