2016 WAS A TUMULTUOUS YEAR. WHAT WILL 2017 BRING?

Welcome to the December 2016 edition of our newsletter! In this issue, we’ll look ahead to 2017’s emerging trends in fraud.

2016 WAS A TUMULTUOUS YEAR. WHAT WILL 2017 BRING?

2016 can be described as a year of upheaval and change, yet some old threats remained, either evolving or greatly increasing in scope. 2016 saw greater numbers of companies being hacked, whether e-mail providers or large retailers, and also saw increased awareness of scams such as phony tax or law enforcement extortion pitches. Also gaining increased attention, if not visibility, was the dark web of anonymized servers acting as a marketplace for numerous types of illicit goods and activities. 2017 is likely to bring increased threats to finance and identity, including smarter malware and “ransomware” and ever more sophisticated telephone scams.

FRAUD PREVENTION EFFORTS FOR THE COMING YEAR

Efforts to guard against various types of fraud are also evolving, although probably not at the same rate of speed as the next generation o tools used to commit fraud, like telephone spoofing software and next generation “burner” devices. Better decryption tools are one step to ultimately identifying perpetrators, and increasing privacy options on client networks can help guard against hackers gaining necessary access, but there is no singular solution to fraud in the 21st century, especially as the technological aspect changes rapidly. Vigilance and diligence are the bulwarks against all types of fraud, and are especially essential tools in such rapidly moving times.