The next decade will be a reckoning for the commercial data economy created over the last 10 years. Our reliance on social media and smart devices has powered large-scale data collection for tech giants dedicated to user surveillance as a primary competitive advantage.
Meanwhile, fraud continues to exploit technology’s double-edged sword: increased data collection enhances customer experience and opens gateways to new authentication methods while simultaneously eroding privacy and security.
At the cusp of 2020, these are the fraud developments of the past decade that will come to fruition in the next 10 years.
Demand for marketing data will fuel complex fraud
The commercial demand for new data types – personal profiles, shopping and browsing habits, micro-targeted political affiliations – offers fraudsters a wealth of opportunities to craft more detailed personas, or to more accurately impersonate a legitimate consumer.