The European Payments Council publishes for the first time the payment threats trends report

The EPC publishes today the 2016 Payment Threats Trends Report. It provides an insight into the latest developments on threats affecting payments, including cybercrime. It attempts to create awareness on these matters in order to allow stakeholders involved with payments to decide on possible actions in this respect.

Denial of service attacks (an attempt to interrupt or suspend services of a host connected to the internet), phishing, malware, mobile related attacks, botnets (a network of private computers infected with malicious software and controlled as a group)… These are just some of the threats that affect payments in the cyberspace.

To contribute to create awareness on these matters, and help payment stakeholders decide on possible actions, the EPC publishes the Payment Threat Trends Report.

The document is structured into two sections. The first section analyses threats which are encountered nowadays in payment contexts and are causing fraud including denial of service attacks, social engineering and phishing, malware, mobile related attacks; card related fraud, botnets (i.e. a network of private computers infected with malicious software and controlled as a group), etc…

A second section aims to include early warnings on threats related to emerging technologies which could lead to potential fraud in payment contexts. The following topics are covered: cloud services and big data, internet of things and virtual currencies.

For the first time publicly released, this report will be helpful to any professional wishing to learn more about widespread and emerging payment threats alike.

Source: EPC – 2016 PAYMENT THREATS TRENDS REPORT