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Report: ‘Global scam economy’ thriving in 2023

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1 year ago

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A payments study by Javelin Strategy & Research and SAS examines digital fraud trends worldwide, revealing eight expert strategies banks, retailers and other enterprises can use to fight back

CARY, N.C., June 26, 2023 /PRNewswire/ — The COVID-19 pandemic catalyzed a digital payments revolution, forever reshaping expectations. Today’s consumers demand flexible, real-time payment options throughout their digital journeys. As banks, fintechs, retailers and other businesses modernize and add apps and offerings to keep pace, criminals cash in on weaknesses at every turn. How are professional fraud fighters striking back? A payments fraud study by Javelin and analytics leader SAS explores the fraud climate in 12 countries and offers eight recommendations for curbing the deluge.

This 12-country #payments study explores the digital #fraud-fueled “global scam economy” + eight ways to fight back.

Global Digital Fraud Trends: Evaluating the Past, Present, and Future is the continuation of an October 2020 report by Javelin and SAS on the early pandemic’s digital fraud escalation. This next chapter examines the evolution of digital fraud trends and their impact on consumers and enterprises worldwide, and is based on:

2022 market research on the global fraud landscape.Javelin’s 2022 identity fraud survey, reflecting insights from 5,000 US consumers.Interviews with financial services leaders confronting evolving fraud attacks.

Registering to download the report also gives users access to three regional webinars exploring key findings in the US, EMEA and Asia-Pacific.

“Pandemic digital habits shifted so strongly into card-not-present transactions, and suddenly it feels as if everyone is online, including the bad guys,” said one European fintech executive. “We are making strides in controlling payment fraud with strong authentication and machine learning, but it took some losses to gain an understanding of how important it is to plan ahead.”

“Telecom and [business email compromise] fraud are sources of serious concern for my team,” said the Vice President of Special Investigations at one US bank. “The pandemic has made it impossible to create enough fraud strategy to stay ahead because the criminals now mix multiple merchant names, MCC codes and dollar amounts in automated attacks that are hard to prevent.”

2023’s digital economy presents fresh fraud trends with global impact
In the immediate wake of the COVID-19 pandemic, the digital economy exploded. For fraudsters, the sudden surge in digital transactions and payment modalities offered countless new fraud avenues. As anti-fraud pros grappled with how to adequately protect transactions, scammers largely focused on pandemic-themed schemes and socially engineered attacks.

But the landscape has changed. In 2023, the digital economy and the “global scam economy,” as coined by Javelin, are here to stay – and they will evolve in parallel. Per the report, 2020’s schemes du jour have been replaced by scams galore: romance scams, fake home-based employment opportunities and investment schemes popular among them.

Fraud diversified by region vexes local authorities and anti-fraud pros
Globally, threats are more or less identical, though certain fraud types have manifested and grown differently by region and nation, challenging local anti-fraud pros, law enforcement and governments accordingly. Among the regional trends and national landmark issues revealed in the 12-country study and explored in the webinar series:

Africa – South Africa‘s new Rapid Payments Program will not only foster faster payments but formalize them, helping reduce cash-based crimes that have long plagued the country. Related payment modernization is also expected to help the nation curb rampant cross-border money laundering and terrorist financing by accurately identifying senders and receivers.Asia-Pacific – Per one Singaporean banker, “the perpetrators are very polished,” as robocalls, vishing and phishing impact globally-connected citizens who primarily bank on mobile phones. In response, financial firms in Singapore are enacting push notifications to account holders and daily transaction limits. India’s digital biometric ID system, Aadhaar, boasts 1.3 billion citizens enrolled (99% of Indian adults), serving as a global template for other countries, including Malaysia and Sri Lanka. In Australia, the digital identity validation offered by ConnectID and myGovID is steadily replacing traditional credentials. China has seen explosive adoption of an alternative digital payments ecosystem delivered via social media giant WeChat, and QR codes dominate digital payments.Europe – In the United Kingdom, open banking continues to drive digital innovation, and the Bank of England is considering a central bank digital currency. France marked permanent changes in consumers’ digital purchasing and payment habits, along with the introduction of a national identity program for smartphones. Even as political and environmental strife challenged Italy’s financial sector, more than 30 million citizens adopted its Public Digital Identity System. Meanwhile, organized crime prompted a nationwide money mule awareness campaign by Europol.North America – Embedded lending and Buy Now, Pay Later (BNPL) financing are growing worldwide, but particularly in the United States, where more than two-thirds of consumers report they are “likely” or “very likely” to tap BNPL again after first use. Ballooning BNPL fraud haunts regulators, merchants and payment platforms. The Federal Reserve’s FedNow instant payment service is poised to launch in mid-2023, promising safer payments and greater interoperability. Canada’s national identity program is helping create infrastructure for citizens to frictionlessly access government, financial and health care services. In Mexico, prepaid debit cards continue to boom, while advanced digital payment options fuel thriving e-commerce.South America – Peer-to-peer (P2P) payment culture is flourishing in Brazil via its PIX system, and fintech investment for the unbanked has reached record highs. Still, prolific data breaches, scams and malware attacks threaten the enormous potential of the country’s digital growth, demanding robust fraud and enterprise security safeguards.

Digitally inclusive fraud strategies light the way – eight expert strategies
Among the report’s eight spotlight recommendations for combatting fraud in the digital age: multifactor authentication and account-based alerts should be considered essential, not nice-to-haves. Also paramount in the guidance is the consolidation of monitoring solutions on a single, powerful AI-driven platform.

“A carefully layered deployment of machine learning models, biometrics and contextual, supplementary tools can help financial service firms make faster, more accurate decisions that scale across all verticals,” said Krista Tedder, Head of Payments at Javelin Strategy & Research. “Solutions must be interwoven – and underpinned by shared data streams – to effectively combat the increasingly sophisticated tools and strategies we see being employed by criminals worldwide.”

“US consumers alone lost $8.8 billion to scams last year – a more than 30% jump from 2021 to 2022 – according to the Federal Trade Commission,” said Stu Bradley, Senior Vice President of Fraud & Security Intelligence at SAS. “Consumer trust in the expanding global digital payment ecosystem is an imperative – and that trust is predicated on firms making effective use of advanced customer authentication and anti-fraud technologies, including AI, machine learning and biometrics, to detect and prevent fraud across channels.”

Download the report and access the three regional webinars on-demand at SAS.com/scameconomy.

About SAS
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2023 SAS Institute Inc. All rights reserved.

Editorial Contacts:

Julia Norton

Danielle Bates

julia.norton@sas.com 

danielle.bates@sas.com

+1 919-531-4661

+1 919-531-1959

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Automotive Seat Heater Market to Reach $5.5 Billion, Globally, by 2033 at 6% CAGR: Allied Market Research

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12 mins ago

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September 20, 2024

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Key factors contributing to the growth of the automotive heat seater market include advancements in heating technology, such as the integration of more efficient heating elements and improved temperature control systems.

WILMINGTON, Del., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Automotive seat heater Market by Type (Carbon Heater and Composite Heater), Vehicle Type (Passenger Cars and Commercial Vehicles), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the automotive seat heater market was valued at $3.1 billion in 2023, and is estimated to reach $5.5 billion by 2033, growing at a CAGR of 6% from 2024 to 2033.

The global automotive seat heaters market is driven by increased demand for comfort and customization. As increasing numbers of individuals utilize the roads, the number of affordable vehicles available in recent years has skyrocketed. As a result, there is a greater need for vehicles with interiors that are both visually appealing and practical. The market for vehicle interior materials is being driven by rising consumer demand for customization and technical developments across the industry. In response to client demand, companies are now offering customization choices for creating modern interiors. Consumers increasing health consciousness is also driving the development of environmentally friendly automotive interior materials that contribute to increased comfort. 

Request Sample of the Report on Automotive Seat Heater Market   Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A323768

Prime determinants of growth 

The growing level of competition in the automotive industry is a primary driver of the automotive seat heater market’s expansion. Furthermore, improving consumer affordability, rising consumer income, and the availability of easy financing to purchase a vehicle are all driving forces in the global automobile sector. Furthermore, expansion in the automobile industry causes growth in the global market. Rising popularity of carbon fiber technology, rising demand for comfort and energy efficiency in vehicles, and rising preferences for high-end passenger cars are some of the major and insightful factors that will most likely drive the growth of the automotive seat heater market during the forecast period. The health benefits, such as reduction from discomfort backs and rapid warming, are driving market expansion. The expanding aftermarket sales of car seat heaters are driving the market forward.

Have a Question? Connect to our Analyst – https://www.alliedmarketresearch.com/connect-to-analyst/A323768

By Type 

The carbon heater segment is expected to grow faster throughout the forecast period.

The carbon heater segment is anticipated to experience faster growth in the automotive seat heater market. Carbon fiber meshed weave heating pads will remain the largest market segment as this type of seat heater ensures good strength and requires very low voltage to produce heat. a growing preference for energy-efficient and environmentally friendly components, aligning with the broader push towards sustainable automotive solutions. The integration of advanced technologies, such as automatic climate control systems that adjust seat heating based on ambient temperature and individual preferences, is becoming increasingly popular.  

By Vehicle Type

The passenger car segment is expected to grow faster throughout the forecast period.

The passenger car segment is anticipated to experience growth in the automotive seat heater market. The increasing expenditure on passenger and driver comfort. The development of premium features and the surge in passenger vehicle numbers in Europe and North America significantly contribute to this growth. Additionally, there is a rising demand for SUVs and luxury vehicles in emerging markets. Automotive manufacturers are continuously innovating electronic technologies, which create new opportunities for the application of heated seats in passenger cars. This trend is further bolstered by the emphasis on enhancing vehicle comfort and the integration of advanced climate control systems. 

Procure Complete Report (324 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/automotive-seat-heater-market-A323768

By Sales Channel

The aftermarket segment is expected to grow faster throughout the forecast period.

The aftermarket segment is anticipated to experience growth in the automotive seat heater market. One of the standardization of temperature control seats in various mid-range and high-end vehicles is helping the OEM section of the automobile seat heater industry. Seat heater replacement rates are predicted to rise due to excessive wear and tear, as well as changing climatic circumstances in cold locations, driving up aftermarket sales. When compared to OEM products, aftermarket products are more cost-effective. Furthermore, owners of vehicles without seat heaters add this equipment in the aftermarket, which boosts seat heater aftermarket sales.

By Region

Europe to maintain its dominance by 2033.

Europe is expected to maintain its dominance in the automotive heat seater market by 2033 owing to robust industrialization, infrastructural development, and growing investments in automotive and manufacturing sectors. has witnessed a surge in the popularity and necessity of automotive seat heaters. As the nation’s economy expands and consumer prosperity grows, there is a corresponding increase in the demand for vehicles equipped with advanced comfort amenities. Once considered a luxury, seat heaters are now becoming more accessible to a wider demographic, fueling their adoption among consumers.

Europe will maintain its pivotal role as a significant market for automotive seat heaters. This is primarily due to the increasing demand from end users who prioritize cabin comfort, especially in the winter months. Seat heaters are favored for their ability to significantly enhance occupant comfort during this season.

Players: –

Continental AGPanasonic CorporationGentherm IncorporatedII-VI IncorporatedRoadwire LLCRostra Precision Controls Inc.Firsten Automotive Electronics Co., Ltd.Guangzhou Tachibana Electronic Co., Ltd.SINOMASChampion Auto Systems

The report provides a detailed analysis of these key players in the global automotive seat heater market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry News

In August 2020, Lear and Gentherm introduced INTU™ Thermal Comfort Seating with ClimateSense™ Technology.

For More In-depth Insights: https://www.alliedmarketresearch.com/automotive-seat-heater-market-A323768

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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/R E P E A T — MEDIA ADVISORY – Minister Wilkinson to Make a Critical Minerals Infrastructure Announcement/

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September 20, 2024

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VANCOUVER, BC, Sept. 19, 2024 /CNW/ – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Ranj Pillai, the Premier of Yukon, will make a funding announcement in support of critical minerals infrastructure projects. A media availability will follow.

Date: September 20, 2024

Time: 10:30 a.m. PT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. A dial-in line is available for media and will be provided upon registration.

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SOURCE Natural Resources Canada

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Olink Proteomics Announces the ‘Olink Proteomics World’ Virtual Conference: A Novel Platform Exploring the Latest Advancements in Proteomics and Proteogenomics

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September 20, 2024

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The ‘Olink Proteomics World’ Virtual Conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation on September 26th, 2024.

WALTHAM, Mass., Sept. 20, 2024 /PRNewswire-PRWeb/ — Olink Proteomics, part of Thermo Fisher Scientific, a leading provider of advances proteomics solutions, is exited to announce its upcoming virtual conference, Olink Proteomics World, on September 26th, 2024.

The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

This innovative virtual conference will bring together scientists from around the globe to explore the latest advancements in proteomics and proteogenomics across fields such as immunology, oncology, neuroscience, aging, and inflammation. The digital event features presentations from esteemed scientists and provides a platform to connect with peers, identify potential collaborations, and explore advanced protein biomarker discovery tools and results.

Our lineup of esteemed presenters will cover a wide range of topics, including:

The Aged Tumor Microenvironment: Understanding how aging influences the tumor microenvironment and its implications for cancer therapy.Infectious Diseases Dynamics: Unravelling how proteomics can enhance our understanding and management of infectious diseases.Alzheimer’s Diagnostics and Disease Monitoring: Exploring the latest tools and biomarkers for early detection and monitoring of Alzheimer’s disease.Aging Mechanisms: Insights into the biological processes of aging and how they can inform healthcare strategies.Predicting Disease Risks: Utilizing multiomics data to forecast disease risks and improve preventive measures.Genetics and Proteomics of Obesity: Investigating the complex interplay between genetics, proteomics, and obesity.Microbiome Transplantation Effects: Evaluating the impact of faecal transplants on human health and disease.Biomarker Discovery in Multiple Sclerosis: Cutting-edge research on identifying biomarkers for better diagnosis and treatment of Multiple Sclerosis.

In addition to these topics, our speakers will delve into various aspects of multiomics research, offering insights into how integrated approaches are shaping the future of personalized medicine and healthcare.

To see the full agenda and list of speakers for this event click here.

In addition to expert presentations, attendees can participate in interactive sessions, visit the digital poster hall, and engage in real-time Q&A sessions with speakers.

For further information about the event & to register for free, click here.

About Olink Proteomics
Olink’s mission is to accelerate proteomics together with the scientific community, to understand real-time biology and gain actionable insights into human health and disease. Our innovative solutions deliver highly sensitive and accurate protein quantification, giving scientists the power to investigate complex biological processes with precision.

About Labroots
Labroots is the leading scientific social networking website, & primary source for scientific trending news & premier educational virtual events & webinars & more. Contributing to the advancement of science through content sharing capabilities, Labroots is a powerful advocate in amplifying global networks & communities. Founded in 2008, Labroots emphasizes digital innovation in scientific collaboration & learning. Offering more than articles & webcasts that go beyond the mundane & explore the latest discoveries in the world of science, Labroots users can stay atop their field by gaining continuing education credits from a wide range of topics through their participation in the webinars & virtual events.

Media Contact

Akshay Masand, Labroots, 714-463-4673, akshay.masand@labroots.com, https://olink.com/ 

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