" This is an issue that isn’t going away. More needs to be done or we will continue to see large numbers of New Zealanders suffering financial and psychological harm,” says Netsafe CEO Martin Cocker.

Nuance Communications has crunched the numbers and discovered that it has prevented more than US$1 billion worth of fraud from being passed on to users of its Nuance Security Suite.

Despite ongoing efforts to raise awareness about online scams and fraud, New Zealanders are still losing staggering amounts of money.

Along with greater speed comes new fronts in the fight against fraud. Here are three trends to watch as financial institutions balance speed and security.

Its new solution uses machine learning to protect online and mobile channels, as well as meet compliance requirements for transactional risk analysis

“We are bringing criminal charges against telecommunications giant Huawei and its associates for nearly two dozen alleged crimes."

Proofpoint researchers have looked ahead at the trends and events likely to shape the threat landscape in the year to come.

Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.

Despite the crackdowns, Microsoft warns that these scams persist and target everyone, no matter their age or location.

"It’s essential for businesses to monitor human behaviour, and apply and enforce policies consistently. The alternative is to lose large amounts of unrecoverable money as a result of people’s actions."

Unfortunately the Xero Security team is all too aware of fraud. We see it affecting our customers and community as an almost daily event.  

Is this for real? More often than not these days it can be hard to tell, and it’s okay to be a bit suspicious, especially when it comes to fraud.

An staggering $476 million has been lost to fraud by Australian merchants over the last 12 months, thanks to the deployment of more innovative fraud methods by criminals. 

The ACCC has issued another warning to Australians to be wary of scam tactics, as victims continue to lose large sums of money.

The company admits that approximately 10 million records containing personal data may have been accessed during the 2017 breach.

So far in 2018 Australians have lost more than $26 million to investment scams. Already monthly losses have increased 117% since last year.

From personal privacy to online scams, it seems almost every IT security-related issue now has its very own awareness week.

Action Fraud UK is warning people to be wary of any emails they receive that look like they belong to UK university email addresses.

To qualify as an innovator, vendors must have under $100 million in revenue at the time of the selection.

"While some systems claim to be using artificial intelligence to analyse transactions, this is the most sophisticated tool available in New Zealand."

Australian organisations should be looking at their ICT security as part of their planning process for the new financial year.

Emailage delivers online fraud mitigation and email risk assessment technologies and says ecommerce fraud is a growing problem around the world.

"My greatest fears are emerging fintech and cryptocurrency companies that may have a less mature approach to third party consumer fraud."

The first three months of 2018 were busier than ever for cybercriminals, who managed to steal $2.9 million from New Zealanders.