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Education

your bottom line. Businesses can no longer afford
to scrimp on cybersecurity and must view it in the
same light as traditional, physical security measures.
To ensure this is the case, there is a growing need for
flexible, adaptable and scalable cybersecurity solutions
that are accessible to all businesses regardless of sector,
or size.

The most progressive online businesses now consider
cybersecurity to be an infrastructure cost and part of
the gross margin. As such, spending in this area can
no longer be considered a luxury. What's more, it is
often an effective way to help attract new customers in
a highly competitive business landscape.

5. Collaboration on fraud prevention increased
(TK)

One of the things I was most pleased about in 2021 was
the growth in industry collaboration relating to fraud.
Companies within the fraud prevention space are
increasingly coming together to share insights with one
another and to develop closer lines of communication
regarding new and emerging threats.

I feel like this is a really important development,
especially in the wake of a surge in online fraud attempt
rates. It also means that the sector is finally acting more
like the fraudsters themselves, who are always sharing
tips and tricks with each other to help stay ahead of
new security measures.
6. The metaverse got a big push (TK)

While this choice might seem a little left field at first,
I think it has the potential to have the biggest impact
on online fraud long-term. Mark Zuckerberg's long-
debated push toward the metaverse is finally in
motion and could soon have major implications on
cybersecurity and fraud, which the sector would be
wise to proactively prepare for.

Most notably, the new technology raises the question:
how do we get people to authenticate themselves in
an environment that's increasingly based online? It's a
really interesting challenge and one that's also pertinent
to the problems we face today, particularly with many
of us still working from home.

Bence Jendruszak is co-founder and chief operating officer and
Tamás Kádár, co-founder and chief executive officer of SEON, a
company they created as a side project while in college because they
found that what passed for state-of-the-art in legacy fraud preven-
tion wasn't up to the task of cutting down attacks on their cryptocur-
rency exchange. SEON now has hundreds of employees, staggering
year-on-year growth and tens of thousands of clients, and the found-
ers are still in their twenties. Contact Bence at www.linkedin.com/
in/bence-jendruszak/?originalSubdomain=hu and reach out to
Tamás at www.linkedin.com/in/tomkadar/. For more information
about SEON, please visit www.seon.io.
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