As we step into 2025, the digital landscape continues to evolve at an unprecedented pace, unlocking opportunities for innovation, connection, and growth. Yet, alongside these advancements, the need for robust cybersecurity has become more critical than ever.
Cybercriminals are adapting quickly, using emerging technologies like artificial intelligence (AI) to refine their tactics, but so too are the tools and strategies designed to counter them. While challenges remain—such as the $485.6 billion in global losses
from scams reported by the Global Anti-Scam Alliance (GASA)—the focus is shifting toward fostering resilience and trust in our increasingly interconnected digital world.
Cybercrime – a $14 trillion industry
If cybercrime were an economy, it would rank as the
world’s third-largest, following the U.S and China. Its rapid expansion has been fuelled by several key factors: cybercrime is perceived as low-risk, with perpetrators often operating beyond the reach of law enforcement. Advancements in technology have
also lowered the barriers to entry—anyone with a laptop and access to the dark web can get started. Moreover, cybercrime is highly scalable, with major operations leveraging advanced technology to expand their reach.
As a result, the cybercrime industry is projected
to reach $14 trillion by 2028. However, technology is also our best defence. Innovations in cybersecurity provide unprecedented visibility into criminal networks and enable real-time interventions to mitigate and even pre-empt attacks on businesses and
payment systems.
Payments: A target and a cybersecurity powerhouse
As the foundation of the global economy, payment networks are a high-value target for cybercriminals. The rise of digital transactions has brought an increase in sophisticated fraud schemes that exploit system vulnerabilities. Yet, the payments industry
isn’t just on the defensive—it has emerged as a leading force in cybersecurity innovation.
Mastercard, for example, blocks over
200 cyberattacks per minute, and between 2022 and 2024 alone, blocked $50 billion in fraudulent transactions..
Meanwhile, AI is also another key area revolutionising fraud prevention. AI tools can process fraud risk in real time, analysing fraudulent activity before it occurs. Mastercard utilises AI to process fraud risks in real time across 143 billion transactions
each year.
The rise of faster payments, and faster fraud
Consumers now expect transactions to be instant, whether peer-to-peer, account-to-account, or business-to-business. While faster payments improve efficiency and convenience, they also create new opportunities for fraudsters. Social engineering attacks—such
as impersonation scams, purchase fraud, and romance scams—capitalize on urgency and trust, deceiving individuals into authorizing payments to bad actors before banks can intervene.
According to the Global State of Scams survey, nearly 78% of consumers encountered at least one scam attempt in the past year. Fraudsters no longer rely solely on phishing emails; they now infiltrate diverse
touchpoints like phone calls, SMS messages, social media platforms, and instant messaging apps. Each type of scams is designed to exploit trust and urgency.
Regulators are responding with stricter policies. In the UK, for instance, banks in the Faster Payments System are now required to reimburse fraud victims within five days. Technology is also playing a crucial role in the fight against fraud.
Securing the future – what's next?
By 2030, cybersecurity will be firmly established as a cornerstone of modern society, ensuring the protection of critical infrastructure and global stability. Key systems—including energy grids, digital healthcare, railways, and air traffic control—will
remain prime targets for cyberattacks. Payment networks, which are vital to the global economy, will still face heightened scrutiny from regulators, national security agencies, and cybercriminal organizations backed by hostile nation-states.
To stay ahead of these threats, businesses and governments are adopting advanced security models that use privacy-enhancing technologies and federated learning. These approaches enable secure, collaborative threat intelligence sharing, allowing cybersecurity
systems to learn from attacks in real time and instantly strengthen the entire financial network against similar threats.
Finally, the challenge of quantum computing, with its ability to perform calculations at unprecedented speeds, cannot be ignored, and poses a significant risk to traditional encryption methods that secure financial transactions and sensitive data. While
today’s quantum technology remains in its early stages, it is advancing rapidly. Within the next five years, companies will increasingly integrate quantum capabilities alongside high-performance computing in hybrid workflows. Organisations must begin quantum-resistant
security measures and upgrade their cybersecurity frameworks to stay ahead of evolving threats.
Collaboration: A global imperative
Cybersecurity is no longer just a corporate or governmental concern—it is a global imperative. A security weakness in one system can trigger a domino effect, compromising businesses, individuals, and entire nations.
The European Union has taken a proactive stance with regulations such as the
Digital Operational Resilience Act (DORA), the
Cyber Resilience Act (CRA), and NIS2, all of which mandate stricter cybersecurity requirements for digital products and expand protections across critical sectors. These measures set a precedent for global cooperation, emphasising the importance of regulatory
alignment and information sharing.
As we forge ahead into an increasingly digital future, a unified approach to cybersecurity—driven by technological innovation, regulatory foresight, and cross-industry collaboration—will be the key to safeguarding our interconnected world.