Cybersecurity, Italy the most affected by fraud: damages for 125 million

If only in the United States from 2019 to 2020 there was a 70% jump in computer fraud with loss of money – according to the FBI Internet Crime Report – amounting to over 40 billion dollars, and in this scenario Italy it turned out to be one of the hardest hit countries. In fact, our country recorded over 21,800 cases of computer fraud detected in 2020, for an estimated damage of almost 125 million euros. And in addition to fraud related to the use of credit cards, there are those relating to personal loans or for the purchase of goods and services and real estate loans. The main types with which fraudulent attacks have been perpetrated are phishing, smishing, vishing, personal data breaches and identity theft. The increase in cybercrime incidents has had a significant impact on the global fraud detection and prevention market, which grew to $ 26 billion in 2021, 3 billion more than in 2020, with estimates of $ 141 billion by 2028. . Giulio Coluccia, CEO & Co-founder of ToothPic, the innovative Italian startup focused on IT security for authentication, explains that this is “a growth linked above all to investments in anti-fraud solutions by the main players who have been most affected, including the banking, financial and insurance sectors, for which there is a clear need to identify and track users in their online activities “. Precisely in this context, ToothPic recalls having developed a solution “capable of offering an additional level of security to financial services against potential fraudulent events by designing a technology capable of recognizing each smartphone through the sensor of its camera, thanks to the possibility of extracting identifiers. unique to the latter’s hardware, with a number of key benefits. ” The identifier, in fact, can survive the software reset, since it is not tied to the hardware, it cannot be counterfeited, since it is tied to a physical property of the sensors, and it can be randomized, so that a certain application cannot deduce the identifier of another, even if both derive from the same camera, add the experts of ToothPic who in April obtained the concession from the European Patent Office of two of the four patents that protect its innovative multifactor authentication technology.

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