Listen "How Can Global Marketplaces Master Payment Security and Combat Fraud?"
Episode Synopsis
"In this technology-centric world, where we see new advantages, new paths, new adventures, at the end of the day, the other side of the screen is always a human being,” Bartosz Skwarczek, Founder & President at G2A Capital Group, reflectively said. The quote sets the tone of the recent episode of The Security Strategist podcast. In this episode, Shubhangi Dua, Podcast Host and Producer, sits down with Skwarczek, an award-winning CEO recognised by Forbes. They talk about the evolution of online marketplaces, the importance of security, and the role of people in business. They discuss the challenges of operating a global marketplace, the significance of diversity in teams, and the future of payment security technologies. Bartosz emphasises the importance of a proactive approach to cybersecurity and the use of AI in business operations. He also highlights the essential role of human values and communication in creating a successful organisation.Proactive and Multi-Layered Approach to CybersecuritySecurity is a top priority for G2A, Skwarczek articulated. He adds that it's a "constant improvement" and a "kind of battle that you have with the bad actors." To stay "one step ahead of attackers," G2A deploys a multi-layered defence strategy.The multi-layered strategy starts with careful monitoring of threat intelligence channels to ensure organisations stay on top of the latest threats, vulnerabilities, and methods used by malicious actors.A dedicated incident response team has clearly defined roles and responsibilities. They can respond immediately to any security incidents, especially those related to different types of fraud, such as friendly fraud (chargeback fraud) or traditional credit card fraud. Skwarczek says that employee training is extremely important. G2A conducts mandatory training every month for its employees, assuring they know how to avoid common mistakes like phishing emails. Especially considering that over 3 million phishing emails are sent every day.Skwarczek also emphasises the importance of these ongoing audits. Alluding to the constantly changing market, He says cyber criminals constantly devise new tricks. This is why frequent evaluations are needed to ensure G2A is moving in the right direction. AI, Blockchain, and the Future of Payment SecurityLooking ahead, Skwarczek talked about the future of payment security. He recognised the complicated relationship between new technologies and strict regulations.The payment industry is inherently "conservative because it's regulated," he added, with extensive regulatory frameworks that ensure the safety of people's money. This intentional pace, however, coexists with rapid technological advancements. Skwarczek specifically pointed to the growing influence of AI and blockchain.While AI offers immense