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Cybercrime is a serious threat to the global economy, destroying livelihoods, sowing distrust, and undermining growth. One forecast has it costing more than $15 trillion annually by the end of the decade. If so, only the GDPs of the U.S. and China are bigger. Theres cause for hope, though. As cyberthreats evolve, innovation is meeting the challenge. New solutions are leveraging AI, real-time threat intelligence, collaborative networks, and advanced authentication technologies. A GROWING PROBLEM Consider the figures. Malicious bots may now account for a third of internet traffic. AI-generated phishing attacks have multiplied tenfold in just a year, and a quarter of cryptocurrency transactions are due to criminal activity. In some parts of the world entire cities have been drawn into the scamming industry, while a black market in stolen data and hacking tools is tightening its hold on the dark web. Here are four reasons digital crime is booming: 1. Hyperconnectivity: More ways in More connected devices, interdependent systems, and endpoints mean a more exposed digital ecosystem. In the U.S., the number of cyber-vulnerabilities catalogued in the National Institute of Standards and Technology database increases yearly, currently standing at over 315,000. Due to a backlog, over 25,000 of those vulnerabilities currently await processing. 2. Hostile agents: Autonomous threats AI is rapidly scaling cybercrime by enhancing attacks with increasing sophistication. Chief information security officers are reporting a surge in AI-driven criminal phenomenadeepfake fraud has quadrupled in a year, for example. The rapid introduction of AI to the workplace is also creating vulnerabilities. The World Economic Foundation reports that most organizations have no process in place to assess the risk of this transformation. 3. Democratization: Cybercrime as a service The boom is accompanied by a burgeoning industry in tools and services that are lowering the barriers to entry for aspiring cybercriminals. Most cyberthreats are now generated by off-the-shelf toolkits that sell for as little as $25 on the dark web. Recent high-profile attacks on UK retailers were facilitated by the ransomware as a service platform DragonForce. 4. Money laundering: High-speed rinse AI helps money launderers scale their operations with remarkable efficiency, automating complex transactions across accounts and jurisdictions.According to the United Nations Office on Drugs and Crime the amount of money laundered each year is equivalent to 2-5% of global GDP. Earlier this year the worlds biggest crypto heist saw $1.5 billion stolen and laundered within minutes, using thousands of accounts across multiple blockchains and cryptocurrencies. HOW INNOVATION IS REINVENTING CYBERDEFENSE The good news is were seeing unprecedented levels of innovation in cybersecurity and fraud prevention. Four trends stand out. 1. Real-time intel: Early warning systems The demand for real-time automated threat intelligence is surging as companies offer services leveraging AI to predict and mitigate risks. Threat intelligence platforms enhance decision making by correlating vast amounts of data about emerging threats, attack methodologies, and vulnerabilities. Threat intelligence encompasses malware analysis, vulnerability assessment, and malicious actor monitoring on both the surface web and dark web. 2. The agentic age: Proactive security Cybersecurity is evolving from reactive threat mitigation to autonomous, proactive defense systems that leverage agentic AI to predict, detect, and neutralize threats before they cause damage. Automated security tools continuously analyze network traffic, endpoint activities, and system behavior to identify anomalies indicative of cyberattacks. These solutions can examine the parties in a financial transaction and assess risk for the likelihood of scamming or other criminality. It can also map those behaviors and relationships to high-risk or suspect accounts, all within a second. This gives banks the opportunity to block payments before they leave accounts. 3. Sharing: Insights, not data Collaboration is increasingly becoming the norm, with organizations forming alliances to exchange threat data, fraud news, insights, best practices, and defensive techniques, strengthening collective resilience against cyberattacks. Trust networks using privacy-enhancing technologies are one way of ensuring that intelligence sharing is configured for specific activities, such as fraud or identity theft, without sharing underlying data. Another model for sharing insights, not data, is federated learning. One estimate says the market for these platforms, which use privacy-enhancing technology to improve fraud detection accuracy, will double by the end of the decade. 4. Continuous authentication: 24/7 validation The commoditization of personal data, fuele by dark web marketplaces and AI-driven fraud tactics, is being met by innovation in identity verification and authentication. Continuous, or always-on, authentication offers dynamic security in a rapidly changing threat environment. It leverages behavioral analytics, biometrics, and identity networks to determine on a rolling basis whether devices and users should be trusted. Meanwhile, tokens and passkeys have become the twin turbo of fraud prevention, minimizing the exposure of sensitive data while creating new opportunities for exchange. TOWARD A SAFER FUTURE Cybersecurity is often cast as an arms race, in which threat and response evolve in tandem and in tension. Even as emergent technologies create new opportunities for cybercriminals, theyre offering more effective ways of thwarting them. Agentic AI, real-time threat intelligence, behavioral analytics, and advanced identity technologies offer the prospect of a cybersecurity thats smarter, faster, and more resilient. This means countering autonomous threats with more vigilant agentic defenses. It means countering identity fraud with smarter verification and money laundering with more discerning intelligence. Thats how we turn a string of scary headlines into a healthy digital ecosystem. Ken Moore is chief innovation officer at Mastercard.
Category:
E-Commerce
As the founder, chair, and CEO of the Exceptional Women Alliance, I am privileged to work alongside extraordinary women leaders who reshape industries and redefine what leadership looks like. Within this sisterhood, we challenge, support, and elevate one another, sharing not just professional expertise but a commitment to lead with impact. Nicole Brownell is one of those leaders. She is a COO and growth strategist whose work sits at the intersection of digital transformation, product innovation, and behavioral intelligence. She has guided companies through scaling, designed GTM strategies that combine creativity with analytics, and she focuses on using data to deepen connections with both customers and teams. Her perspective is clear:Digital transformation only matters if it creates human connection. Q: You say digital transformation isnt just about technology. What do companies often get wrong? Brownell: Too often, organizations confuse transformation with digitization like migrating systems, adding dashboards, or adopting AI tools. Technology alone doesnt drive growth; people do. True transformation comes when data is elevated into performance intelligence to predict needs, when it creates seamless experiences, and when it fosters connections. The same principle applies to leadership. Data can track KPI performance, plus people are more engaged when leaders pair analytics with recognition and understanding. Whether motivating a team member or a customer, the equation is the same: Intelligence + humanity creates impact. Q: What role does data play in understanding and connecting with customers? Brownell: Consumer data is often treated as a compliance exercise of counting clicks, tracking transactions, and slicing demographics. Thats not intelligence, thats inventory. Intelligence surfaces in patterns: how a traveler chooses, movement from discovery to purchase, loyalty motivators. Translating these patterns into insight gains us connection at scale. Personalization increases conversion by deepening the touchpoint. Q: You focus on behavioral research. How do generational differences affect personalization strategies? Brownell: Gen X is often overlooked, but they control nearly a third of U.S. household income. They value efficiency and trust and are brand loyal, but expect respect for their time. Contrast that with millennials, who are more likely to buy from brands aligned with social and environmental values. And then Gen Z, who expect instant, personalized interaction and are quick to move on if brands feel generic or disconnected. One-size-fits-all marketing is obsolete. If youre not tailoring your message, youre leaving growth on the table. When brands get it right, its significant value Q: Youve said the future of advertising is less about media buys and more about messaging management. What do you mean? Brownell: Advertising used to be about reach. Today the advantage is relevance. Messaging management is orchestrating the content across channels (paid, owned, and earned) in a way that feels anchored and consistent to the consumer. Future-ready organizations will treat data as the fuel for message intelligence, moving beyond campaign reporting into predictive personalization, anticipating not just what a customer did, but what they are likely to do next. Advertising becomes transformative when every message feels less like a pitch and more like a conversation Q: Whats the risk if companies dont embrace personalization now? Brownell: Irrelevance. Consumers today have more choices than ever before, and know it. If your messaging feels generic, disconnected, or poorly timed, someone else is ready to step in with a brand experience that feels authentic and aligned with their needs. The cost of inaction is slower growth through churn, declining loyalty and missed opportunity. The brands that hesitate today will find themselves playing catch-up tomorrow, and thats costly. Q: Looking ahead, what excites you most about this shift? Brownell: The potential of rehumanizing technology for impact. While tech can sometimes feel like it creates distance, when applied well it enables connection at scale without sacrificing authenticity. It accelerates the outcomes we create. Thats powerful. This applies inside companies too. Technology should be our accelerant, not our substitute. Our role is to use it to amplify human judgment, creativity, and innovation alongside efficiency. Otherwise, what are we really building? The future of growth wont be decided by who has the most data, but by who turns data into intelligence that builds trust, loyalty, and connection. Those companies wont just compete, theyll endure. Nicole reminds us that digital transformation is not defined by the tools we adopt, but by the trust we create. Her clarity in datas elevation into performance intelligence, which is the connective tissue across customers and teams, offers a roadmap for leaders who want to keep pace and drive growth that endures. Larraine Segil is founder, chair, and CEO of the Exceptional Women Alliance.
Category:
E-Commerce
Last week, Fast Company reported that regional banking giant TD Bank is planning to close more than 50 U.S. locations by the end of January. But TD Bank isnt the only regional bank closing branches. In October, Citizens Bank disclosed that at least 14 branches throughout the United States will shutter, according to public filings. Heres what to know and where they are located. Why is Citizens Bank closing branches? Reached for comment by Fast Company, a Citizens Bank spokesperson said that its retail footprint is constantly changing along with people’s banking habits. “We regularly review customer banking patterns and make thoughtful adjustments, opening new locations, modernizing existing branches, and consolidating where usage has shifted, to meet customers needs in the most effective way,” the spokesperson said in a statement. “As part of this ongoing process, we will be closing select locations in early 2026.” The bank says customers in each of the affected markets will continue to have additional choices, such as “nearby branches, as well as our robust online mobile banking platforms.” It further said that its retail operations have grown 14% since 2020. For several years now, national and regional banking chains have been reevaluating, and in many cases scaling back, their physical footprints for multiple reasons. These reasons include falling foot traffic to branch locations as customers increasingly shift to online banking and mobile apps. As foot traffic falls, those branches tend to generate fewer new customers, so banks stand to make a lower return on the investment in running those physical locations. According to Citizens Banks website, the bank had 1,000 branches and 3,100 ATMs as of June 30 of this year. (For context, its parent company said it had “more than 1,100 locations” in an earnings report two years earlier.) In July, Citizens Bank announced a slew of new features to bolster its mobile offerings, including a refreshed direct deposit experience and the ability to update payment methods for online retailers and subscriptions. The company also maintains a dedicated web page titled Citizens Bank Branch Closures, which appears designed to give customers information on digital methods they can use if their local branch has closed. However, the page does not yet list the closures planned for 2026. How many locations are closing? Citizens Bank operates branches in 14 states and the District of Columbia. The 14 closures disclosed in two recent filings will impact branches in half of those states: Ohio (5 closures) Massachusetts (2 closures) New Hampshire (2 closures) New York (2 closures) Michigan (1 closure) Pennsylvania (1 closure) Vermont (1 closure) The company did not say if additional closures are forthcoming. Which Citizens Bank branches are closing? According to data published in two different tranches by the Office of the Comptroller of the Currency (OCC), Citizens Bank in October disclosed that it will shutter at least 14 locations. The bank told Fast Company that the closures are expected early next year. They include: Ohio 9231 Chillicothe Road, Kirtland, OH 8806 Ohio River Road, Wheelersburg, OH 3528 Tuscarawas St. W., Canton, OH 1460 S. Byrne Road, Toledo, OH 1165 E. Waterloo Road, Akron, OH Massachusetts 225 Cambridge St., Cambridge, MA 673 VFW Parkway, West Roxbury, MA Michigan 100 W. Broad St., Chesaning, MI New Hampshire 581 Franklin Pierce Highway, Barrington, NH One Constitutional Way, Somersworth, NH New York 131 East 57th St., New York City, NY 6708 Route 9, Rhinebeck, NY Pennsylvania 101 Commonwealth Drive, Warrendale, PA Vermont 1108 Vt Rt. 149, West Pawlet, VT How is Citizens Financial Groups stock doing? Citizens Bank is owned by Citizens Financial Group (NYSE: CFG), which is headquartered in Providence, Rhode Island, and was founded nearly 200 years ago. In its most recent financial report, for Q3 2025, the company reported a net income of $494 million and an earnings per share (EPS) of $1.05. As of yesterdays market close, CFG shares were trading at $52.24. That represents a nearly 20% increase since the year began. Over the past 12 months, CFG shares have risen more than 12%. Citizens Bank says it currently has total assets of nearly $220 billion and total deposits of around $175 billion.
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E-Commerce
Asked what viewers should expect when television’s MSNBC makes its corporate divorce from NBC News final this weekend, network president Rebecca Kutler points to a poster on the wall of a conference room at its new offices off Times Square. Its message reads: Same Mission. New Name. To me, that encapsulates exactly what we need to be saying, Kutler said. Our job in the next few weeks is to flood the zone … and make sure they know the thing that they love will be the exact same thing on Nov. 15. Saturday is when MSNBC officially becomes MS NOW, standing for My Source for News, Opinion and the World. That’s the most visible manifestation of parent company Comcast’s decision to spin off most of its cable networks into a new company known as Versant. It’s tough enough when one partner tells another that they’re leaving for someone new. In this case, they’re just leaving the partner behind; a cable television network is considered such a diminishing asset in today’s media world that giant companies would rather be free of them. A lot of us really didn’t know what it meant, said prime-time host Jen Psaki, and it didn’t feel great initially. Embracing the ethos of a startup Left on its own, MS NOW is embracing the ethos of a startup, suggesting it will be better positioned to experiment without ties to the more corporate NBC News. Morning Joe is starting its own newsletter. Podcast ideas are encouraged. The network is expanding live events, letting its television stars interact with the audience; Rachel Maddow has one in Chicago later this month. I didnt see this as a divorce, said nighttime host Michael Steele. I see this as the kid growing up and leaving home. We all know what thats like. As Kutler says, the network’s focus on news and commentary with a liberal perspective remains intact. So does its lineup of stars Maddow, Nicolle Wallace, Ari Melber and the like. MS NOW has built its own reporting and support staff, and is moving into a new headquarters west of Broadway in Manhattan that is, not incidentally, the former longtime headquarters of The New York Times. The new office, tricked out with the latest electronics, ends one geographical oddity: No longer are the political polar opposites MSNBC and Fox News Channel located across Sixth Avenue from one another. The MS NOW news staff has about three dozen reporters, among them Washington Post alums Jackie Alemany and Carol Leonnig. It has signed partnerships with Sky News for international reporting and AccuWeather for forecasting. Being divorced from NBC News gives it the opportunity to make deals on its own to supplement its cable existence, said longtime broadcast and cable news executive Kate O’Brian, who spent several years at ABC. They have a strong identity and a built-in audience of people who oppose President Donald Trump, she said. They’re lean, nimble and niche, putting them in a better position to adapt to any emergent platforms, O’Brian said. MS NOW is leaner in audience than MSNBC was a year ago. The network’s prime-time weekday average of 1.17 million viewers this year is down 29% from 2024 a number linked in large part to its viewers’ disappointment at the presidential election results. Fox News Channel, popular with Trump supporters, is up 14% to 3.11 million viewers. Yet MSNBC has roughly twice the audience of CNN, which saw an identical 29% decrease in viewers over the first nine months of 2025. MSNBC was also buoyed by a strong election night performance where it ran neck-and-neck with Fox, even while missing the khaki-clad numbers nerd, Steve Kornacki, who chose to remain with NBC News. MS NOW’s freedom appealed to reporters Jacob Soboroff, who chose it over NBC News, and Rosa Flores, who said she is joining the newly-named network from CNN primarily because she sees the opportunity to do a greater variety of things beyond the immigration beat she’d been covering. All the legacy news organizations are trying to make their way, Flores said. I felt like being part of a news organization that was building solutions from the ground up was so unique that I wanted to be a part of it. Being part of a news operation with a clear political identity was not a barrier for Soboroff. It’s about the people for me, always, it’s not about the politics, he said. I feel like I do what I’ve always done, which is report the facts on the ground, turn them around to our audience and let the audience make up their own minds about what they think. Cleaning out the office at Rockefeller Center The company is spending a reported $20 million on a marketing campaign designed to publicize the changeover, which will include billboards in Times Square, the Grove in Los Angeles and the South Capitol Digital Experience Wall in Washington, D.C. Far cheaper is the mug with MSNBC crossed out and replaced by MS NOW on the set of Morning Joe. Co-host Mika Brzezinski recently cleared out her Rockefeller Center office and reminisced about times that NBC’s Richard Engel and Keir Simmons appeared on their show. We’re going to miss some reporters, she said, and they’re going to miss us. With a rapidly evolving media landscape, success or failure will ultimately be decided by who has the content people most want to see, said her co-host and husband, Joe Scarborough. If this were five years ago, I would have been, Oh, my God, how are we going to do this? he said. Everything is so fluid now. David Bauder, AP media writer
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E-Commerce
Artificial intelligence company Anthropic announced a $50 billion investment in computing infrastructure on Wednesday that will include new data centers in Texas and New York. Microsoft also on Wednesday announced a new data center under construction in Atlanta, Georgia, describing it as connected to another in Wisconsin to form a massive supercomputer running on hundreds of thousands of Nvidia chips to power AI technology. The latest deals show that the tech industry is moving forward on huge spending to build energy-hungry AI infrastructure, despite lingering financial concerns about a bubble, environmental considerations, and the political effects of fast-rising electricity bills in the communities where they’re constructed. Anthropic, maker of the chatbot Claude, said it is working with London-based Fluidstack to build the new computing facilities to power its AI systems. It didn’t disclose their exact locations or what source of electricity they will need. Another company, cryptocurrency mining data center developer TeraWulf, has previously revealed it was working with Fluidstack on Google-backed data center projects in Texas and New York, on the shore of Lake Ontario. TeraWulf declined comment Wednesday. A report last month from TD Cowen said that the leading cloud computing providers leased a staggering amount of U.S. data center capacity in the third fiscal quarter of this year, amounting to more than 7.4 gigawatts of energy, more than all of last year combined. Oracle was securing the most capacity during that time, much of it supporting AI workloads for Anthropic’s chief rival OpenAI, maker of ChatGPT. Google was second and Fluidstack came in third, ahead of Meta, Amazon, CoreWeave, and Microsoft. Anthropic said its projects will create about 800 permanent jobs and 2,400 construction jobs. It said in a statement that the scale of this investment is necessary to meet the growing demand for Claude from hundreds of thousands of businesses while keeping our research at the frontier. Microsoft has branded its Atlanta data center as Fairwater 2, after the original Fairwater complex being built near Milwaukee, Wisconsin. The company said it will help power its own technology, along with OpenAI’s and other AI developers. Microsoft was, until earlier this year, OpenAI’s exclusive cloud computing provider before the two companies amended their partnership. OpenAI has since announced more than $1 trillion in infrastructure obligations, much of it tied to its Stargate project with partners Oracle and SoftBank. The tech industry’s huge amount of spending on computing infrastructure for AI startups that aren’t yet profitable has fueled concerns about an AI investment bubble. Investors have closely watched a series of intertwined deals over recent months between top AI developers such as OpenAI and Anthropic and the companies building the costly computer chips and data centers needed to power their AI products. Anthropic said it will continue to prioritize cost-effective, capital-efficient approaches to scaling up its business. Matt O’Brien, AP technology writer
Category:
E-Commerce
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