Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Local founders say the country’s payments reboot and AI breakthroughs could put B.C. at the centre of financial innovation. One day before the Bank of Canada announced it had approved the country’s first payment service providers under the new Retail Payment Activities Act, leaders from Vancouver’s growing sector gathered for a conversation that felt prescient. At.

Around the world, banks and payment processors are reporting an explosion of mysterious tap-to-pay transactions happening nowhere near real cardholders. The European Association for Secure Transactions (EAST), for instance, has tracked a 1,500% surge in these relay-based attacks over the past year, with incidents stretching from Santiago to Singapore.

As digital fraud rises across Africa, INETCO’s Eren Ramdhani explains why banks must rebuild trust through real-time, AI-driven fraud systems. Article by cybersecurity leader and INETCO’s Chief Product Officer, Eren Ramdhani Trust is the most valuable currency in today’s digital economy. For banks, it determines whether customers feel confident enough to save, invest, and transact. Yet across Africa, millions of people face daily fraud attacks that threaten that trust.

INETCO has been recognized as a Sample Vendor in the Gartner Hype Cycle for Fraud and Financial Crime Prevention, 2025. We hold the view that this recognition confirms what our customers already know: INETCO is redefining how financial institutions and payment service providers outsmart fraudsters, stay compliant and keep their customers safe.

Picture this: Your payment network appears to be running smoothly, yet subtle inconsistencies in transaction data start to emerge. Authorizations are delayed or altered, and some backend calls never trigger. This isn’t just another case of stolen credentials or card fraud — it’s a devastating man-in-the-middle (MITM) attack that has been going on for months.

Picture this: It’s a busy weekday afternoon and your online payment platform is humming with activity. Suddenly, everything slows down. Customers complain that transactions are failing, your website goes offline, and your team scrambles to figure out what’s happening. The culprit? A Distributed Denial of Service (DDoS) attack.

Picture this: Unusual card-present transactions, processed through a POS tap terminal that shouldn’t even exist on your network, suddenly light up your fraud-monitoring dashboard. Your heart sinks as you realize you’re dealing with something far more dangerous than a stolen card. It turns out that a rogue terminal has been siphoning funds — and evading detection — for days.

Picture this: You’re in the middle of dinner with friends when your work phone buzzes. It’s the fraud supervisor with alarming news: Low-value transactions are suddenly flooding your servers. Your gut tightens as you hastily excuse yourself and head straight to the office to help secure your customers’ accounts against what turns out to be a Bank Identification Number (BIN) attack.

Newly patented transaction firewall sets a new standard in payment protection, leveraging self-learning technology that instantly blocks emerging threats, payment fraud and cyber-attacks with greater precision.