Ever since payments first began flowing across e-commerce websites in the 1990s, fraudsters have targeted online victims. Over time, the attack surface for financial crimes has expanded with each technological advancement. As digital payment channels proliferated—from early digitized payments to the emergence of mobile payments, cryptocurrency, peer-to-peer payment options, and new national payment systems—the number of potential targets has grown exponentially. The volume of digital payments has risen along with the number of payment channels. McKinsey valued global digital payment revenues at $2.2bn in 2023, up 11% from 2022.