Conclusions
The use of digital wallets is on the rise and is likely to continue to grow. During the COVID-19 era, the
global use of digital wallets on online sites has increased by 6.5%. However, the rise in the use of digital
wallets for contactless payment in stores has declined, this resonates with the quarantine and
recommendations to stay home during these times.
During this research we found that threat actors also use digital wallets as a way of paying for the sale
of illegal products. Along with that, we found that the threat actors have several intentions in the
context of digital wallets and that as expected the discourse increases, alongside the growth and
increase of use of payment applications.
The digital wallets cybercrime world is still in its infancy. Our databases contain 93,363 publications
related to digital wallets from 2020 and we anticipate this number will increase as the number of users
around the world continues to grow. It can be anticipated that digital wallets related cybercrime will
become as popular as other financial cybercrimes, with digital wallets becoming a prime target of
different threat actors.
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