Early in 2024, EverC subject matter experts got together and created our 2024 Trends Report. Now that 2025 is here, we wondered – how close did we get? What predictions came true? Let’s walk through some of the trends that came to be this year, and solutions for some of the industry’s greatest challenges.
Wow, we were spot on!
Increased accountability
One of our biggest and most often repeated 2024 predictions was that there would be expanded regulatory accountability across the board for those doing business in ecommerce – including the payments industry, online marketplaces, and even social media platforms.
Examples of the increased accountability we saw in 2024 included:
- Heightened liquidity requirements and enhanced governance and risk practices for banks in the aftermath of the 2023 Silicon Valley Bank collapse.
- The U.S. began to target low-cost Chinese marketplaces with proposed rule-making action in September. The goal is to tighten regulations under the de minimis exemption, which exempts prices under $800 from taxes.
- The EU began considering new taxes and administration fees on low-value products. It also classified several platforms as VLOPs (Very Large Online Platforms) under the Digital Services Act.
- The General Product Safety Regulation (GPSR), which took effect in the EU in December, obligates both sellers and marketplaces to verify product safety.
- LATAM countries are imposing taxes on imported products given the rise of low-cost goods purchased online.
- Marketplaces are being held responsible for the sale of counterfeit items. Regulators expect them to perform their due diligence to protect consumers, and brands also want marketplaces to keep counterfeit versions of their products off the market.
Fortunately, the EverC MarketView solution is designed to assist marketplaces in maintaining compliance and reducing the risk of regulatory or legal action, and damage to reputation. Trusted by the world’s largest marketplaces, MarketView is the only fully automated, AI-driven solution that identifies and eliminates hazardous, counterfeit, and illicit products.
Advent of AI / Gen AI-fueled fraud
In 2024, AI-fueled fraud and disinformation was weaponized by global and domestic threat actors.
In the months leading up to Election Day this past November in the U.S., we saw Russia, Iran and China steadily increase their use of English-language disinformation. Their motives varied, but their tactics were similar: using networks of bogus social media accounts and websites to spread content designed to erode confidence in election security and American democracy. The prevalence of misinformation is a concern that should be monitored in future.
Romania annulled the narrow results of its presidential election due to foreign interference which leveraged social media platforms, particularly TikTok, to promote far-right candidate Călin Georgescu. This operation involved the use of artificial intelligence (AI) tools to amplify pro-Georgescu content and manipulate public perception.
AI can be a valuable tool to fight financial crime
As an early adopter of AI, EverC is well-positioned to understand how this technology can be harnessed – for both bad and good intentions.
Machine learning AI helped the U.S. Treasury Department to sift through massive amounts of data and recover $1 billion worth of check fraud in fiscal year 2024 alone That’s reportedly triple what the department recovered in FY 2023.
AI is also playing a crucial role in anti-money laundering (AML), which the Securities and Exchange Commission (SEC) recognized as a top risk area for 2024 in its annual Examination Priorities report.
Financial services companies are leveraging AI-driven solutions like EverC’s MerchantView to provide a clearer picture of their holistic risk. MerchantView monitors merchants at onboarding and then continuously, revealing connections to suspicious websites that signal merchant risk.
Friendly fraud increased
We predicted a spike in friendly fraud, but how much did friendly fraud actually increase? A Merchant Risk Council 2024 Chargeback Field Report revealed that nearly three-fourths of merchant respondents reported an 18% average increase in friendly fraud over the last three years. And close to half of the merchants surveyed said that friendly fraud was responsible for half or more of their chargebacks.
Counter-terror financing regulation and enforcement intensified after Oct 7
After the Hamas attack on Israel in 2023, we predicted an uptick in regulations to prevent terrorist financing, and here are few examples of what we’ve seen around the world:
- Australia introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment (AML/CTF) Bill in 2024.
- The U.S. Department of the Treasury sanctioned individuals and entities in Europe and Gaza linked to Hamas's financial operations.
- EU member states bolstered collaborative efforts to track and disrupt terrorist financing.
Hate & harm groups are still active and doing damage IRL
Unfortunately, as we predicted, there is still no shortage of hate and harm groups in the world. Evidence of this was seen post-election in the U.S. when racist text messages were sent to African Americans in a number of states like Texas, New York and Virginia, prompting an FBI investigation. Another example occurred in July in the U.K. when members of a far-right group committed violent acts, including damaging a mosque and injuring police, during a vigil for three young girls who were killed at a dance school.
Regulators are cracking down on social media platforms
As we predicted, regulators are beginning to crack down on social media. For instance, Australia banned social media for kids under 16. Brazil temporarily banned X. And TikTok may be banned in Canada and the U.S. due to national security concerns. In the EU, all major social media outlets now fall under Digital Services Act.
Reporting Beneficial Ownership is still a priority
The UK has pledged its firm support of fully public beneficial ownership registers of foreign entities owning UK property. In the U.S., the Corporate Transparency Act (CTA) which requires beneficial ownership disclosure is still in force; however, in December 2024, a U.S. District Court in Texas issued a nationwide preliminary injunction against enforcement of the CTA, questioning its constitutionality and impact on small businesses. It is possible that the inbound Trump administration will direct the Treasury Department to review the CTA, delaying enforcement.
EU Digital Markets Act leverages enforcement actions for designated gatekeepers
As we discussed in our 2024 report, designated gatekeepers were held accountable and faced enforcement action in 2024. Here are a few examples:
- Meta-> In July 2024, the European Commission issued preliminary findings indicating that Meta's advertising model, which required users to either consent to personalized data collection or pay for an ad-free experience, violated the Digital Markets Act (DMA). The Commission argued that this approach limited user choice and failed to offer a free alternative without personal data exploitation. Meta faces potential fines up to 10% of its global revenue if found in breach.
- Apple -> In June 2024, EU regulators accused Apple of contravening the DMA by restricting app developers from directing users to alternative purchasing options outside the App Store, potentially leading to fines up to 20% of Apple's global annual revenue.
- Google -> In November 2024, DuckDuckGo urged the EU to initiate further investigations into Google's adherence to the DMA, alleging non-compliance in facilitating user transitions to rival services and potential favoritism of its own products.
Crystal ball a bit cloudy?
Fentanyl: Remains a problem, but there is hope for solutions
Fentanyl production in North America is still a huge problem; however, seizures actually declined in 2024 as U.S. and Mexico got tougher on cartels. Since taking office in October 2024, Mexico's new leader, President Claudia Sheinbaum, intensified efforts to combat fentanyl production in the region. Her administration promises to implement a data-driven strategy that includes enhanced policing, social spending, and the deployment of specialized task forces to regions like Sinaloa to dismantle cartel operations.
The ENABLERS Act: Still stalled
Although we thought it would have gained more traction by now, the Enablers Act still hasn't passed into law — so gatekeepers in the U.S. can continue to abuse regulatory loopholes.
These challenges continue: Need a better solution?
With a clearer understanding of the trends EverC predicted for 2024 that became a reality, we know what to expect as we move into 2025. Now, let’s look at the solutions that can enable your organization to navigate these challenges – and any new ones that crop up in the coming year.
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