Digital banking fraud has been going on for as long as banks have been online, but the techniques are constantly evolving and increasingly sophisticated.
From circumventing customer verification workflows with AI deepfakes and forged documentation to elaborate social engineering scams and bot-driven card testing, it often feels like bad actors are always one step ahead. With 1 in 20 verification attempts now fraudulent, and global losses projected to reach $58.3 billion by 2030, it's clear banks need to strengthen their approach to fraud detection and prevention.
Here's what our digital banking research platform FinTech Insights tells us about how they're currently tackling the issue.