Scams: On the Precipice of the Scampocalypse

Scams: On the Precipice of the Scampocalypse

Social engineering scams are on the rise globally. Last year, these scams increased 57% with an average lost of $1,029 USD per victim. Aside from the inability of legacy fraud controls to detect real-time social engineering, the circumstances of a scam can influence liability if the parties involved are unable to recover the funds. This creates a huge reputational risk for financial institutions and emotional distress for the consumers they serve.

Download the latest research from Aite-Novarica which examines scam activity globally and provides insights on:

  • The challenges of defining and measuring scam activity
  • Potential regulatory actions that could impact reimbursement models
  • Innovative solutions that can predict anomalous patterns of interactions and transactions

Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing, you agree to our use of cookies.