Fraud prevention is a largely thankless but nonetheless immensely important task. From emerging trends like the growth of scams inducing account holders to authorize payments, to the scaling-up of pervasive AI-powered attacks, the financial ecosystem is under siege.
Despite heightened awareness around fraud and rapidly improving detection and prevention tools, fraudsters are responding by deploying increasingly sophisticated techniques to find new and inventive entry points to exploit.
Ahead of "International Fraud Awareness Week," beginning November 17, this in-depth article breaks down the evolving threat of payments fraud and how the financial services industry can build a stronger defense.