Authentication and application fraud controls have consistently dominated the list of improvement initiatives that enjoy top priority. Fraud threats like synthetic identity fraud and mule activity have, historically, been prioritized to a lesser degree. Yet, as the scampocalypse looms ever larger and the uncertainty surrounding shifts in liability for receiving financial institutions persists, the potential for economic incentives for failing to detect and deter money mules proactively grows stronger.

Datos Insights surveyed 32 North American fraud executives who attended Datos Insights’ Financial Crime and Cybersecurity Forum in September 2023 to understand the current and future environment for fraud trends. Datos Insights also interviewed 15 fraud executives from FIs in the U.S., the U.K., Brazil, and India between February and May of 2024 to learn more about how they are managing money mules.

Clients of Datos Insights’ Fraud & AML service can download this report.

This report mentions BioCatch, Early Warning Services, and Payment Systems Regulator.