The increase in scam activity in markets around the world and the uniquely challenging nature of the threat that they pose to the core value proposition of all FIs may be nearing crisis proportions. This global challenge has intensified the market for fraud detection solution providers to bring innovations to a portion of the market that has been poorly served. The dynamics of this increasing market opportunity are complicated.

This report examines the trends in scam activities globally, the activity among FIs and solution providers working to control scams, and the patterns in market forces and conditions that influence these patterns of control. It is informed by interviews with 13 North American fraud executives from FIs with US$7 billion or more in assets between July and October 2023, and by interviews with two fraud executives from the Philippines, two fraud executives from Brazil, and three fraud executives from Australia.

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

This report mentions ANZ, Australian Financial Crime Exchange, Commonwealth Bank, DataVisor, Featurespace, Febraban, Feedzai, NAB, and WestPac.