Trends in Fraud in the Digital Channel: Fraud Inc. Pivoting to Scams

Growing scam activity means that FIs must engage their customers more deliberately to increase awareness and vigilance.

Boston, December 8, 2021 – As the pandemic disrupted nearly all aspects of commercial and social activity, significant numbers of consumer and commercial customers accelerated their migration to the digital channel. These disruptions and several other drivers led to shifts in digital fraud patterns—patterns suggesting that the fraudsters are now poised to expand their efforts to target consumer and commercial customers directly through account takeovers and, increasingly, scams.

This report examines trends in the growth of account takeover and scams, the drivers behind them, and trends in how fraud executives are balancing loss mitigation, client experience, regulatory compliance, and operating efficiency. The report is informed by interviews with 18 North American fraud executives from 17 banks and one credit union between August and October 2021. A survey of 32 North American fraud executives who attended Aite-Novarica Group’s 2021 Financial Crime Forum in September 2021 provides additional insights.

This 33-page Impact Report contains 15 figures and seven tables. Clients of Aite-Novarica Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Accelitas, Accertify, ACI Worldwide, Acuant, Apility, ArkOwl, Arkose Labs, Au10tix, AuthenticID, Aver, BAE Systems, BehavioSec, BlockPass, BioCatch, Boku, Bottomline Technologies, Brighterion, Callsign, Cleafy, Daon, DataVisor, Deduce, Digital Shadows, Easy Solutions, Ekata, Entersekt, Entrust, Equifax, Experian, F5, Facebanx, Facepoint, Featurespace, Feedzai, FICO, Fourthline,, FraudHunt, GIACT (a Refinitiv company), GBG Group, IBM Trusteer, IBMx, IDMERIT,, iDenfy, IDology (part of GBG), Incognia, INFORM GmbH, Intellicheck, IPQualityScore, Ipsidy, Jumio, Kofax, LexisNexis Risk Solutions, Mati, MaxMind, Melissa Global Intelligence, Mitek Systems, Monapi, Neothone, NetGuardians, Neuro-ID, NICE Actimize, NuData Security, Neustar, OneSpan, Oneytrust, Onfido, Oracle, Outseer, Paycasso, Pelican, Pindrop, Precognitive, ProofPoint, Prove, Revelock, RiskIQ, SAS, Samsung SDS, Secured Touch, Shufti Pro, Simility, Socure, SpyCloud, ThreatMark, TowerData, TransUnion, Trulioo, Trusona, TypingDNA, Veratad, Veridas, XTN Cognitive Security, Yoti, ZeroFox, ZignSec, and Zumigo.

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