Digitization continues at an impressive pace, and fraudsters continue to ply their trade in the digital channel, driven by economic uncertainty and near-record levels of identity theft and data breaches. As fraud executives struggle to modernize their control frameworks, some patterns are emerging in terms of how many are prioritizing their investments.

This report examines contemporary trends in the two most prominent forms of fraud in the digital channel (account takeover and authorized payment fraud scams), patterns in how FIs are controlling for fraud in the digital channel, and the market drivers that influence investment priorities now and over the next one to two years. Based on research sponsored by DataVisor, the report is primarily informed by interviews with 13 North American fraud executives from FIs ranging in size from US$7 billion to US$1 trillion in assets conducted between July and October 2023.

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

This report mentions the Identity Theft Resource Center.