BAI Executive Report

against fraud

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There’s something about the start of a new year that nudges us to reexamine ourselves and our business operations. Most bankers resolve to strengthen the fight against fraud in 2024, as we explore here in our January BAI Executive Report.

Ever faster and smarter technology, like nearly instantaneous money transfers and the popularization of artificial intelligence, mean that bad actors are more stealth with their financial crimes. For sure, phishing emails have given way to voice cloning and more complex deep fake identities that can take over accounts. And yet it is also technology, including AI, that allows financial institutions to outpace and outthink the fraudsters.

In our January report, we explore many of the latest fraud-fighting innovations: advanced customer identity verification; real-time interdiction for all market sizes; and perhaps most importantly, making sure fraud vigilance doesn’t devolve into customer friction.

Articles in this report include:

Fraud trends spilling into 2024
Account takeovers, phishing, deep fakes and other scams that flourished in 2023 will challenge bank security in the year ahead.

The twin-edged sword of AI
Banks employ the latest artificial intelligence tools to fight fraud, but so do the bad actors.

Zelle taps Hollywood star to fight fraud
The digital payments powerhouse educates consumers on avoiding scams.

Preventing fraud in 2024
Key considerations for digital identity verification in an evolving landscape.

Context-based authentication
Providing maximum fraud protection and an optimized customer experience.

Balancing trust and verification
How banks should be responding to an increase in financial industry targeting.

Beyond detection
Why small and mid-market banks need real-time interdiction in the fight against fraud.

Download this valuable resource to better prepare yourself and your team for the challenges and solutions around detecting and stopping fraud.