COVID-19 has brought severe disruption to workplaces and customers. And in doing so, it's created opportunities for fraudsters to exploit financial services.
Monthly fraud attempts have increased nearly 20 percent at banks and credit unions during this time, raising the cost of fraud by roughly 11 percent at these institutions.
This month’s BAI Executive Report identifies fraud and cybersecurity challenges faced by financial services organizations and offers insights on how to address them.
Pandemic-related fraud: A crisis within a crisis
Smaller institutions are struggling to stay ahead of the crooks as COVID-19 scams hit community banks and their customers.
Combating fraud from the very start
Banks are addressing account opening weaknesses as criminals exploit pandemic related security gaps.
Profitable defense against financial crime
Using a holistic approach featuring automation and analytics can mitigate risk, deliver a better CX and generate revenue.
Small business has a big fraud problem
10 ways to minimize the risk and deal with the outsized impact of schemes and scams.
Anti-fraud technology with a human touch
AI and machine learning solutions are rooting out hidden risks, while enhancing the customer experience.
Security without compromise
As ATMs become more sophisticated, so must your security measures to thwart physical and online attacks.
Better verification with less friction
Ramping up your authentication standards doesn’t have to mean sacrificing customer experience.