2024 Digital Banking Fraud Trends in EMEA
Dig in, reinforce your digital battlements, and mount a state-of-the-art defense against the ceaseless onslaught of fraudsters and scam artists with BioCatch’s report on fraud trends in Europe. The latest research from the creators of a next-generation financial crime-detection and -prevention portfolio powered by behavioral biometric intelligence highlights the most prevalent types of fraud plaguing the continent’s financial institutions in 2024.
In this report, you’ll discover:
- Everything Happens on Mobile: 75% of reported fraud cases among BioCatch’s European customers took place on mobile devices, up 6% from 2022.
- More Stolen Devices Used for Fraud: Stolen-device cases reported to BioCatch rose by 43% in the region, with the UK and Spain accounting for the brunt of the increase.
- Mules Are Everywhere: BioCatch’s Mule Account Detection solution identified more than 10,000 mule accounts among the company’s European customers.
- The UK an Outlier: The voice scams plaguing the rest of the continent fell by 25% in the UK last year. Account-takeover (ATO), meanwhile, started to rise again, with its slice of the total fraud pie growing by 13%.
- Regulations Forcing Fraudsters to Pivot: As banks tighten digital security to align with ever-changing regulation aiming to protect fraud victims, bad actors have begun to change their tactics, leading to an explosion in social engineering scams across the continent.
Download now and fortify your defenses against fraudsters with BioCatch’s insights on the ever-evolving world of digital banking fraud in EMEA.