On the Precipice of the Scampocalypse
Legacy fraud controls are failing to detect many social engineering scams as the criminal does not interact directly with the banking platform and instead convinces the victim to execute the payment themselves. Traditional device, IP and location-based authentication controls will thus appear genuine. This, combined with the lack of consistent frameworks for defining and measuring this type of fraud, has paved the way for potential disruptions in the form of increased regulatory pressure and a deterioration in consumer sentiment.
View the on-demand webinar to learn:
- The driving forces behind increased social engineering scam activity
- Potential regulatory actions that could impact reimbursement models
- Innovative approaches that financial institutions in the U.S. and UK have implemented to mitigate risk
Strategic Advisor, Fraud & AML