2021 Financial Fraud Trends
- Date:December 09, 2020
- Author(s):
- Tracy Kitten
- John Buzzard
- Report Details: 11 pages, 3 graphics
- Research Topic(s):
- Fraud Management
- Fraud & Security
- PAID CONTENT
Overview
The combination of exponential growth in digital channels and advanced criminal methodologies will lead to a more complicated series of problems that have to be solved through technology. Consumers, and less-than-safe payment habits, will serve as a rich opportunity for criminals to once again perpetrate more fraud by using consumer naiveté as the ultimate battering ram against financial service providers. The efforts of financial institutions to provide a seamless and secure consumer experience will be tested to its limits by scams that target consumer accounts in a battle for access to everything from mobile devices to person-to-person (P2P) payment tools. Merchants expanding into digital commerce for the first time will begin to fall prey to mature threats such as malware while being exposed to more sophisticated and automated threats that include credential-stuffing attacks, scan-and-go fraud, and the exploitation of vulnerabilities within merchant apps and payment processing software.
Learn More About This Report & Javelin
Related content
2024 Identity Fraud Study: Resolving the Shattered Identity Crisis
The Javelin Strategy & Research 2024 Identity Fraud Study provides a comprehensive analysis of fraud trends in the context of a changing technological and payments landscape. Its g...
Pig Butchering Scams: How Banks Can Stop the Slaughter
Pig butchering is a devastating, multilayered, drawn-out investment scam that leaves victims with nothing. By implementing robust customer education, employing effective fraud dete...
2024 Authentication and Identity-Proofing Vendor Solutions Scorecard
Identity-proofing, a fundamental need of financial services companies, is a space in considerable flux. Fintech companies that cut their teeth as e-commerce payments platforms are ...
Make informed decisions in a digital financial world