Reality Bytes: Empowering Consumers Through Fraud and Scams Education
- Date:December 13, 2022
- Author(s):
- Suzanne Sando
- Report Details: 15 pages, 5 graphics
- Research Topic(s):
- Fraud & Security
- Fraud Management
- PAID CONTENT
Overview
Identity fraud scam losses decreased in 2021, but the threat posed by those scams remains real. Cybercriminals might put certain scam tactics on the back burner as they try other approaches in their search for the path of least resistance to ill-gotten gains. After massive losses in 2020, financial institutions and consumers are more attuned to the threats posed by scams, but the attack vectors are always changing.
FIs have a vested interest in ensuring that they are outfitting consumers with the most effective and easily accessed education about the dangers of fraud and scams. When FIs give consumers better tools for financial health and security, they build trust, and long-term loyalty is fostered.
Key questions discussed in this report:
- What are the biggest scam threats consumers face today?
- Where are the gaps consumers have identified in the fraud education experience?
- How are financial organizations faring in effectively informing consumers about fraud and scam threats, and then empowering consumers to protect themselves?
Companies Mentioned:
American Bankers Association, Chase Bank, Republic Bank, U.S. Bank, Vox, Zelle
Learn More About This Report & Javelin
Related content
2024 Identity Protection Services Provider Scorecard
Javelin Strategy & Research’s assessment of vendors in the identity protection services (IDPS) market revealed clear pacesetters overall, led by Best in Class winner Equifax, and a...
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...
Make informed decisions in a digital financial world