2022 Financial Fraud Trends & Predictions
- Date:November 15, 2021
- Author(s):
- John Buzzard
- Report Details: 9 pages, 3 graphics
- Research Topic(s):
- Fraud & Security
- Fraud Management
- PAID CONTENT
Overview
Technological advancements have improved fraud detection in a very short period. The advancements in machine learning techniques and rising consumer sentiment toward a more password-free society speak to a degree of optimism that cannot be marginalized or overshadowed by other problems that are more reflective of modern times. A global microchip supply shortage is affecting multiple industries, from automobiles to payment card issuers. Global identity trust is poised to expand as mobile device manufacturers attempt to prove that mobile wallets, complete with heavy encryption, and universal identity do indeed have an affinity for each other and that physical forms of government-issued identification can exist in plastic and digital forms without risk. The final challenge for every financial institution is how to strategize, grow into and scale out the positive aspects of password-free, supply-challenged, and digitally forward movements that will dramatically affect how consumers connect with their financial-services providers and remit their payments across a wide stratum of digital opportunity. The following fraud predictions are three simple examples of how regressive a supply-chain issue can be on routine commerce even as changing attitudes and improved technology will propel digital advancement by the equivalent of years within mere months.
Interested In This Report
Related content
Wealth Management Fraud: An Easy Target for Scams
Traditional identity fraud and identity fraud scams are equal-opportunity crimes, in that anyone with a digital footprint is a potential target. But as affluence rises, so does con...
P2P Scams and Fraud: Addressing Financial Institutions’ Precarious Position
Peer-to-peer (P2P) payments are essential in a world where cash is less commonly carried, digital transactions are popular and convenient, and ease, privacy, and security drive con...
2023 Know Your Customer Solution Scorecard
Know Your Customer (KYC) protocols are the bedrock of robust identity verification. Understanding at a granular level whom an organization is doing business with translates into a ...
Make informed decisions in a digital financial world