Why Scams Are a Growing Threat to Financial Institutions
- Date:August 19, 2021
- Author(s):
- John Buzzard
- Report Details: 17 pages, 5 graphics
- Research Topic(s):
- Fraud & Security
- Fraud Management
- PAID CONTENT
Overview
This report provides a blueprint for understanding how scams infiltrate an organization systemically through the consumer, with the result being an erosion of confidence in banking and huge profits for the criminals.
Key questions discussed in this report:
- Why are scams increasing?
- How and when are financial institutions responsible for making scam victims whole?
- Can investments in technology and education reduce the threat of scams?
Methodology
Information in this report was collected online from October 30 through November 16, 2020 and represents the responses from 5,000 U.S. adults over the age of 18.
Learn More About This Report & Javelin
Related content
Ticketmaster Breach Inflates Complexity With Identity Fraud
At a time when account takeover and other identity fraud types are causing significant issues for consumers, the last thing consumers want to hear is that their information was sto...
CrowdStrike Failure Reveals Thin Line Between Cyberattack and ‘Incident’
Called the largest IT outage in history, the defective content update pushed out by cybersecurity firm CrowdStrike on July 19 affected 8.5 million Windows-based devices worldwide, ...
Cyber Lessons for Mobile Banking: Connecting with Consumers, Framing Cyber Awareness
Javelin Strategy & Research sees an increased opportunity for cybersecurity awareness and engagement with consumers within mobile banking, where push notifications and alerts are a...
Make informed decisions in a digital financial world