The February 2025 report reveals that fraud in banking is rapidly evolving due to technology and increasingly sophisticated attackers. Card-not-present and first-party application fraud are the most common threats, while synthetic identity fraud and social engineering scams are sharply rising. Digital identity and authentication are top investment areas, with 99% of institutions focused on real-time payment fraud prevention. Generative AI is viewed as a major threat, and 92% of institutions report increased online fraud losses. Institutions are prioritizing customer experience alongside security and favor purpose-built solutions to respond faster to emerging fraud trends.

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