Fraud threats continued to escalate in 2024, with first-party and check fraud leading loss growth among North American financial institutions. Fraudsters increasingly use AI, prompting a surge in investment in authentication (52%) and application fraud controls (31%). The authorized payment fraud crisis, responsible for over $1 trillion in global losses, shows early signs of improvement in markets like the U.K. and Australia but remains volatile in the U.S. as reimbursement policies evolve. While consumer sentiment is improving, fraud sophistication continues to rise, demanding faster innovation and stronger inter-industry responses.

Join for free to read