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07/10/2022
PYMNTS Intelligence: Fighting Fraud While Ensuring Money Mobility
PYMNTS.com
Maximizing money mobility is the goal in today’s digital-first economy, but digital banking’s vulnerability to bad actors has made fraud a pervasive threat to this ideal. A 2021 FICO survey of 1,000 United States-based consumers revealed that 46% have fallen prey to fraud and nearly 19% have experienced an account takeover. A 2022 report further showed a 41% increase in attempted fraud year over year across the board, with the highest increase occurring in mobile channels at 61%.
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