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Mobile payment fraud increased in 2023

Security Magazine

According to a recent report from BioCatch, mobile banking rates increased to 73% in 2023. This rise has also led to a surge in fraud executed from mobile devices, rising from 47% in 2022 to 61% in 2023.

The report found that fraud in deposit accounts is the #1 fraud type across North America (including fraudulent account openings and account takeovers), with one million cases seen across its customers in H1 2023. Fraudulent transfers using Zelle increased by 4% in 2023, with over 30,000 cases seen in H1.


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