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11/15/2024
North America sees social engineering scams multiply by a factor of 10
CNHI News
Money laundering accounts increase 94%; GenAI tools and deepfake threats growing
NEW YORK, Nov. 13, 2024 /PRNewswire/ -- New research released today shows North American financial institutions fielded 10 times more reports of social engineering scams in 2024 than they did a year ago. The data shows scams now represent 23% of all digital banking fraud. BioCatch – the global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence – published these findings in its 2024 Digital Banking Fraud Trends in North America report, which also details a staggering 94% uptick in reported money mule (or money laundering) accounts.
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