Dave Excell, Founder of Featurespace explains why scams are on the rise in the U.S. according to recent data from The State of Fraud and Financial Crime in the U.S., a Featurespace and PYMNTS collaborative report.
Traditional fraud typologies remain a massive challenge for U.S. financial institutions (FIs), but they are at risk of being caught on the back foot when it comes to authorized frauds and scams.
1. Why do you think authorized fraud, or scams, represent the same volume of attacks as traditional typologies?
2. Since scams are on the rise, what strategies need to be in place to prevent the fraud impacts?
3. What kinds of scams are on the rise in the U.S?
4. What can FIs do now to get ahead of the wave of scams sweeping the U.S.?
5. How should we expect fraud trends to evolve in the coming year?