Banks are under mounting pressure to navigate rapidly evolving fraud trends amid an increasingly complex threat landscape. Balancing internal and external risks while addressing changing customer needs, market dynamics, and regulatory demands has become critical. To explore these challenges, Bottomline and Themis conducted research focusing on the dual role of technology in driving and detecting fraud, the connection between insider and external threats, and the risks associated with traditional and emerging payment types.
The research incorporated insights from over 90 banking professionals across North America and the UK, including senior management, information security, fraud, and compliance specialists. The findings highlight the most pressing fraud risks anticipated for 2025, shedding light on tactics, vulnerabilities, and strategic priorities that will shape the banking industry's response to fraud in the coming year.
Despite the growing threats, there is optimism as the commercial banking sector remains highly proactive in identifying and addressing fraud. Advanced technologies are now essential for combating fraud, enabling tailored, proactive, and reactive detection and mitigation strategies. Tools that support real-time detection and investigation empower banks to manage both internal and external fraud threats effectively.
To stay ahead of emerging threats, banks must adopt a multipronged approach to fraud prevention. This includes leveraging innovative technologies, fostering industry collaboration, and building awareness. Insights from the white paper underscore the importance of such strategies as foundational steps in navigating the shifting fraud landscape.
The findings serve as a guide for banks seeking to understand and address evolving fraud dynamics, offering practical recommendations based on peer feedback and industry trends. With a focus on collaboration and tailored technological solutions, the banking sector can enhance its resilience against escalating fraud threats in 2025 and beyond.
