The pandemic has helped to fuel an increase in fraudulent activity, with more people engaging and transacting with organisations online. In the banking industry this has been borne out by figures from the Office for National Statistics (ONS) which has found a 68 per cent increase in remote banking fraud in 2020.
How Can Banks Solve the Challenge of Preventing Financial Crime and Yet Deliver A Seamless Customer Onboarding Experience?
The scourge of financial crime is increasing. It’s being driven by organised crime rings, fuelled with billions of compromised data records, who are systematically and methodically targeting financial services firms with sophisticated application fraud attacks that use stolen or falsified identities in an effort to obtain new accounts.