Financial scams have never been more prevalent, but quality data on the number of victims and scale of their losses remains limited. For consumer-facing financial institutions (FIs), understanding the true scale of these scams is critical to protecting their customers. PYMNTS Intelligence’s research finds that...
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions...
Financial scams perpetrated against U.K. households and companies increased 16 percent in 2018, according to new data. The Financial Times, citing the trade body UK Finance, reported bad guys were able to steal £1.2bn last year, up from £967m in 2017. The uptick in fraud...
The Consumer Financial Protection Bureau released its monthly complaint report Wednesday (May 31) that showed older consumers frequently report servicing problems with reverse mortgages, difficulties recovering money after financial scams, confusion around deferred interest credit cards and frustration when experiencing charges for unauthorized add-on products. In...
August 22, 2023
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions to take urgent action to protect consumers, Bloomberg reported Tuesday (Aug. […]
March 21, 2019
Financial scams perpetrated against U.K. households and companies increased 16 percent in 2018, according to new data. The Financial Times, citing the trade body UK Finance, reported bad guys were...
June 01, 2017
The Consumer Financial Protection Bureau released its monthly complaint report Wednesday (May 31) that showed older consumers frequently report servicing problems with reverse mortgages, difficulties recovering money after financial scams,...
