The Role of Fraud in the Banking Industry
***
$
Fr a
ud
Fraud against bank deposit Accounts in U.S.
54%
37%
9%
Phishing Types of Phishing
Phishing Attacks by Country by volume UK 8% Canada 3% U.S. 58%
Germany 9% France 3%
Italy 3%
India 3% South Africa 3% 48 Other Countries 10%
Targeted U.S. Banks by Phishing
$
74%
$
15%
$
11%
Financial Institutions Perception on Fraud Experienced actual commercial account fraud losses in wire transfer or Automated Clearinghouse (ACH) (Nov 2012 -13) North America
Global
$
Yes
No
Uncertain
Financial Service Industry using fraud monitoring solutions to protect against online account takeover, ACH and wire fraud
Cross-channel fraud monitoring
Online session Payment system-specific Layered security anomaly detection transaction monitoring proceses/systems
Device protection
Factors important when considering a potential technology solution to mitigate online account takeover and ACH/wire fraud
Hosted/ Cloud-based service
On-premises server-based
Source: All data from secondary sources
Cost
In-house fraud knowledge/ skills
Ease of integration
Senior-level buy-in
Technology vendor credibility