Intelligence Report | November 2026 - Flipbook - Page 18
CONCLUSION
THE FRAUD
MENACE
PROTECTING YOUR BANK
The threat of fraud likely won’t lessen any time soon —
losses experienced by consumers surged by roughly 25% from
2023 to 2024. That means banks must remain vigilant about the
issue and continue to be proactive. Leaders need to understand
the types of fraud their bank is being hit with the most and the
losses they are experiencing. They can then fight back. This can
be through implementing new technology, such as solutions that
catch fraud in real time or that utilize artificial intelligence.
Management teams could also join groups or consortiums where
institutions share data to spot trends and identify potentially
suspicious customers. Banks must take these steps and be
innovative in the fight against fraud — the criminals are certainly
working hard to find new ways to rip off unsuspecting victims.
16 | BANK DIRECTOR INTELLIGENCE REPORT
