Boston, November 2, 2021 – Although social engineering, scams, and credential stuffing have been around for many years, fraudsters are applying new twists to them. The large-scale disruption of the COVID-19 pandemic elevated financial crime risks due to the introduction of millions of new individual users of online and mobile banking who are often more susceptible to social engineering and scams. For financial crime practitioners, legacy rules-based systems and existing control mechanisms are quickly becoming less effective at keeping pace with, and adapting to, the escalating threat landscape.

This Impact Report explores the key themes that emerged from Aite-Novarica Group’s fourth annual Financial Crime Forum, including opportunities, lessons learned, and insights shared by the panelists. Over the two-day period, the virtual forum included close to 700 registered attendees, and 43 fraud and anti-money laundering executives from financial institutions, fintech lenders, and e-commerce merchants spoke on the various panels.

This 44-page Impact Report contains one table. Clients of Aite-Novarica Group’s Fraud & AML service can download this report.

This report mentions Acuant, Arkose Labs, BioCatch, Bottomline Technologies, Callsign, CSI, EY, Experian, Featurespace, Feedzai, FICO, Fiserv, IDology (a GBG company), INETCO, NICE Actimize, Nuance Communications Inc., Outseer (an RSA company), Pindrop, PwC, SAS, Socure, and Symphony AyasdiAI.