Mobile payment fraud increased in 2023
Image via Unsplash
According to a recent report from BioCatch, mobile banking rates increased to 73% in 2023. This rise has also led to a surge in fraud executed from mobile devices, rising from 47% in 2022 to 61% in 2023.
The report found that raud in deposit accounts is the #1 fraud type across North America (including fraudulent account openings and account takeovers), with one million cases seen across its customers in H1 2023. Fraudulent transfers using Zelle increased by 4% in 2023, with over 30,000 cases seen in H1.
The report found that in the U.S., criminals favored bot attacks at account opening, check and deposit fraud, digital transfers and mule accounts. Data from Canada shows a preference for voice scams impersonating government bodies, targeting mobile devices, investment and romance scams, phishing attacks and mule accounts.
Read the full report here.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
