Social engineering scams sweep through financial institutions

North American financial institutions fielded 10 times more reports of social engineering scams in 2024 than they did a year ago, according to BioCatch. The data shows scams now represent 23% of all digital banking fraud. Growing danger of deepfake and GenAI scams BioCatch published these findings in its 2024 Digital Banking Fraud Trends in North America report, which also details a 94% uptick in reported money mule (or money laundering) accounts. “Reports of North … appeared first on Help Net Security.