As technology and payment methods evolve, fraudsters keep adapting. Check fraud, card scams, identity theft, push-payment fraud, and AI-driven social engineering all pose growing threats to balance sheets, customer trust, and compliance. With more than a million SARs filed this year and incidents rising across product lines, banks need a holistic, proactive approach to detection and response.
A new Bank Director report outlines emerging schemes and practical steps to strengthen defenses. The OCC’s fraud-risk principles and the FDIC’s cybersecurity framework also offer useful guidance for integrating fraud controls into everyday risk management.
What types of fraud have risen recently at your institution? Are your tools and processes keeping pace with emerging threats? How effectively have you trained staff—and customers—to spot red flags before incidents arise?