Fraud Losses From Impersonator Scam Double For Largest US Banks
For U.S. banks with at least $5B in assets, total losses due to fraudulent transactions added up to more than $1.3 billion in 2023, nearly doubling the $767 million lost in 2022. Fraud’s rising star? PYMNTS Intelligence’s latest study of 200 executives at the largest banks in the country finds that losses from impersonator scams — think fraudsters posing as bank technicians or the IRS — have also doubled.
Read more in “The State of Fraud and Financial Crime in the U.S.,” a collaboration with Hawk AI.