Today in Data: Battling Bank Fraud

Today in data, while banking fraud is on the rise, security professionals worry fraudsters have better tech than they do.

Data

$5.8B: Amount lost to fraud in 2021, a 70% increase from the year before

65%: Share of security professionals who say the tech to which fraudsters have access surpasses the tools banks use to stop them

41%: Increase in banking fraud incidents between 2021 and 2022

3 in 10: Number of consumers who say they’d switch banks if fraud incidents were handled poorly