As digital banking expands rapidly, especially in emerging markets, it faces not only the promise of growth but also a surge in fraud risks. Organized criminal groups, armed with advanced technologies, exploit vulnerabilities in new markets and innovative products, leaving financial institutions struggling to keep pace. With projected global fraud losses exceeding $485 billion in 2023, digital banks must rethink their strategies to protect themselves and their customers.
This guide explores actionable strategies for mitigating fraud risks, from understanding localized fraud dynamics to leveraging consortium-based collaboration and advanced technology. Learn how proactive risk assessment, tailored controls and collective intelligence can empower digital banks to secure growth while maintaining customer trust.
