Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. As potential liability shifts loom with possible implications for wire payments, financial institutions must consider how wire fraud trends are evolving in the industry, and why solutions leveraging consortium analytics are essential to prevent loss.
Analyzing our consortium data set in the Verafin Cloud, representing $4T in collective assets from 2200 financial institutions, this report describes attempted wire fraud trends and statistics observed from Q2 2020 to Q2 2022. Learn about more concerning trends affecting seniors and businesses, discover an insightful case study involving wire fraud against a title company, benchmark your institution against peers, and more.