Fraudology Podcast with Karisse Hendrick cover image

Beyond Identity: The Multifaceted Nature of Application Fraud with Frank McKenna

Fraudology Podcast with Karisse Hendrick

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Escalating Application Fraud in Digital Banking

This chapter explores the growing threat of application fraud and identity theft in digital banking, informed by a Visa report revealing a 244% increase in digital lending fraud. It highlights the alarming rise of document forgeries and deep fakes, as well as the normalization of fraudulent behavior through social media influences. The discussion stresses the urgency for financial institutions to enhance their fraud detection technologies to mitigate the risks posed by evolving cybercriminal tactics.

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