Fraudsters today have evolved beyond isolated schemes; they have mastered collaboration, leveraging cyber tools and sophisticated tactics to launch large-scale, coordinated attacks. Financial institutions, despite making significant investments in security infrastructure, remain vulnerable when they operate in silos.
Financial crime is reaching unprecedented levels. In the past year alone, global financial crime losses have exceeded $2 trillion. Cyber-enabled fraud is growing in complexity, with fraudsters exploiting gaps between financial institutions, payment networks, and emerging fintech platforms. The challenge is no longer about stopping a single attack—it’s about preventing widespread, systemic threats that target the industry as a whole.
No organisation can tackle this evolving threat alone. Fraudsters share tactics, tools, and intelligence in underground networks, allowing them to stay ahead of traditional security measures. To effectively combat this, banks, fintech companies, and financial institutions must embrace a similar approach—one built on collaboration and intelligence sharing.
Cyber-enabled fraud is not just a technological problem—it is a strategic risk that requires a coordinated response. Financial institutions must move beyond reactive security measures and adopt proactive strategies that prioritise intelligence sharing, cross-sector collaboration, and real-time fraud prevention.
Download this white paper to explore how financial institutions can build a collaborative defense against fraud, leverage cutting-edge intelligence-sharing frameworks, and implement best practices for stronger, more resilient fraud protection.
