Register for our upcoming webinar with BioCatch, to join us on Tuesday 27 July 2021 at 15:00 BST as our panel of industry experts discuss how banks can better educate and inform their customers about the risks they face online.
Social engineering scams are becoming more sophisticated and increasing in frequency across the globe. Having evolved from traditional forms of account takeover fraud into much more elaborate and convincing operations, identifying and preventing these new digital threats through consumer education is becoming more essential than ever for financial institutions.
UK Finance recently found that over two thirds of all authorised push payment (APP) scams start online and announced a change to reimbursing rules which would extend banks the autonomy to individually pay back fraud cases to their customers. This progress reflects the wider industry momentum toward boosting consumer protection, in addition to understanding that strengthened security acts as an effective business differentiator to attract new customers.
While it is in the interest of financial institutions to raise awareness with customers on the impacts of cybercrime, they also appreciate that preventing social engineering scams also requires technology. Innovative solutions, such as behavioural biometrics, are being used by financial institutions today to tackle these threats and improve overall customer experience.
Sign up for this Finextra webinar, hosted in association with BioCatch, to join our panel of industry experts as they discuss the following topics:
- How has fraudulent behaviour evolved over the past 24 months? What are the pressures that are exacerbating this threat?
- How can banks better educate and inform their customers about the risks they face when carrying out their financial activity online? Are banks doing enough to support their customer base?
- In what ways can investment in cyber security and fraud prevention solutions help banks to improve customer experience?
- Is it more effective for banks to design their own technology solutions to tackle fraud or partner with external providers?
- Why is behavioural biometrics technology so effective in tackling and preventing social engineering scams? How is it different from controls banks already have in place?
- Gary Wright - Head of Research, Finextra [Moderator]
- Uri Rivner - Chief Cyber Officer, BioCatch