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Complimentary copy: Forrester Opportunity Snapshot – online scams

Research & Insights Fraud & Scams

How sophisticated scams affect your customers and business

Understand the impact scams is having on organizations like yours, including:

  • the monetary losses from scams
  • the business areas organizations are investing in to tackle this issue
  • the advantages they are looking for when procuring scams solutions
  • the solutions they are investing in over the next 12 months
  • the role that regulation and legislation are playing in selecting solutions

Click here to download this Forrester Opportunity Snapshot

Fraudsters are deploying diverse tactics ranging from social engineering to phishing, authorized push payments and Remote Access Trojans (RAT), to manipulate and coerce consumers into making payments and unknowingly authorizing account takeovers.

Collectively, these scams cost financial organizations large amounts of money and erode customer confidence, impacting the organization's ability to attract and retain their customers.

Furthermore, these scams are often not reported or in the case of attacks such as Remote Access Trojans, may escape detection by traditional fraud management systems, meaning we may not truly understand the scale and scope of the current online scam challenge.

To better understand this challenge, Callsign commissioned Forrester Consulting to conduct a survey of senior decision-makers from financial organizations across the globe. This report outlines the types of scams taking place globally and the solutions organizations are using to tackle them. We believe this shared understanding will help banks find the right solutions, and enable them to build more trusted relationships with their customers.

Download your complimentary copy

Key highlights include:

62%
of respondents lost 1% to 6% of revenue due to consumer-based scams
75%
say scams affect the organization's ability to attract new customers
47%
of organizations say detecting scams is a challenge for their business