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Fraud to Cost Banks Over $1 Trillion: NetGuardians Unveils 2025 Report Exposing Global Rising Threats
February 2025 by NetGuardians
NetGuardians has released a comprehensive report titled "The Top Banking Fraud Types to Watch in 2025" highlighting the alarming rise in global fraud and the sophisticated methods employed by cybercriminals. The findings from this report unveil the most dangerous threats looming over banks, businesses and consumers in 2025.
Key Findings:
Fraud losses are skyrocketing - Global financial crime cost banks and customers over $1 trillion in 2024, with the trend only increasing.
Scammers are relentless – Nearly 50% of the world’s population receives scam attempts weekly.
Fraud risks for older adults - Individuals aged 60 and older are particularly susceptible, with losses estimated at $61.5 billion in 2023, often due to fraudulent investment schemes and fake support offers.
The true scale of fraud is hidden - Despite the significant financial and emotional toll, only 28% of scam attempts are reported to authorities, and a mere 4% of victims recover their lost funds.
The report emphasises the fundamental need for financial institutions to adopt advanced fraud prevention measures, including artificial intelligence (AI) and machine learning (ML), helping to detect and prevent fraudulent activities in real-time. Traditional fraud detection methods are no longer enough. Cybercriminals are using automation, deep fakes and social engineering to outsmart outdated security measures and AI-driven prevention is the only way for banks to stay ahead.
Joël Winteregg, Co-Founder and CEO of NetGuardians, commented on the findings, "Fraud is no longer just about stolen money, it’s about trust. Every fraudulent transaction is a potential customer lost. The sophistication and scale of modern fraud schemes demand a proactive and secure AI-driven approach. At NetGuardians, we are committed to equipping financial institutions with the technology they need to protect their clients and maintain trust in the financial system. The data doesn’t lie, fraud is growing, and institutions that fail to act risk becoming the next headline."
NetGuardians’ innovative solutions have already been adopted by over 100 banks and wealth managers across more than 30 countries, including 60% of Swiss state-owned commercial banks and several top private banks globally. By leveraging data-driven AI, these institutions have achieved an 85% reduction in customer friction and a more than 75% decrease in operational costs related to fraud detection.
As fraudsters continue to evolve their tactics, NetGuardians remains at the forefront of developing modern technologies to safeguard the financial industry.
