Fraud has evolved from isolated schemes to industrialized, AI-driven attacks targeting commercial banking infrastructure. Today’s threat actors use generative AI, insider fraud, and real-time external threat tactics that outpace traditional defenses. As a result, the impact is:
- 79% of organizations faced payment fraud attempts in 2024*
- $12.5B in consumer fraud losses reported by the FTC in 2024
- AI-driven fraud losses projected to hit $40B annually by 2027**
The Threat Landscape
Financial and reputational risks are growing, driven by:
- Authorized Push Payment (APP) Fraud
- Business Email Compromise (BEC) via wire transfers
- Deepfake-Enabled Social Engineering
- Synthetic Identity Fraud – the fastest-growing financial crime in the U.S.
Building Resilience: AI-Powered Defense Strategies
Commercial banks must strengthen fraud response with advanced, AI-driven measures, including:
- Machine Learning for Real-Time Detection
- Behavioral Biometrics, including typing cadence, mouse dynamics, device orientation
- Dynamic User Profiling to flag anomalies post-login
- Centralized Fraud Governance for enterprise-wide risk alignment
*AFP Survey
**Deloitte
