BioCatch Releases Comprehensive Analysis of Banking-Fraud and Financial-Crime Trends in Germany
BERLIN and NEW YORK, April 10, 2024 /PRNewswire/ -- In a report released today, BioCatch – the global leader in digital-fraud detection and financial-crime prevention powered by behavioral biometric intelligence – published findings showing Germany suffers less from the purchase scams tormenting the rest of the continent and more from typical impersonation and investment scams. Most often, these attacks come from native German-speakers residing in Eastern Europe, both making these scams appear more legitimate to German victims and contrasting with the English-speaking world, where most attacks originate in Asia. Fraud victims in Germany also received fewer refunds than those scammed elsewhere in Europe.
- Fraud victims in Germany also received fewer refunds than those scammed elsewhere in Europe.
- "If there's good news for German banking customers," BioCatch Director of Global Fraud Intelligence Tom Peacock said, "it's that Germany has some of the best financial regulation in the world.
- BioCatch also expects the rapid advancements in generative artificial intelligence (GenAI) to impact Germany just as it will the rest of the world.
- Click here to access BioCatch's full 2024 Digital Banking Fraud Trends in Germany report and learn how to safeguard your financial institution against an ever-expanding array of fraud threats.