2022 saw a number of scams hit the top of Finextra’s headlines. Research found that
8% of consumers were ignoring confirmation of payee warnings and celebrities like
Joe Lycett even waded in on the issues,.
As the cost-of-living crisis continues to make people feel more financially vulnerable, the importance of education around scams and fraud is increasingly essential.
While we are likely to see some of the leading scams from 2022 continue into 2023, technology developments and other macro-factors may result in further developments on the same activities. We asked a number of experts to share their predictions around scams
and fraud throughout 2023.
Same old scams: What can we learn from financial crime in 2022?
2022 was the year of social engineering scams, and this shows no sign of slowing down. Research from ACI Worldwide anticipates Authorised Push Payment (APP) scams to continue to grow, doubling
by 2026. UK finance
reported in their 2022 Half Year Fraud Update that romance scams increased by 31% in the first half of 2022.
APP remains a serious area of concern to many. Sandy Lavorel, team leader and practice lead business analyst at NetGuardians confirms that APP “skyrocketed in 2022, and we expect them to proliferate further in 2023.”
He continues that NetGuradians “foresee that investment scams, romance scams, tech support scams and delivery scams will remain in the top five. The trend will persist as criminals stick with…
