Our Scans · (FS.7.01) Fraud · Weekly Summary

• [New] Card-not-present fraud remains seven times higher than in-store transactions, with global losses forecast to surpass $100 billion by 2029. philstar.com
• [New] By 2025, AI systems will be so sophisticated that they not only spot fraud but also predict vulnerabilities which prior are even targeted by criminals. Elite Solution USA
• [New] Italian bank Intesa Sanpaolo's quantum machine learning surpassed traditional fraud detection methods and achieved better accuracy with fewer data features, demonstrating the potential of quantum security in finance. TECH TICH | Technology Blogs, News & Product Reviews
• [New] The 2025 holiday period will challenge existing fraud prevention and bot management programs across every layer of the eCommerce ecosystem. Security Boulevard
• [New] The largest and most diverse source of fraud-risk data in the UK that enables organizations to share and access real-time data, identity fraud is the most frequently reported fraud type and is a persistent threat to UK consumers. FinExtra
• [New] Coinflow is redefining the payments category by delivering something no other provider can: instant global payments and payouts without the fear of fraud or chargebacks. FinExtra
• [New] Mastercard Threat Intelligence bridges communication gaps, enabling fraud and security teams to work together seamlessly to stop fraud before it happens. FinExtra
• [New] In the coming years, AI-driven cyber-attacks, including hyper-personalised spear phishing, deepfake-enabled fraud, and automated social engineering, are expected to witness a significant uptick. ET Edge Insights
• [New] With fraud and reputational risk rising sharply, banks and credit unions must act now to align with recognized Canadian digital trust standards or risk falling behind global and domestic expectations. BiometricUpdate.com
• [New] Canada's financial services landscape is under growing pressure to change how it approaches digital identity - not because it already has, but because escalating fraud risks and heightened customer expectations now demand it. BiometricUpdate.com
• [New] BFSI (Banking, Financial Services, and Insurance) accounts for 15% (USD 2.5 billion), leveraging edge AI for fraud detection and real-time risk analytics. Cision PR Newswire
• [New] Hybrid quantum-classical computing platforms are now used for risk modeling, portfolio optimization, and fraud detection at major institutions like JPMorgan and Deutsche Bank. TrendVeritas
• [New] With so much money at stake, and with promises to achieve domain dominance in the next two years, the potential for fraud, waste, and abuse is real. Irregular Warfare Initiative
• [New] The IRS is now developing a new modernization framework due by early 2026 that focuses on unifying fragmented data systems, leveraging tech for taxpayer service and fraud detection, and reducing tech contractors. Rand Corporation
• [New] Privacy leakage, discrimination, false or misleading information, malicious use in scams and fraud, loss of human agency, lack of transparency and more are just some of the 1,600 risks in the Massachusetts Institute of Technology's AI Risk Database. The Guardian
• [New] Globally, generative AI-enabled financial fraud, including deepfake impersonations and synthetic identity fraud, is projected to exceed US $ 40 billion by 2027. Curia Regis
• [New] Feedzai's AI-powered end-to-end financial crime prevention platform for fraud, risk, and anti-money laundering teams protects more than 70 billion in annualised payment volume across card transactions and bill payments. FinExtra
• Europe's new fraud-prevention rules for online shopping will re-write the playbook on e-commerce security. Morgan Stanley Australia
• In 2025, fraud schemes have become more sophisticated-leveraging new technologies and exploiting emerging vulnerabilities-making prevention more critical than ever. Brady Martz & Associates
• Fraud prevention remains a critical priority for businesses of all sizes in 2025, as cybercriminals continue to evolve their tactics and exploit new vulnerabilities. Cyber Security News
• Expanding biometric use will help combat trafficking, verify criminal history, deter fraud, and enhance identity management throughout the immigration lifecycle. Erickson Immigration Group
• The best approach to address the vulnerabilities in the immigration process, preclude imposters, and deter fraud would be to rely more on biometrics for identity management in the immigration lifecycle. Federal Register

Last updated: 18 November 2025