Financial institutions (FIs) across EMEA are fighting a battle against resourceful fraudsters who are perfecting scams in their ideal economic environment. The annual inflation rate in many of these countries soared in 2022. The resulting economic headwinds, combined with the rapid shift to digital real-time payment rails following the COVID pandemic, leaves citizens more susceptible to a fraudster’s false promises. They fall prey to scams that offer fast financial rewards and, once defrauded, there is no guarantee of reimbursement by their bank.

FIs must arm themselves with modern technology to defend against this growing threat. With an ever-widening spectrum of scams, it’s critical for companies to stay ahead of the curve and safeguard their customers.

To better understand the challenges and priorities facing FIs in their efforts to prevent fraud, FStech and NICE Actimize surveyed 100 practitioners working in the financial services industry across the EMEA region. The following results provide a snapshot of the key trends, drivers, and challenges that can help you build and implement your anti-fraud strategies.