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Global Fraud Detection & Prevention in Banking Market 2024-2029: Market Trends & Strategies

Publisher Juniper Research
Published Jun 17, 2024
Length 45 Pages
SKU # JNRH19878220

Description

Juniper Research’s new report examines the Fraud Detection and Prevention in Banking market landscape in detail; assessing current fraud trends and factors shaping the market, such as the growing use and anticipation surrounding different technologies such as AI and ML (Machine Learning), and the existing and impending regulations in the space. The report delivers comprehensive analysis of the strategic opportunities for fraud detection and prevention providers within banking; addressing key verticals, developing challenges, and how stakeholders should navigate these.

Please note: the online download version of this report is for a global site license.

Table of Contents

45 Pages
1. Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.2 Strategic Recommendations
2. Market Landscape
2.1 Introduction
2.2 Definitions and Scope
Figure 2.1: Visualisation of Fraud
2.3 Types of Fraud
2.3.1 First-party Fraud
i. Application Fraud and Fake Accounts
ii. Money Mules
iii. Fronting
iv. Sleeper Fraud
v. APP Fraud
vi. Social Engineering
2.3.2 Money Laundering
Figure 2.2: Visualisation of Money Laundering
2.3.3 Chargeback Fraud
Figure 2.3: Visualisation of Chargeback Fraud
2.3.4 ATO
Figure 2.4: Visualisation of Account Takeover
2.3.5 Synthetic Identity
Figure 2.5: Visualisation of Synthetic Identity Fraud
i. Detection of Synthetic Identity Fraud
2.4 Solutions Utilised in Issuer Fraud Detection & Prevention
2.4.1 Fraud Detection and Prevention Systems
Figure 2.6: Types of Fraud Detection and Techniques
i. Biometrics
ii. Tokenisation
iii. Behavioural Analytics
iv. AML Software
3. Emerging Fraud Market
3.1 Key Themes and Areas Involved
3.2 Key Trends & Current Market Drivers
3.3 Payment Types
3.3.1 Open Banking
i. Increase in Fraud Through Open Banking
Figure 3.1: Visualisation of Open Banking
ii. Decrease in Fraud Through Open Banking
Figure 3.2: Visualisation of Open Banking
3.3.2 BNPL
i. Increase in Fraud Through BNPL
Figure 3.3: Buy Now Pay Later Flow
ii. Decrease in Fraud Through BNPL
3.3.3 CBDCs
Figure 3.4: Visualisation of CBDC
i. Increase in Fraud Through CBDCs
ii. Decrease in Fraud Through CBDCs
iii. Mitigating CBDC Fraud
3.3.4 Cryptocurrency
i. Increase in Fraud Through Cryptocurrency
ii. Mitigating Cryptocurrency Fraud
3.3.5 Real-time Payments
Figure 3.5: Visualisation of Instant Payments
i. Increase in Fraud Through Real-time Payments
ii. Decrease in Fraud Through Real-time Payments
3.3.6 Money Transfer
i. Increase in Fraud Through Money Transfer
Figure 3.6: Total Number of Fraudulent Money Transfer Transactions (m), Split by 8 Key Regions, 2024-
ii. Decrease in Fraud Through Money Transfer
3.4 Technologies
3.4.1 AI
i. Benefits of AI in Fraud Detection
Figure 3.7: Benefits of AI in Fraud Detection
ii. How AI Is Being Utilised by Fraudsters
3.4.2 ML
i. Benefits of ML in Fraud Detection
ii. How ML Is Being Utilised by Fraudsters
3.4.3 APIs
i. Benefits of APIs in Fraud Detection
ii. How APIs Are Being Utilised by Fraudsters
iii. Open Banking APIs
iv. FAPI (Financial-grade API)
3.5 Regulations
3.5.1 UK Faster Payments Regulation
3.5.2 PSD
3.5.3 RTS (Regulatory Technical Standards) Implications for Payment Service Providers
i. Fraud Detection
ii. Merger of Home Working, Personal Devices and Corporate Access
iii. Exemptions from SCA
iv. Implications
v. Network Tokenisation in India
vi. Regulation Differences
4. Segment Analysis
4.1 Introduction
4.1.1 Banks and Credit Unions
Figure 4.1: Total Spend on Fraud Detection and Prevention by Banks and Credit Unions ($m), Globally, Split by 8 Key Regions, 2024-
4.1.2 Fintechs
Figure 4.2: Total Number of Fintechs Using Fraud Detection and Prevention Solutions, 2024-
4.1.3 Lenders
i. Reducing Exposure to Fraud
ii. Enhance Risk Management
iii. Improved Quality of Loan Portfolio
iv. Protect Trust and Reputation
Figure 4.3: Total Spend on Fraud Detection and Prevention by Lenders Globally ($m), Split by 8 Key Regions, 2024-
4.1.4 Investment Companies
Figure 4.4: Total Spend on Fraud Detection and Prevention from Investment Companies ($m), Split by 8 Key Regions, 2024-
4.2 Key Challenges

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