A report by Mobey Forum’s Fraud Expert Group
‘Rethinking Fraud in a Connected World’ examines how fraud is evolving as digital ecosystems become increasingly interconnected and why traditional approaches to prevention are no longer sufficient.
Developed by Mobey Forum’s Fraud Expert Group, the report draws on expert discussions and a survey of fraud professionals from banks operating across multiple geographic regions, particularly in Europe. It explores how fraudsters are increasingly exploiting human behavior rather than technical vulnerabilities, often targeting customers through social media, messaging platforms, telecom networks, and other digital channels before a payment ever reaches a bank.
The report highlights the growing need for cooperation across industries, recognizing that effective fraud prevention depends not only on banks and payment providers, but also on technology companies, telecom operators, marketplaces, and public authorities. It also examines the role of information sharing, regulatory developments, a common taxonomy, and emerging technologies in strengthening resilience against increasingly sophisticated fraud threats.
Survey findings show that banks and payment service providers continue to invest in customer education, technical controls, and collaborative initiatives to strengthen fraud detection and response. At the same time, advances in artificial intelligence are enabling more sophisticated scams, including deepfakes and automated fraud attacks, increasing pressure on existing controls.
The report concludes that maintaining trust in digital financial services will require stronger partnerships, better information sharing, and collective action across the wider digital ecosystem.
Mobey Forum’s Fraud Expert Group Co-Chairs:
John Erik Setsaas, Identity and Fraud Expert
Xavier Serra Guasch, CaixaBank
Mario Maawad Marcos, CaixaBank
