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Social engineering scams: Like the worst blind date

Sep 19, 2022 / Fraud Prevention

John Paul Blaho, Senior Director of Product Marketing at BioCatch, walks through an intricate and sophisticated scam process and shares insights on how genuine user behaviors change in scenarios where trust is built. He also shows where behavioral biometrics can help protect financial institutions and their customers from these types of scams, even when genuine users are participating in the fraud transaction.

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Digital and data transformation has accelerated adoption of mobile technology to perform work and conduct business. In just the last few years, users have become very comfortable conducting business with minimal human interaction. With comfort often comes complacency, and scammers take advantage of this comfort to gain trust from consumers. Like blind dates, scammers take advantage of the human desire to be connected and build relationships and gain trust. The big difference is that this relationship is one-sided.

Don’t miss the other thought leadership, white papers and Tech Talks from the BAI Deep Dive: Financial Fraud Prevention.