Financial crime technology provider Themis, and global leader in business payments, Bottomline, today published a research-based whitepaper detailing the most critical fraud risks facing commercial banks in 2025. Drawing on an industry-wide survey of commercial banking professionals across North America and the UK, the whitepaper identifies fraudsters’ evolving tactics and the vulnerabilities financial institutions must address to stay ahead.

Research results highlight the dynamic interplay between internal and external fraud risks, including how vulnerabilities within organisations often intersect with sophisticated external threats. The whitepaper examines the evolving tactics fraudsters use to exploit gaps across traditional payment methods, such as credit cards and checks, as well as emerging payment technologies and financial services, including open banking. By analysing these intersections, the research uncovers patterns and opportunities for enhancing fraud prevention strategies across both established and innovative financial ecosystems.

Key findings from the survey:  

• Generative AI Threats: Half of respondents (50%) identified AI-driven fraud as a top concern for 2025.
• Financial Service Trends: 62% of survey respondents highlighted online account opening and client onboarding as one of the top service trends with greatest potential to increase their bank’s fraud exposure followed by the rise of open banking at 59% and increased automation of services at 55%.
• Emerging Technologies Impact: Open banking (66%), biometric authentication (57%), and generative AI (48%) are seen as the most impactful technologies influencing fraud risk profiles.
• Insider Risks: Collusion between internal and external actors remains a growing concern, with 46% of respondents flagging it as a top threat.
• Preparation Gaps: Two-thirds (66%) of respondents feel their bank is only somewhat prepared to address emerging fraud risks.

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Fraud Trends for 2025
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The research underscores the growing sophistication of fraud tactics. Deepfakes, synthetic identities, and the rise of Fraud-as-a-Service (FaaS) are set to disrupt traditional fraud detection methods. Moreover, automation of banking services—cited by 55% of respondents as a major fraud driver—exacerbates exposure to risks like unauthorised transactions and privilege misuse.

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"Fraudsters are leveraging advanced technologies faster than ever, which means banks need to adapt rapidly to secure their systems and client trust," said Dickon Johnstone, CEO of Themis.

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Collaboration Continues to be Key

In light of the increasing overlap between insider and external fraud threats, the report advocates for more effective industry partnerships and advanced systems integration. “This whitepaper is an essential resource for banks navigating a rapidly evolving fraud landscape. By using the insights from this research, banks can confidently position themselves to tackle both emerging and traditional threats head-on,” added Dalit Amitai, Head of Product and Technology, CFRM, Bottomline.

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About The Research

Our research was driven by an industry-wide survey of banking professionals from across North America and the UK, in a range of target roles, including senior management, information security, fraud, and compliance. Of those surveyed, 70% worked at banks with operations in the US, 15% at banks with operations in the UK, and another 15% at banks with operations in both regions. In addition to commercial banking, other key services offered by surveyed banks included financial technology services, money transfers services, trade finance, and investment banking.

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