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:
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.
"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.
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.
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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