Banks Stop $22.3 Billion in Fraud Attempts in 2018

According to the American Bankers Association’s 2019 Deposit Account Fraud Survey, banks stopped $22.3 billion in attempted fraudulent transactions in 2018- that’s $9 out of every $10 of attempted fraud. Although total attempted check fraud increased to $15.1 billion, banks’ prevention measures stopped $13.8 billion—or 91%—of attempted check fraud. The survey demonstrates that banks are investing in sophisticated fraud prevention systems and continue to take extraordinary efforts to protect and safeguard customer accounts. Looking ahead, survey respondents flagged debit card, online banking, wire originations, check deposits and P2P transactions as the top five fraud threats on the horizon.