Global losses from fraud, including bank fraud, reached a staggering $485 billion, according to Morningstar. Alarmingly, 62% of organisations reported an increase in fraud attempts, with many noting a worsening impact.
As governments and regulators adopt more proactive measures, the stakes have never been higher. Compliance is no longer enough—accountability is now the demand. Those failing to prevent financial crime will face significant penalties.
Fraud-related activities have also escalated sharply. Reuters reports that the U.S. Department of Justice's Fraud Section had an exceptionally active 2024, with increases in cases resolved, individuals convicted, and financial penalties imposed. Notably, the average fraud amount per individual charged jumped by 25%, rising from $28 million in 2023 to $35 million in 2024.
In 2024, a surge in sophisticated attack methods, including AI-powered threats, deepfakes, and business email compromise (BEC) scams. Here’s what we can expect in 2025:
Regulatory Measures and Collaboration: Governments and regulatory bodies worldwide are taking steps to combat financial crime. In 2025, we can expect stricter regulations and increased collaboration between the public and private sectors. Sharing threat intelligence and best practices will be crucial in staying ahead of cybercriminals.
Ransomware: A Continuing Threat: Ransomware remains a significant threat, with cybercriminals constantly refining their tactics. In 2025, we anticipate more sophisticated ransomware attacks, targeting larger organisations and critical infrastructure. The integration of AI and machine learning will enable these attacks to be more targeted and efficient, increasing their impact.
The AI Dilemma: Friend or Foe? 2025 is the year we put our knowledge of AI into practice. While AI can create deepfakes and synthetic identities, it can also be a powerful ally in fraud detection. AI helps investigators identify patterns, spot anomalies, and speed up responses. This year, financial institutions will move from AI trials to full-scale implementation, using advanced AI to optimise operations, strengthen security, and tackle fraud with greater agility. 2025 promises a transformative leap toward a smarter, more proactive fraud prevention approach.
Stay ahead of financial crime trends with QUBE Events' global series in 2025. Join industry leaders and experts to exchange insights, build connections, and drive the future of financial innovation.
Be part of the journey—join us for our upcoming events:
Malta NextGen Payments & RegTech Forum: 20 February | Hilton Hotel, St. Julian's, Malta
20th NextGen Payments & RegTech Forum: 6 March | Marriott Hotel, Zurich, Switzerland
Vision Forex Forum: 3 April | Four Seasons Hotel, Limassol, Cyprus
NextGen Payments & RegTech Forum: 7 May | W Hotel, Barcelona, Spain
4th ICPAC Mediterranean Finance Summit: 22-23 May | Four Seasons, Limassol, Cyprus
NextGen Payments & RegTech Forum: 19 June | Conrad Hotel, Dublin, Ireland
Africa Payments & RegTech Forum: 4 September | Hilton Hotel in Sandton, Johannesburg, South Africa
The 4th Financial Innovation Forum- Payments & RegTech: 18 September | Sheraton Grand Park Lane, London, UK
21st NextGen Payments & RegTech Forum: 9-10 October | Marriott Hotel, Athens, Greece
22nd NextGen Payments & RegTech Forum: 6 November | Four Seasons Hotel, Limassol, Cyprus
23rd NextGen Payments & RegTech Forum: 12-13 November | Hyatt Regency, Austin, TX, USA
The Global Trade Finance Expo: 19-20 November |JW Marriott, Dubai, UAE
The Private Wealth & Funds Forum: 10 December | Marriott Hotel Downtown, Abu Dhabi, UAE
To stay updated on our upcoming forums, visit: https://bit.ly/3Hijw6B
For Sponsorship opportunities with QUBE's upcoming events please contact us at info@qubevents.com
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