In his recent U.S. News article, Greg Garrison unpacks the growing threat of increasingly sophisticated bank scams—and the urgent need for better defenses.
Uri Rivner, CEO of Refine Intelligence, points out a critical shift: scammers are no longer just stealing credentials or hacking systems, they’re persuading consumers to move the money themselves. By impersonating bank representatives and using tactics like spoofed phone numbers and convincing stories, fraudsters manipulate victims into authorizing transfers directly to the criminals.
Uri emphasizes that because these scams involve seemingly legitimate customer actions, traditional fraud systems often miss them. To keep up, banks must invest in tools that detect manipulation in real time and protect customers from becoming unwitting accomplices in their own victimization.
Read the full article: Bank Scams Are Getting Way More Sophisticated
