Technologies are expected to defend against most fraud scenarios, but banking customers must also take a proactive approach to risk management to stay ahead of evolving threats. Richard Bromley, who will be speaking at Identity Week Europe 2026, explains why customers can still be caught out by impersonation and investment scams, and says he does not expect all customers to be fraud experts, in this short extract from our interview.
Technology fed into a machine learning model can stand up effectively to patterns of fraudulent behaviour to break down the chain sequence that allows fraudsters to succeed. Monzo in particular takes a total cost of fraud model, keeping customers at the centre. Around 66% of authorised risk payments originate online, as fraudsters misuse social media and internet platforms flooding customers under their “spell” with communications to make fraudulent transactions.
