BY Fraser Tennant
Commercial banks are struggling to keep pace with the threat posed by fraudsters, with two-thirds unprepared for emerging fraud risks, according to a new research-based whitepaper by Themis and Bottomline.
Drawing on an industry-wide survey of commercial banking professionals across North America and the UK, the whitepaper details the most critical fraud risks they face in 2025 – identifying fraudsters’ evolving tactics and the vulnerabilities banks must address to stay ahead.
The white paper research also highlights the dynamic interplay between internal and external fraud risks, including how vulnerabilities within banks often intersect with sophisticated external threats.
The white paper examines the evolving tactics fraudsters use to exploit gaps across traditional payment methods, such as credit cards and cheques, 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.
“Banks are navigating a rapidly evolving fraud landscape,” said added Dalit Amitai, head of product and technology at Bottomline.” By using the insights from this research, banks can confidently position themselves to tackle both emerging and traditional threats head-on.”
Additional findings from the survey include: (i) half of respondents identified artificial intelligence (AI)-driven fraud as a top concern for 2025; (ii) 62 percent highlighted online account opening and client onboarding as one of the top service trends with greatest potential to increase their bank’s fraud exposure; (iii) open banking (66 percent), biometric authentication (57 percent) and generative AI (48 percent) are seen as the most impactful technologies influencing fraud risk profiles.
The research also underscores the growing sophistication of fraud tactics, with deepfakes, synthetic identities and the rise of fraud as a service set to disrupt traditional fraud detection methods. Moreover, notes the white paper, automation of banking services – cited by 55 percent of respondents as a major fraud driver – exacerbates exposure to risks like unauthorised transactions and privilege misuse.
In light of the increasing overlap between insider and external fraud threats, the white paper recommends more effective industry partnerships and advanced systems integration.
Dickon Johnstone, chief executive of Themis, concluded: “Fraudsters are leveraging advanced technologies faster than ever, which means banks need to adapt rapidly to secure their systems and client trust.”
Report: White Paper: 2025 Fraud Trends