Consumer-engaged fraud is now the leading type of fraud globally, representing more than a third (36%) of all reported incidents in 2024, up 15% over the prior year. It’s a costly and time-consuming challenge for financial institutions, exacerbated by the need to balance fraud prevention with customer experience. In the contact center, we distinguish consumer-engaged from other types of fraud; when the consumer is involved, it takes a different set of tactics to detect and mitigate these attempts. We further break down consumer-engaged fraud into two categories: “persuaded,” when a consumer...