Discover Undetected and Complex Fraud Risks

Fraud is on the increase

In 2024, US consumers reported losing over $12.5 billion to fraud, a 25% increase from the previous year. According to Federal Trade Commission data, the number of fraud reports actually remained stable but the percentage of people who reported losing money to a fraud or scam increased by 11%. Consumers reported losing more money to scams where they paid with bank transfers or cryptocurrency than all other payment methods combined.

In the EU, fraud losses reached €2 billion in the first half of 2023, while consumers in the UK lost £570 million to fraud in the first half of 2024, with a 16% rise in the number of cases compared with the same period in 2023. 

Regulation is on the rise too

In January 2025, Digital Operational Resilience Act (DORA) came into force in the EU to ensure financial firms can withstand cyber attacks and fraud-related disruption. DORA requires firms to identify and classify information and communication technology risks, implement detection, protection, response, and recovery plans and establish thresholds for incident reporting.

Under the UK’s Economic Crime and Corporate Transparency Act (ECCTA) 2023, large organisations face expanded corporate liability. Large organisations are defined as those that meet two of the following three criteria:

• More than £36 million in turnover
• More than £18 million in total assets
• More than 250 employees

Through the ECCTA’s ‘failure to prevent fraud’ offence coming into force in September 2025, such organisations face increased examination regarding how they detect, prevent, and respond to fraudulent activity. With stricter identity verification requirements, enhanced data sharing powers for Companies House, and greater scrutiny of corporate structures, large BFSI firms are now under more pressure to demonstrate robust fraud risk management, including having ‘reasonable procedures’ in place to prevent fraud.

Although Small and Medium-sized Enterprises (SMEs) are not directly liable under this corporate offence, they could still face increased scrutiny from financial institutions or regulators, especially if operating in high-risk sectors or jurisdictions.

With industry feedback pointing to fraudsters becoming more adept at compromising and, in some cases, circumventing security measures, for example by tricking customers into divulging their one-time passwords (OTPs), businesses should review their fraud risk prevention strategies to effectively protect their end customers, reputations and revenue. 

Accelerate your fraud detection efforts

Pasabi’s Fraud Risk Assessment is an excellent first step to understanding a businesses’ real risk exposure.

Our fraud risk assessment reveals hidden risks in your customer data before coordinated fraud and suspicious activity impact your bottom line.

Benefits

Connected Entities 

Looking beyond red flags, we uncover coordinated patterns of suspicious behavior across accounts, helping you expose not just incidents, but networks of bad actors.

‍Risk Reduction

Like a stress test for fraud and bad actors, our risk assessment provides a snapshot of exposure enabling you to take action before threats escalate. 

Our comprehensive report includes:

• a detailed breakdown of detected threats
• examples of suspicious behavioral patterns in customer data

Your report can help you strengthen risk management in your organisation and accelerate fraud detection by:

• understanding the scale and scope of existing threats
• identifying threat areas for automated action
• providing data for validation purposes
• Understand how to support human operatives

‍Comply with Regulation

As the FCA, SEC and other regulators are tightening expectations around digital resilience, our risk assessment helps you identify vulnerabilities in advance - and demonstrate proactive oversight.

No Integration Required 

By simply providing a secure, time-bound export of relevant data, businesses can access actionable insights - such as suspicious behaviour patterns, synthetic accounts, or emerging fraud networks - without disrupting existing systems or workflows.

How it works

The process is simple and straightforward. 

• Customers share historical data with us. 

• Using the same innovative AI & behavioral analytics technology as our core AI Fraud Prevention platform, we analyze key reputational factors across IPs, emails and our repository of known bad actors. 

• Clustering data together, we highlight key patterns and suspicious behaviors to detect fraud rings and the worst offenders. 

• By analyzing patterns and behaviors against our machine learning models and scoring engine, we detect patterns of non-genuine behavior. 

• This then enables us to generate insights into customers’ data, outlined in our risk assessment report to help tackle existing threats and shape their future response to platform fraud.

• With Pasabi’s AI-powered risk assessment, BFSI firms can expose bad actors and suspicious networks before they become financial or reputational liabilities - all with zero integration.

If you’re keen to learn more about our fraud risk assessment, get in touch today.