BioCatch & The Knoble launch toolkit to bolster scam defences
The initiative includes a comprehensive resource package called "Measuring the Impact of Authorised Push Payment Scams: A Practical Framework for Financial Institutions." This package provides tools such as a cost-justification calculator, a practical guide for fraud and risk teams, and a presentation deck to assist executives in securing funding for scam-control strategies.
The toolkit is designed to assist banks and other financial institutions in quantifying the true financial impact of scams, enabling them to demonstrate the return on investment for proactive scam prevention controls, as well as highlighting the ethical necessity.
Emma Campbell, Director of Program Delivery, said, "Scams are not isolated financial crimes; they are deeply connected to human exploitation. Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action."
The increasing sophistication of scams has made them more than just isolated events. Organised criminal groups are often involved in wider criminal activities, including human trafficking and elder exploitation. This connection has added urgency for financial institutions to adopt more robust anti-scam measures.
The toolkit draws upon financial data, global benchmarks, and real-world case studies to show how targeted investment in scam prevention can lead to cost savings, improved customer trust, and a reduction in long-term financial risks. The included cost calculator enables stakeholders to quantify scam-related losses, while the practical guide provides instructions for its use. The presentation deck is intended to support fraud leaders in advocating for funding in discussions with senior management.
Seth Ruden, BioCatch Senior Global Advisory Director, commented, "Scammers today aren't only lone-wolf, individual operators. Increasingly, scams originate from industrialised complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defences."
To support adoption of the business case toolkit, BioCatch and The Knoble will hold a webinar to review the toolkit's features, demonstrate the use of the cost calculator, and discuss key strategic considerations for implementing scam control measures following executive buy-in.
The toolkit is available exclusively to members through The Knoble's member resource library.
BioCatch applies behavioural analytics to monitor digital interactions with banking platforms, helping distinguish legitimate users from criminals by analysing patterns in device use and behaviour. The company works with clients from major global banks and financial institutions to improve fraud detection.
The Knoble is a non-profit organisation established in 2019 that unites professionals from financial institutions, law enforcement, regulators, and NGOs to combat human crime, including scams, trafficking, child exploitation, and elder abuse.
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