NextGen FinCrime 2026: How non-financial sectors can replicate banks’ success in fraud prevention

Fraud is no longer just a problem for big banks. As consumer financing and digital payments become standard at the point of sale, criminals are shifting their focus to retailers and non-financial businesses. For a business owner, this means your checkout process is now a primary target for sophisticated online attacks. The traditional methods of verifying a customer's identity are becoming obsolete as scammers use AI and automated tools to bypass simple security checks. To protect your revenue and your customers, you need to look at fraud prevention as a core part of your sales strategy, not just a back-office task. The industry is moving toward 'orchestration' platforms. These systems allow you to plug in multiple security data points—like device tracking and behavioral biometrics—without slowing down the customer's buying experience. If you offer Buy Now, Pay Later (BNPL) or in-house credit, the burden of verifying that 'the person is who they say they are' is increasingly falling on the merchant. You must adopt the same high-level security frameworks used by banks to ensure your financing programs don't become a magnet for bad actors. Failing to update your fraud stack could lead to higher chargeback rates and the loss of your financing partnerships.

Source: Finextra — Lending

← Return to the library· Submit a correction