Press Release: Outseer Releases Latest Fraud & Payments Report for 1H 2022

Wealth Management

Defeat Imposters While Dialing Up Your ROI

Easily distinguish clients from cybercriminals—and turn security, convenience, and trust into a key differentiator.

Prevent financial & reputational damage

Cybercriminal organizations with as much technological prowess as any global enterprise are increasingly targeting affluent individuals and the firms that manage their financial lives. This includes wealth management, estate planning, tax and legal services, and other firms entrusted to manage more than $111 trillion in assets for a well-heeled clientele. Whether the target is a corporate mogul or the millionaire next door, fraudsters are deploying expertly-crafted phishing scams, bogus brand apps, and phony social media pages designed to fool victims into revealing their login credentials. Once these credentials are harvested, cyberthieves are free to hijack and drain banking, retirement, and other accounts. According to Javelin Research, account takeovers (ATOs) jumped 79% in 2021, leading to $52 billion in losses. And then there's the fallout. If wealth management firms are impersonated in these scams, they’re likely to pay a steep price, too.
That's because up to 67% of consumers who fall victim to impersonation attacks will switch financial services firms. And according to Forrester, lost customer trust or even just suspicion can reduce revenues up to 25% for a full year. With Outseer, you avoid all that.Through identity science, predictive analytics, and strong authentication options such as FIDO compliant biometrics and passwordless authentication methods, we provide the foresight to block ATO attacks at the door. And our 24/7 fraud intelligence and cyberattack takedown service proactively ferrets out the phishing sites, rogue apps, and bogus social media pages behind these scams—before they can harm your customers or your firm. Because nothing's more personal than one's financial wellbeing. Security, convenience, and trust are critical to your success. And when it comes to defeating imposters who would endanger these things, nobody outdoes Outseer.

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Outseer FraudManager™

Protect activities and transactions across all digital channels while delivering a frictionless user experience.

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Outseer FraudAction™

Comprehensive threat management service that continuously monitors the cybercrime landscape to protect your business.

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