BioCatch Report: 90% of Banking Scams Now Target Mobile Devices as Global Fraud Rises 35%

Attempted banking scams rose by 35% over the last year, according to new data from 370 financial institutions. While the growth rate has slowed, the surge in employment scams and the dominance of mobile-based attacks present a critical challenge for fintech security teams tasked with protecting more than 760 million global users from AI-powered social engineering.

What was announced

The 2026 Global Scams report reveals that while the volume of attempted scams continues to climb, the rate of growth has decelerated from 65% in the previous year to 35% today. This shift suggests that the implementation of behavioural intelligence is beginning to deter bad actors, even as artificial intelligence lowers the barrier to entry for sophisticated social engineering. The data, drawn from institutions serving 760 million users across 21 countries, highlights a massive 258% increase in employment scams, marking it as the fastest-growing threat of the year.

Investment scams remain the most financially damaging, with an average case value of $6,600—five times the average of other scam types. Purchase scams continue to be the most frequent, accounting for one-third of all reported attempts. A significant trend identified is the near-total migration of scammers to mobile channels; 90% of all scam sessions now originate from mobile devices, compared to 75% for traditional unauthorised fraud. The report also details the infrastructure of these operations, ranging from large-scale "seven-story" hubs to individual actors. Technical indicators used to identify these threats include the presence of remote access software, active phone calls during banking sessions, and unusual patterns in how users add new beneficiaries.

"Social engineering scams have not suddenly become less prevalent or sophisticated. If anything, artificial intelligence has lowered the barrier to entry for aspiring scammers, allowing more bad actors to create more convincing scams at a scale we’ve never seen before. In response, many banks have realised behavioural intelligence enables them to recognise signs of manipulation and coercion before an accountholder ever authorises a transaction."

Thomas Peacock, Director, Global Fraud Intelligence at BioCatch.

The companies involved

BioCatch is a specialist in behavioural biometrics and fraud prevention, utilizing user behaviour patterns to distinguish between legitimate customers and criminal actors. The company has established a significant footprint in the global financial sector, providing intelligence to hundreds of institutions to combat evolving digital threats. In August 2026, the company reached a major milestone when Visa announced its intention to acquire BioCatch for $2.4 billion, a move designed to integrate advanced behavioural detection into the global payments giant’s security stack. This acquisition highlights BioCatch's position as a critical player in the fight against AI-driven fraud.

The report also features insights from Operation Shamrock, an organization focused on investigating and dismantling scam operations. Erin West, the founder and a former prosecutor, leads the group’s efforts to expose the criminal infrastructure behind global fraud networks, particularly those operating out of regions like Nigeria. By combining institutional data with ground-level investigative intelligence, these organizations aim to address both the technical and human elements of the scam ecosystem. Jonathan Frost also contributed to the findings as Director of Global Advisory at BioCatch.

What FF News has reported before

FF News has closely tracked the escalation of digital fraud and BioCatch’s role in the market. In August 2026, we covered the landmark deal where Visa to Acquire BioCatch for $2.4 Billion to Combat AI-Driven Fraud and Scams. This followed our reporting on regional trends, including how 91% of Singaporean Banks Report Surge in Fraud Attempts as Financial Risks Outweigh Reputation Concerns. More recently, we examined the geopolitical and technological shifts in the sector, reporting on how the UK and Cambodia Unite Against Scam Centres as BioCatch Warns of AI-Powered Fraud Shifts. Additionally, the company’s research previously highlighted that BioCatch Report: U.S. Impersonation Scam Losses Skyrocket 130% as AI Accelerates Fraud Evolution, underscoring the persistent threat of social engineering.

What this means

The slowing growth rate of scam attempts suggests that the industry’s shift toward proactive behavioural monitoring is yielding results, but the sheer volume of mobile-based attacks puts immense pressure on traditional banking apps. As scammers pivot toward high-growth areas like employment fraud, the financial sector faces a difficult question: how much responsibility should banks bear for payments that customers technically authorize themselves? While reimbursement schemes provide a safety net, they do not address the root cause. The industry is now at a crossroads where the ability to detect coerced behaviour in real-time will likely become the standard requirement for any institution operating in the digital economy.