About Thomas Peacock

Spanish banks working with BioCatch, which prevents financial crime by recognizing patterns in human behavior, reported a 23% decline in overall fraud attempts in the first quarter of 2025 from the same period a year ago. By comparison, a recent survey of banking leaders at banks around the world found 73% of Spanish respondents reported an increase in fraud attempts at their organization. The bulk of this reduction among BioCatch partners comes from a 52% decrease in third-party account takeover fraud (ATO). Social engineering scam case volumes remained flat, now accounting for 58% of all reported fraud in the country.

UK financial institutions are stepping up their fight against money laundering and fraud, but the threat is evolving fast. According to BioCatch’s inaugural Dark Economy Survey, 65% of UK fraud and compliance leaders believe criminal enterprises are now more sophisticated at laundering money than the banks trying to catch them.