BioCatch: 90% of banking scams now happen on mobile devices

A BioCatch report found banking scams rose 35% over the past year, with 90% of all scam attempts now targeting mobile devices. Purchase scams are the most common at 33%, while investment scams are the costliest at an average of $6,600 per case.

• Banking scam attempts rose 35% over the past 12 months
• 90% of all scams take place via mobile phones
• Romance scams increased 23% year over year
• Investment scams are costliest at $6,600 average per case