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Alasdair Rambaud on the latest Barclays report

February 2022 by Alasdair Rambaud, Head of Fraud at Ping Identity

With a report by Barclays showing a 17% rise in all reported scams in the last three months, please see below commentary from Alasdair Rambaud, Head of Fraud at Ping Identity. Alasdair looks at how the onus is on businesses to protect customers from financial loss, and the steps they can take to stop malicious activity.

“Today’s figures highlight that far too much money is lost to scams in Britain. And while consumers need to take steps to protect themselves, businesses must also implement security measures to shield against attacks.

“By deploying the right technological solutions, businesses can leave automated systems to work behind the scenes. This technology has the power to detect and stop malicious activity, often before it occurs - invisibly defending against fraudsters to ensure consumers don’t lose hard-earned cash and that the company reputation remains intact.”

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