Fraud is increasing, but damage remains unclear
Research among 800 professionals in 17 countries shows that the volume of fraud is rising. In the Netherlands, 57% of respondents report seeing an annual increase. Interestingly, 56% of them do not notice an increase in losses, while 44% indicate that they are losing millions per year to fraudulent transactions involving amounts between 5 and 9.9 million dollars per organization.
AI and social networks accelerate criminal innovation
AI tools are an important resource for financial fraudsters for 78% of global respondents. In the Netherlands, this percentage is slightly lower at 76%. The dark web (81%) and social media (76%) are increasingly used for recruitment, communication, and facilitating money flows. These digital channels enhance the speed and scale at which fraudsters can operate.
Money laundering as a weak point
More than three-quarters, again 78%, of respondents see that criminals are better at money laundering than banks are at detection. This poses a direct threat to the integrity of the financial system. Banks find themselves in a deeper hole and are also affected in their trust towards clients.
"Millions of money mules remain invisible in the global financial system and form the link between criminal networks and their profits," says Rob Vink, Pre-Sales Engineer at BioCatch. "Only by identifying these accounts in advance can we prevent money laundering. This requires continuous innovation, a focus on prevention rather than reaction, and close collaboration between all sectors."
Regulation is needed, but not enough
The call for stricter legislation is loud: 95% of Dutch respondents advocate for tougher rules against money laundering. At the same time, the survey shows that many banks still implement their AML approach (anti-money laundering policy) too fragmented. Three-quarters of respondents say that their institution usually only investigates the individual account when signals arise, while money laundering practices typically span chains of accounts.
"In 2023 alone, according to the Global Financial Crime Report from Nasdaq, 3.1 trillion dollars in illegal funds flowed through the global financial system. And that estimate may still be on the low side," says Vink. "Clients of BioCatch discovered and blocked nearly 2.3 million money mule accounts in 2024. In 2025, we are already above 500,000. Those numbers keep rising, and that means one thing: almost every major bank in the world is dealing with money laundering practices."
How to prevent fraud from causing structural damage
If you, as a bank or financial institution, do not want to constantly be playing catch-up, targeted strategies are needed. These five measures serve as guidelines for those looking to invest in future-proof fraud prevention:
1. Implement behavior and device biometrics
This technique provides quick, accurate detection of unusual behavior. Odd activities can thus be more easily flagged by employees, leading to a quicker response to (potential) fraud.
2. Integrate fraud teams with AML & cybersecurity
With dedicated staff, fraud can be detected and combated more quickly. Invest in fraud teams that specialize in AML - Anti Money Laundering - and cybersecurity. Prevention is of course the best approach, and such teams can help a lot with that.
3. Activate regulatory triggers
By asking for evidence or reasons for larger or unusual expenditures, you stimulate detection and deter fraudsters.
4. Build AI countermeasures
The increase in AI tools means that banks also need to protect themselves against synthetic deception. In this area, more and more is possible, but a simple bot test is also a good start
5. Train on scam education
I mentioned it earlier: prevention is always better than cure. Therefore, train your employees to recognize and combat fraud. In fact - you could train customers on the same as well. This way, you prevent an existing customer, who accidentally clicks on a phishing email, from becoming a victim and also work on your customer relationships.
Combating bank fraud in the Netherlands
The modern fraudster is mobile, digital, and organized. The banking sector faces the challenge of not only detecting faster but also anticipating smarter. Technology is both a threat and a solution in this regard. Only an integrated approach, with regulation, smart tech, and human alertness, offers relief.
