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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Fraud to Cost Financial Institutions $58.3 Billion by 2030 Globally, as Synthetic Identities Threaten Fraud Tidal Wave

HAMPSHIRE, United Kingdom, Aug. 18, 2025 (GLOBE NEWSWIRE) -- A new study by Juniper Research, the foremost experts in fintech and payment markets, forecasts a 153% surge in fraud by 2030; rising from $23 billion in 2025 to $58.3 billion in 2030.

This is driven by an evolution of fraud techniques such as synthetic identity fraud, which is when identities are created using a mix of real, stolen, and fake information to create new personas to open accounts and apply for credit. This fraud innovation is driving a surge in investment in new fraud prevention techniques.

Find out more: Fraud Detection & Prevention in Banking Market 2025-2030, or download a free sample.

Growing Threat of Synthetic Identity Fraud Necessitates Dynamic Verification

Synthetic identity threats are becoming more sophisticated; leveraging AI to quickly create convincing new identities based on existing, stolen information. This allows identities to stay under the radar for longer, and steal more money from banks. As these identities are partly based on genuine information, they can pass traditional, static fraud checks; forcing financial institutions to upgrade their fraud detection and prevention techniques.

To combat this, banks must verify identity throughout the customer lifecycle. Biometric behavioural analysis, such as typing rhythms or touch patterns, plays a crucial role; identifying anomalies in real-time.

According to Lorien Carter, Senior Research Analyst at Juniper Research, “The rise in fraudulent transactions has effects reaching beyond fraud loss. The recent spate of banks being fined for failing to correctly identify high-risk transactions, such as Monzo, Barclays, and TD Bank, displays that regulators are taking this issue extremely seriously. Financial institutions must increase investment in their fraud detection teams and technology to avoid further monetary and reputational losses.”

The Research Suite

The new market research suite offers the most comprehensive assessment of fraud detection and prevention solutions in the banking market to date; providing analysis and forecasts of over 24,600 datapoints across 61 countries over five years. It includes a ‘Competitor Leaderboard’ and examination of current and future market opportunities.

View the research: https://www.juniperresearch.com/research/fintech-payments/fraud-security/fraud-detection-prevention-banking-market-report/

Download the sample: https://www.juniperresearch.com/resources/free-research/synthetic-identity-fraud-the-lurking-threat-to-modern-banking/

Juniper Research has, for two decades, provided market intelligence and advisory services to the global financial sector, retained by many of the world’s leading banks, intermediaries and providers.


Contact Sam Smith, Press Relations

T: +44(0)1256 830002

E: sam.smith@juniperresearch.com

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