The Knoble and BioCatch Launch Measuring the Impact of Authorized Push Payment Scams
CHATTANOOGA, TENN. AND NEW YORK (May 15, 2025) – Financial scams are on the rise globally, resulting in billions in financial losses for both financial institutions and the individual consumers they serve. The Knoble, a coalition of financial service professionals, law enforcement, regulators, and non-profit organizations dedicated to combating human crime, and BioCatch, which prevents financial crime by recognizing patterns in human behavior, are pleased to announce the release of a scams control business case: “Measuring the Impact of Authorized Push Payment Scams: A Practical Framework for Financial Institutions.”
This powerful resource package, comprised of a cost-justification calculator, a practical guide, and a strategic presentation, aims to equip financial institutions with the tools they need to build a compelling business case for proactively investing in scam-prevention controls. The initiative was developed with one goal in mind: To help banks articulate not only the ethical imperative of scam control programs but also their return on investment.
“Scams are not isolated financial crimes; they are deeply connected to human exploitation,” said Emma Campbell, Director of Program Delivery. “Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action.”
Scams have evolved beyond isolated incidents, as organized criminal groups intertwine their scamming operations with human trafficking, elder exploitation, and a variety of other crimes. This comprehensive business case toolkit draws upon financial trends, global benchmarks, and case studies to illustrate how investing in scam prevention can yield substantial cost savings, foster customer trust, and mitigate the potential for long-term financial losses.
The cost calculator helps stakeholders quantify the impact of scam losses. The accompanying guide offers clear instructions on using the calculator, while the presentation deck helps fraud leaders advocate for strategic scam control funding across the C-suite.
“Scammers today aren’t only lone-wolf, individual operators,” BioCatch Senior Global Advisory Director Seth Ruden said. “Increasingly, scams originate from industrialized complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defenses.”
The full resource package is available exclusively to members through the Knoble Network Member Center Resource Library. Not yet a member? Visit theknoble.com/join-the-fight to join and gain access to this and other critical tools.
About BioCatch:
BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch’s machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company’s Client Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, more than 30 of the world’s largest 100 banks and 267 total financial institutions deploy BioCatch solutions, analyzing 14.9 billion user sessions per month and protecting 511 million people around the world from fraud and financial crime.
About The Knoble:
Founded in 2019 by Ian Mitchell, we are a non-profit network of Financial Institutions, law enforcement, financial services, and NGOs passionate about fighting Human Crime — scams, human trafficking, child exploitation, and elder abuse. Through thought-leadership projects and industry-leading initiatives, we are a network of professionals dedicated to making a difference. Join us today, apply for vetting at The Knoble.com, and receive complimentary access to The Knoble Network Member Center, where like-minded professionals join to connect and participate in roundtables, forums, and more. Reach out to Ken@TheKnoble.com if your organization is interested in becoming a corporate member or sponsoring an initiative.
PR Contacts:
Mac King
BioCatch Director of Global Marketing Communications
Mac.King@BioCatch.com
Rose McQuitty
The Knoble Communications Director
Rose@TheKnoble.com
