How Banks Can Adapt to the Rising Threat of Financial Crime

**Executive summary:** The report warns that banking fraud and financial crime are accelerating—driven by generative AI, synthetic identity fraud, account takeovers, and API attacks in Banking-as-a-Service (BaaS) ecosystems—and advises banks and BaaS partners to adopt AI-driven detection, stronger identity verification, shared risk frameworks, clear roles and responsibilities, continuous monitoring, audits, joint training, and human analyst oversight to mitigate these evolving threats.