Somos Survey Exposes Rising Fraud Risks Facing Financial Institutions [Yahoo! Finance]
Financial Institutions, Inc. (FISI)
Last financial institutions, inc. earnings: 4/30 04:05 pm
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Source: Yahoo! Finance
challenge for financial institutions, with costs that extend from lost revenue and compliance strain to reputational damage and eroded trust. Somos released findings from its new report, "The Cost of Trust: The Impact of Fraud on Financial Institutions," based on responses from more than 200 U.S.-based financial professionals directly involved in their institution's fraud prevention measures. The research aimed to assess the prevalence of fraud , identify the most common types encountered and examine the resulting impacts on reputation, compliance and financial performance. The results paint a clear picture: fraud is everywhere, it's costly and it's eroding trust. Nine out of ten institutions reported an increase in fraud attempts over the past year, with phishing being the most common fraud vector and 98% of institutions experiencing it. Smishing is rising fast, with 76% reporting incidents and payment scams are close behind at 75%. Vishing, robocalls, spoofing and impersonation
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FISI
Earnings
- 4/28/25 - Beat
FISI
Sec Filings
- 1/9/26 - Form 5
- 1/9/26 - Form 5
- 1/9/26 - Form 5
- FISI's page on the SEC website