Moody's has identified a rise in new romance scam profiles, with India among the top 10 countries. The United States leads with 38%, followed by Nigeria, India, and the UK. The pandemic heightened vulnerability to financial grooming scams, contributing to a 14% increase in 2024. This escalation underscores significant reputational risks and fines for banks.
from Banking/Finance-Industry-Economic Times https://ift.tt/6l8EdQJ
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