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CNBC

Banks are reporting a ten-fold surge in digital scams, cybersecurity firm BioCatch says

CNBC
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U.S. and Canadian banks report ten-fold surge in digital scams this year .

Criminals flock to techniques that rely on duping customers into sending them money.

Banks have put in place more controls to prevent account takeovers and other forms of fraud.

Rise of "social engineering scams" began around five years ago , but "really started to take off" in the past 18 months .