Wealth management firms face an unprecedented surge in sophisticated fraud attacks targeting client assets and institutional reputation. This discussion examines three primary attack vectors: check fraud exploiting outdated verification systems, application fraud using synthetic identities and identity theft, and account takeover attacks.

We will discuss evolving tactics, including AI-generated fraudulent documents, the current scampocalpse that entails the social engineering of targeting high-net-worth clients, exploitation of digital transformation security gaps, and old-fashioned check fraud. The session will discuss the practical defensive strategies firms are implementing, including advanced behavioral analytics, multi-layered authentication protocols, real-time transaction monitoring, and machine learning fraud detection. Attendees will gain actionable insights for building resilient fraud prevention frameworks and fostering security-conscious organizational cultures.