Resources/Webinars/Mayday! How Economic Downturns Create a Perfect Storm for Fraud

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Mayday! How Economic Downturns Create a Perfect Storm for Fraud

Economic instability brings more than just financial adversity – it opens the door for fraud to flourish.

During the three month recession in 2020, the GDP fell 32.9%, leading to +8% growth in fraud in the U.S. Since 1988, every major recession has resulted in an increase in fraudulent attacks on both consumers and businesses. Historical data shows us a consistent pattern: as the economy declines, fraud rates rise. This is an ominous trend since global brokerages recently raised the odds of a recession taking place in 2025 to 60%. ‍

What you’ll learn

  • The history of fraud in times of recession/economic downturns
  • How financial institutions can evaluate infrastructure vulnerabilities
  • How to identify and mitigate areas of risk
  • How to protect the trusted relationship with your customers during times of economic uncertainty and market volatility

Speakers

Rahul SoodHOST

Chief Product Officer, Pindrop

Lee E. Ohanian

Professor of Economics & Senior Fellow, UCLA & Stanford University

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