This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Molly Hetz, Product Marketing Manager at iovation. PaymentsJournalUnpacking the 2019 Financial Services Fraud and Consumer Trust Report: A Conversation with iovationPaymentsJournal Unpacking the 2019 Financial Services Fraud and Consumer Trust Report: A Conversation with iovationPaymentsJournaljQuery(document).ready(function ($){var settings_ap51867652 = { design_skin: "skin-wave" ,autoplay: "off",disable_volume:"default" ,loop:"off" ,cue: "on" ,embedded: "off" ,preload_method:"metadata" ,design_animateplaypause:"off" ,skinwave_dynamicwaves:"off" ,skinwave_enableSpectrum:"off" ,skinwave_enableReflect:"on",settings_backup_type:"full",playfrom:"default",soundcloud_apikey:"" ,skinwave_comments_enable:"off",settings_php_handler:window.ajaxurl,skinwave_wave_mode:"canvas",pcm_data_try_to_generate: "on","pcm_notice": "off","notice_no_media": "on",design_color_bg: "111111",design_color_highlight: "ef6b13",skinwave_wave_mode_canvas_waves_number: "3",skinwave_wave_mode_canvas_waves_padding: "1",skinwave_wave_mode_canvas_reflection_size: "0.25",skinwave_comments_playerid:"51867652",php_retriever:"https://www.paymentsjournal.com/wp-content/plugins/dzs-zoomsounds/soundcloudretriever.php" }; try{ dzsap_init(".ap_idx_84017_2",settings_ap51867652); }catch(err){ console.warn("cannot init player", err); } }); PaymentsJournal: Molly, thank you so much for joining me on today’s episode. So, iovation recently released a 2019 Financial Services Fraud and Consumer Trust Report. Would you mind giving our audience an overview of the findings from that report? Molly Hetz: Yeah, thanks so much for having me on the show with you today, Ryan. For the 2019 Financial Services Fraud and Consumer Trust Report, we really wanted to focus on looking at our data and seeing what kind of trends we’ve seen with financial institutions over the past year. We also wanted to speak with direct consumers by conducting an actual survey with them. What we really found was that fraudsters are targeting financial institutions. We’ve seen mobile go up by 50% of the time, meaning that they’re targeting mobile devices 50% of the time. We’ve seen mobile fraud really increase over this past year. We saw it go up significantly. In the report, the analysis that we did was over tens of billions of global online financial services transactions. And like I mentioned before, we went ahead and surveyed 1,604 consumers across the UK and the US. It was a really conclusive study that ranged across two different and really interesting markets when you think about financial services. PaymentsJournal: Certainly very interesting. Now, you pointed out there that fraudsters are going or attacking more mobile. I think you pointed out that 50% of the time it’s there, and I think that that’s very interesting. I would have to then make the assumption that consumers are using mobile more now because that’s where fraudsters are going, because usually the two are related on that. From the report, are you seeing that consumers are using mobile devices more in financial services? Hetz: Most definitely. 61% of traffic is actually coming from mobile, which is an increase from 2014, when it was just 28%. So we’ve seen an increase from 28% in 2014 to 61% so far in 2019. That’s a huge increase. This is mobile device usage,