Fraud tactics now evolve on an hourly cycle. For banks, fintech, digital lenders, and payments players, the question isn't whether rules still help - it's whether they adapt fast enough. Recent numbers from Alloy's 2024 Financial Fraud Statistics underscore the shift: over 50% of surveyed institutions saw business fraud rise, two-thirds reported higher consumer fraud, and generative AI could drive $40B in bank losses by 2027. It's no surprise that more than half are raising third-party spend, with three in four prioritizing identity risk capabilities.