Consider these disturbing facts: 1) Fraud costs an average of $82 billion per year, 2) Twenty-five percent of the public believes it is acceptable to commit fraud, 3) There were 17 billion connected devices in 2018 and 50 billion devices today. These facts should raise a flag that fraud and technology should be on the strategic radar as immense losses result from suspicious claims.

Technology is all around us, from self-driving cars and personable wearables, smart appliances and connected cities. All of these platforms push data into circulation — data that causes a shift in our psyche. This shift in psychology is also evident in the fraudster, and companies will need to adjust their strategies to face this new type of criminal effectively.