Case Study: Top LATAM Bank reduces social engineering fraud with BioCatch behavioral biometrics

Top LATAM Bank Reduces Social Engineering Fraud Targeting Mobile Users by 67% with Behavioral Biometrics

Top LATAM Bank was seeing a surge in social engineering fraud targeting its mobile banking customers, with these attacks making up a large share of global fraud. Despite existing AML monitoring and OTP authentication, the bank needed a way to protect a mobile-first user base without adding friction. BioCatch behavioral biometrics was brought in to help secure the mobile banking experience.

BioCatch deployed behavioral biometrics to add continuous session visibility and detect subtle signs of fraud beyond the transaction stage, while keeping the customer journey seamless. The bank detected more than 80% of social engineering fraud immediately after implementation, cut social engineering fraud by 67% within months, and kept 99.97% of mobile sessions frictionless, while also maintaining a low false positive rate of 0.15–0.21%.