Balkan Banking Experts Warn: 79% Say Fraudsters Are Ahead of Banks in AI 

Sarajevo, Bosnia and Herzegovina – October 13, 2025 – Criminals are winning the AI arms race in financial fraud. This was the resounding message from over 170 fraud prevention professionals representing more than 50 banks across 12 countries – with a strong presence from the Balkan region – who convened at Sarajevo Banking Fraud Summit, hosted by ThreatMark, a leader in fraud disruption. 

According to a live poll conducted during the event, 79% of experts said fraudsters are currently ahead of banks in their use of AI. None of the respondents believed banks are leading. 

From Account Takeover to APP Fraud 

Professionals also observed a significant shift in fraud typology: away from traditional Account Takeover (ATO) – where criminals gain unauthorized access to a customer’s account – towards Authorized Push Payment (APP) fraud, in which victims are tricked into transferring money to fraudsters themselves.

This evolution reflects a broader trend where AI-powered scams target people, not passwords, relying on manipulation, impersonation, and deepfake-level deception. 

“APP fraud is particularly dangerous because it bypasses traditional security checks – the payment is authorized by the victim. Preventing it requires a behavioral approach and next-gen fraud intelligence,” said Michal Tresner, CEO at ThreatMark.

Survey Highlights: 

• 79% bank experts believe fraudsters are ahead in AI capabilities 

• 61% say customer awareness of fraud is low or very low 

• Only 4% believe regulators provide strong support against fraud 

• Top challenge: Customer education & awareness (30%), followed by sophistication of fraudsters (19%) 

What Banks Recommend: Expert Insights from Sarajevo

Drawing from the discussions and live polling during the summit, participants shared clear priorities for the financial sector to effectively counter modern fraud: 

• Boost customer education and awareness campaigns
  Institutions must step up their efforts to educate customers about scams, particularly APP fraud, impersonation, and social engineering tactics that use manipulation to bypass technical defenses. 

• Foster cross-bank and cross-border collaboration
  Fraud doesn’t respect borders. Experts called for better cooperation across institutions and geographies – including sharing threat intelligence and fraud patterns in real time. 

• Invest in AI-powered behavioral fraud detection
  To counter the speed and scale of fraudsters’ tools, banks should adopt next-gen systems that detect anomalies in user behavior, not just credentials or devices. 

• Engage regulators to push for agile frameworks
  With only 4% of respondents believing regulators offer strong support, banks emphasized the need for regulatory bodies to modernize their approach to fraud prevention. 

• Balance security and user experience
  Fraud defenses must be effective but seamless – reducing friction for genuine users while identifying and stopping suspicious behavior at the right time.
   

“Cyber and fraud are no longer separate problems, they’re the same fight. By uniting our SOC and Fraud Ops around shared device, network, and transaction signals, we cut time‑to‑contain, lower losses, and strengthen customer trust,” concluded Belma Ohranović, Head of Security at Raiffeisen Bank d.d Bosnia and Herzegovina.