Digital scams have surged tenfold this year in the US and Canada as fraudsters increasingly leverage social engineering to deceive customers, according to cybersecurity firm BioCatch. This rise highlights the shift in criminal tactics that exploit human behavior rather than bypassing technology, posing significant challenges for financial institutions. BioCatch’s latest analysis revealed a dramatic increase in digital scams reported by banks during the first three quarters of 2023. As financial institutions implemented stronger technological controls to prevent account takeovers and other type…