In this episode of Fusion Fireside, author and international speaker Becky Holmes shares her perspective on fraud – how it’s evolving, where prevention falls short, and why understanding victims matters more than ever.

Becky's journey into this space was unplanned. During the COVID-19 lockdown, she began engaging with romance scammers on Twitter/X out of curiosity. What started as light-hearted exchanges quickly turned serious as real victims came forward with their experiences. That shift led to her well-received first book on romance fraud, "Keanu Reeves Is Not in Love with You", followed by "The Future of Fraud", where she explored broader trends through interviews with experts, law enforcement, and even former fraudsters.

Insights from the Fireside

• Fraud isn’t new, but its methods are evolving: AI, cryptocurrency, and social media have made scams more scalable, personalised, and harder to detect – even though the underlying tactics remain familiar.
• Prevention efforts are fragmented: Banks, law enforcement, tech companies, and regulators all work on the problem, but often in isolated silos. Collaboration – especially data sharing – remains limited.
• Fraudsters move faster than institutions: Criminals can adapt quickly without internal constraints, while organisations require approvals, budgets, and long development cycles.
• Social media plays a central role: Many scams now originate on platforms like X, Facebook, and TikTok. Becky questions whether these companies are doing enough to take responsibility..
• Technology has limits: Detection systems can stop suspicious transactions, but they struggle with emotionally driven scams where trust and manipulation are key.
• Victim stereotypes are misleading: Fraud affects all demographics. Common assumptions – such as romance fraud only targeting older women – don’t reflect reality.
• Shame and stigma reduce reporting: Many victims, especially men, are less likely to come forward, which distorts public perception and limits learning.
• There’s a gap between professionals and victims: Fraud experts often lack direct exposure to victim experiences, which can lead to blind spots in prevention strategies.
• Lived experience drives change: Victims and advocates are increasingly shaping the conversation, creating support networks and pushing for better awareness.

Final Thoughts

Fraud prevention is not just a technical challenge – it’s a human one. While tools and systems continue to improve, they can’t fully address scams built on trust, emotion, and persuasion.

What stands out from Becky Holmes’ perspective is the need for connection: between organisations, between experts and victims, and between technology and human understanding. Progress will depend as much on collaboration and empathy as it does on innovation.

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https://www.threatfabric.com/fusion-fireside