Financial Institutions Face Surge in Vishing, Spoofing Scams

Valley Bank's Nisan Bangiev on Using Multilayered Defense Against Identity Fraud Anna Delaney (annamadeline) • November 11, 2025

Vishing and spoofing scams pose one of the biggest threats to financial institutions and their customers. Fraudsters are impersonating bank employees to extract sensitive account data, draining customer trust in the process. "It's been a very big hurdle for us as an industry to deal with," said Nisan Bangiev, director and fraud risk officer at Valley Bank.

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These scams are difficult to prevent because attackers exploit human emotions like fear to manipulate victims. He advises banks to rethink how they validate identity, moving from static identifiers to behavioral and digital profiling models that detect anomalies and confirm authenticity in real time.

"What you need to do is create a profile of someone and understand, 'Hey ...