A recent survey of 115 U.S. financial institutions found that 93% of lenders say fraud is now contributing directly to their credit losses, and 82% reported those losses increased in 2026 compared to the year before. Much of that growth comes from complex and hard-to-catch fraud types, such as synthetic identity fraud, bust-out fraud, and application stacking. These risks may require cross-application or cross-institutional signals rather than isolated application checks.