Broadcom Launches Arcot Scam Defense to Block Social Engineering Fraud
Key Highlights
- ➤Broadcom launches Arcot Scam Defense for card-not-present social engineering fraud
- ➤Nearly $500 million in fraud reported on successfully authenticated challenges over 12 months
- ➤Pilot issuer could have protected $4 million monthly by reviewing top 1% of successful challenges
- ➤Pilot protection would have reduced authentication success rate by 0.38 percentage points
Expert Statements
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“Financial institutions are experiencing broad increases in fraud attempts driven by sophisticated, AI-enhanced social engineering attacks.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“While technological security systems have advanced and are highly effective at blocking fraud, fraudsters have pivoted their efforts to hacking customers directly.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“By impersonating trusted brands and institutions, they trick cardholders into revealing passwords or completing step-up authentications.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“Cardholders usually remain unaware that they have handed over the keys to the castle until after the scam.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“Arcot Scam Defense closes a critical gap.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“It serves as the definitive safety net against social engineering attacks.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“Operating as a real-time second layer of defense, it leverages advanced intelligence during authentication to flag suspected fraud – even after a successful challenge.”
Matt Cooke, Vice President and General Manager, Payment Security Division, Broadcom
“By closing the approval door on these attacks, we increase cardholder safety and drive down fraud losses, while continuing to allow legitimate transactions through.”
PALO ALTO, Calif., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops, and supplies semiconductors and infrastructure software, today announced the launch of Arcot Scam Defense, a groundbreaking new feature of Arcot by Broadcom, designed to block social engineering fraud during card-not-present (CNP) transactions.
“Financial institutions are experiencing broad increases in fraud attempts driven by sophisticated, AI-enhanced social engineering attacks,” said Matt Cooke, vice president and general manager, Payment Security Division, Broadcom. “While technological security systems have advanced and are highly effective at blocking fraud, fraudsters have pivoted their efforts to hacking customers directly. By impersonating trusted brands and institutions, they trick cardholders into revealing passwords or completing step-up authentications. Cardholders usually remain unaware that they have handed over the keys to the castle until after the scam.”
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