Banking
Banking on trust: The power of a community-driven approach to fraud prevention
Fraud has been a hot topic since the 1780’s when the U.S. banking system came into being. Back then, the pioneers of financial fraud often swindled investors with false business proposals or used insider information to manipulate the fledgling stock market. As the banking industry and the stock market became more regulated,...
Cracking the Fraud ROI Maturity Curve: The Path to Sustainable Growth
Successful fraud prevention programs look different at every company. But there are certain markers of efficacy and maturity you can measure as you move up the ROI curve. Most companies see fraud prevention as an operational expense, which makes proving ROI at every stage of your fraud program’s growth essential. I'll break...
Fraud Fight Club
What do you get when you combine a passionate community of fraud fighters with a boxing ring and loads of knowledge and energy… Fraud Fight Club. Fraud Fight Club was designed to be more than a conference. It’s a club. It’s your best fraud fighting pals (you know and don’t know) descending...
Fakers Gonna Fake: How to Detect and Prevent Synthetic Identity Fraud
Confirming the identity of an existing account holder or for a new account opening is an expensive responsibility looming over the financial sector. Without proper oversight and controls, it results in massive losses, regulatory fines, and the threat of reputational damage. As fraudsters become increasingly savvy and their attacks become more sophisticated,...
The Rise of Scam Culture: Should our Industry be doing More?
"Hello?" a sweet-sounding female voice answers before the connection turns to static and the call drops. "I'm sorry," a followup message reads. "My phone's mic is broken. It's better if we use WhatsApp." In Ghana, victims of romance scams will be familiar with this kind of interaction. There is never a sweet-sounding...
Banks Cooperating to Combat Fraud in the EU
Fraud in EU countries is evolving. Criminals are increasingly shifting their targets from banks themselves to bank customers through scams like CEO fraud, account takeovers and phishing. Various reports discuss the reasons behind the increase in these customer-centered attacks, but less research has gone into understanding what banks can do to stop...