How Banks Can Get Ahead on Fraud Risk Management
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Management of fraud risk goes hand in glove with the business of banking. Indeed, as creators of money and trusted intermediaries, banks are inherently exposed to deceits that harm both the business and its customers. To combat fraud, banks have invested heavily in tools and resources. However, the efforts have been only partially successful.
In fact, fraud losses are rising—in the US, for example, losses from internet scams rose from $2.7 billion in 2018 to $10.3 billion in 20222—while in the UK, financial fraud has been characterized as a threat to national security.
In this eBook you'll learn:
The complex pressures driving change in the industry
Current fraud challenges banks are facing
How banks can break silos and join the dots in fraud management
A deep dive into a new approach to fraud risk management for banks to leverage