Today’s Fraud Policy and Procedure Considerations
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New technology provides financial services organizations opportunities to expand their offerings to better serve their customers. Unfortunately, this technology also provides new tactics for criminals to commit fraud. Businesses need to have strong fraud policies and procedures in place to ensure everyone in the organization is aligned on various fraud tactics and how to identify and prevent them.
In this article, BAI explains what financial services organizations should consider when developing and updating fraud policies and procedures. Topics include:
- Conducting assessments of potential fraud risks
- Monitoring user behavior patterns to identify anomalies
- Utilizing data analytics to identify patterns and trends
- Identify fraud technologies
- And more
To learn more on how to protect your organization and its customers with effective fraud policies and procedures, download BAI’s article "Today’s Fraud Policy and Procedure Considerations" today!