BAI Executive Report

Finding an edge in fraud’s cat-and-mouse game

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Fraud continues to be a top challenge for financial services organizations as we head into the new year, and today’s fraud prevention involves more than automation.

In this month’s BAI Executive Report, we examine where things stand with fraud protection and how it can be done more efficiently and effectively, including looking at the role of both humans and technology in fraud prevention strategies.

Articles in this report include:

The art and science of fraud prevention
AI and machine learning add speed and power to fraud-prevention efforts, but skilled people are needed for the judgment calls.

Deposit accounts in the fraud crosshairs
The rapidly growing trend, driven by powerful technology, combines new (P2P payments) and old (check washing) into a vexing mix.

Banks need to be ready for better deep fakes
The technology is getting better for both audio and video, which will create new use cases for scamming banks and their customers.

Fraud detection is faster, yet still too slow
The goal for banking institutions is not only to detect fraud in as close to real time as possible, but also to anticipate the bad guy’s next move.

Striking a balance between fraud and friction
How identity-verification solutions can streamline workflows and build consumer trust.

Managing the risks and rewards of faster payments
Small and midmarket financial institutions need layered approaches to fraud prevention that also support a differentiated banking experience.

Mitigating the challenges of ‘piggybacking’
Purchasing an authorized user tradeline is not technically illegal, but it abuses regulatory intent and elevates credit risk for banks.

Protection from check fraud in a digital world
High-tech printers, specialized ink and other advances can add security to a payment method still embraced by many businesses of all sizes.