Often seen as annual pain point, information security programs serve a crucial purpose. Here’s how banks can spread that message internally.
With the ever-increasing complexity of payments fraud, banks need a hybrid approach to fraud detection that effectively coordinates and leverages all available technologies.
Educating both bank employees and customers on account takeover scams is the best defense against such fraudulent activity, say BAI Payments Connect panelists.
To deal with intensified fraud attempts, financial institutions need to employ layered detection systems based on real-time customer analytics.
While mobile fraud has been scarce up to this point, the entry of nonbank players complicates fraud prevention for the banks.