Financial Fraud Prevention

Banking institutions lose billions of dollars each year to fraud, and every dollar lost comes with a 4X multiplier that jacks up the costs. ServiceNow’s Greg Kanevski talks with BAI’s Terry Badger about how banks and credit unions can put data to better use to push back on the bad actors and save big money in the process.

SIM-swap fraud has become a significant threat in financial services. Banking customers reliant on SMS OTPs to access or authenticate their accounts or transactions are left especially vulnerable.

Criminals are exploiting the instant nature of real-time payments. Financial institutions need to stay ahead of financial crime as well as strike the right balance between customer experience and de-risking payments.

Gain insights from industry leaders at KeyBank, US Bank and BAI about what types of fraud are on the rise and what they’re doing to combat it effectively.

Scammers take advantage of the human desire to be connected, build relationships and gain trust. Behavioral biometrics can help protect financial institutions and their customers from scams, even when genuine users are participating in the fraud transaction.

Deterring synthetic identity fraud doesn’t have to come at the price of a seamless customer experience. Banks and credit unions can prevent and manage fraud by implementing an innovative, multi-layered, consumer-centric, flexible identity verification strategy.