The Fraud Dilemma: How to Prioritize Anti-Fraud Investments

The Fraud Dilemma: How to Prioritize Anti-Fraud Investments
Device identification. Anomaly detection. Transaction verification. When it comes to fraud prevention, there are nearly as many options as there are threats. So, how do you best prioritize your own investments in anti-fraud solutions?

Join this panel of experts, led by financial fraud expert George Tubin, as they explore:

  • Today's top fraud threats;
  • How to plan your technology investments;
  • Tips to secure internal buy-in for anti-fraud investments.

See Also: What's the Big Risk? How Failing to Effectively Manage Employee Password Security Leaves Your Business Exposed to Threats


In light of increasingly sophisticated fraud techniques - everything from account takeover attempts to ATM skimming and increasingly sophisticated phishing attacks -- financial institutions are under constant pressure to protect customer assets.

Further, embodied by the FFIEC Authentication Guidance, they face heightened regulatory pressure to assess risks, deploy layered security controls and to improve customer awareness of this ever-evolving threat landscape.

And a single misstep could result in a data breach that carries heavy financial, regulatory, customer, shareholder and reputational implications.

Among the anti-fraud options available to banks:

  • Device authentication/identification, which has a wide spectrum of approaches, some better than others.
  • Malware detection and mitigation, operating either from the cloud or on a user's device to reduce Man-in-the-Browser fraud from compromised endpoints.
  • Anomaly detection, which can take the form of simple rules to complex cross-channel behavioral analysis.
  • Transaction verification, which can be rules-based or triggered by anomaly detection and can then take several forms (token, SMS, phone verification, dual authorization).

So, how does an institution go about evaluating all of these options and deciding which fits its own risk profile best?

In this panel discussion, banking/fraud expert George Tubin will lead a lively discussion of today's top fraud threats and solutions. Among the topics to be tackled:

  • Regulatory Requirements - What are the basic expectations for assessing and mitigating fraud risks?
  • Investment Planning - What is your institution's fraud loss profile, and how can you best match mitigation approaches to your identified risks?
  • Selling the Solution - Once you've identified your anti-fraud solutions, how do you demonstrate value to stakeholders, and then win support for a prioritized investment plan?

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