Preventing bank fraud: The role of antifraud technology and human behavior

The requirements and standards for information security are continuously being enhanced and revised, driven by various external factors such as the COVID-19 pandemic and the rising expertise of cyber attackers. As a result of this cyber arms race, novel methods and vectors of attacks are emerging. In addition, an increasing number of people in the world are utilizing mobile devices and other remote work means. This poses additional security challenges. Implementing antifraud systems in financial institutions can considerably mitigate the impact of both traditional and new types of fraudulent schemes. Challenges faced by banks Notably, patterns of user behavior have… [Continue Reading]