Financial Fraud Prevention

New Report: Behavioral Analytics, Machine Learning Keep FIs On Cutting Edge Of Fraud Prevention Traditional data breach tactics have been replaced by schemes leveraging artificial intelligence, malicious bots and synthetic identities to snag valuable financial data. Financial institutions (FIs) require similarly high-tech countermeasures to meet these new threats — or risk falling prey to fraud. In the Financial Prevention Playbook, PYMNTS examines how FIs can use behavioral analytics and machine learning to tackle fraud in the digital age.
Inside the April Playbook
  • 95 percent: Maximum share of fraudulent synthetic identities missed by traditional security protocols when processing new accounts or purchases
  • $15,000: Average charge-off balance per synthetic fraud ID attack
  • 9 percent: Minimum portion of credit card losses that are due to synthetic identity fraud

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    Featurespace Report Series

    The State of Fraud And Financial Crime In the U.S.
    The New Digital Shift: Creating A Cloud-Based Risk Management Strategy
    FRAML Payments Guide: How To Deploy A Holistic Risk Hub
    Augmented AML And Fraud Risk Management: Analytics Guide To Enhanced Alert Generation
    Modern Banking Ecosystem