Author: Jayaprakash Kavala

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Are banks using customers’ ‘Situational Intelligence’ for effective real-time fraud protection?

How can you make your bank’s customers control transactions on their accounts and use it as an effective fraud protection mechanism? Customer communication and preferences can be vital in detecting fraud early and costs far less. Consider the following scenarios: A customer is going on vacation to Switzerland for 2 weeks and he wants all the card transactions (debit card and credit card) originating from home country...

Anti fraud and anti money laundering

Anti-Fraud and Anti-Money Laundering in Banking- The Common Denominators

We have been hearing from multiple banks on their plans to align the anti-fraud and anti-money laundering efforts within their organizations. Over the past few years we have seen many manifestations of sophisticated fraudsters and money launderers across the globe which is what is making the bankers re-think their strategy and execution to curb these attempts. Clearly fraud risk and money laundering risk are the key containment...

Top 10 Priorities of Anti-Fraud Banking Executives in 2014 0

Top 10 Priorities of Anti-Fraud Banking Executives in 2014

 Anti-Fraud Banking Executives in 2014: I have been interacting with numerous banking executives across the globe this year regarding their anti-fraud initiatives. As we approach the year end, I would like to sum up the key expectations/wish-lists from their anti-fraud programs in 2014. This list is not ordered as per the priority. The need for a single technology platform for enterprise wide fraud detection: Single platform that...