Download Bank fraud : using technology to combat losses by Revathi Subramanian PDF

By Revathi Subramanian

Learn how advances in know-how may also help cut back financial institution fraud

Fraud prevention experts are grappling with ever-mounting amounts of knowledge, yet in present day unstable advertisement surroundings, being attentive to that information is extra very important than ever. Bank Fraud offers a frank dialogue of the attitudes, concepts, and—most importantly—the expertise that experts might want to strive against fraud.

Fraudulent task could have elevated through the years, yet so has the sphere of knowledge technological know-how and the consequences that may be completed by means of utilising the ideal rules, an important instrument at the present time for monetary associations to guard themselves and their clients. This source is helping execs within the monetary prone utilize information intelligence and uncovers the appropriate ways to strengthening defenses opposed to fraudulent habit. This in-depth remedy of the subject starts off with a short heritage of fraud detection in banking and definitions of keywords, then discusses the advantages of know-how, info sharing, and research, in addition to different in-depth info, including:

  • The demanding situations of fraud detection in a monetary providers environment
  • The use of information, together with powerful how one can degree losses consistent with account and ROI through product/initiative
  • The Ten Commandments for tackling fraud and how you can construct an efficient version for fraud management

Bank Fraud deals a compelling narrative that finally urges defense and fraud prevention execs to utilize the information they've got so painstakingly accumulated. Such pros will not allow their most crucial highbrow asset—data—go to waste. This e-book indicates you simply how you can leverage information and the main up to date instruments, applied sciences, and strategies to thwart fraud at each turn.

Show description

Read Online or Download Bank fraud : using technology to combat losses PDF

Similar banks & banking books

Fixed Income Markets and Their Derivatives

The 3e of this well-respected textbook maintains the culture of delivering transparent and concise factors for mounted source of revenue securities, pricing, and markets. The publication suits good with mounted source of revenue securities classes. The book's association emphasizes associations within the first half, analytics within the moment, chosen segments of mounted source of revenue markets within the 3rd, and stuck source of revenue derivatives within the fourth.

Economic Policy and Performance in Industrial Democracies: Party Governments, Central Banks and the Fiscal-Monetary Policy Mix (Routledge Frontiers of Political Economy)

This e-book is the 1st systematic research of ways the interdependence of financial and financial regulations and the interplay of occasion governments and important banks have an effect on the fiscal-policy combine in eighteen commercial democracies in North the US, Western Europe, Japan and Oceania. Sakamoto argues that primary banks’ impact on monetary coverage is way extra broad than has been conventionally believed.

The Selected Works of George J. Benston, Volume 1: Banking and Financial Services

George J. Benston, professor of Finance, Accounting, and Economics at Emory University's Goizueta company institution, died by surprise in January 2008. He was once an impassioned suggest for company integrity and a different student; his study pursuits have been as extensive as these of any contemporary academician. His colleagues have chosen and arranged his most crucial papers into volumes.

Toward environmentally sustainable development in Sub-Saharan Africa: a World Bank agenda

E-book by means of international financial institution employees

Additional resources for Bank fraud : using technology to combat losses

Sample text

Unlike the monotonous task of rolling the boulder up, fraud management is a constantly changing and an evolving challenge. One can never rest on one’s laurels when it comes to fraud management. Change and continual improvement are the only constant features of this quest to control fraud. For the same reason, it is important not to let the fraud management system stagnate and not to use technology that is over a decade old. The fraud management system also needs to be changing and adapting to the nature of fraud by using the most sophisticated techniques available.

According to Sienkeiwicz, both American Express and Diners Club were closedloop systems, made up of the consumer, the merchant, and the issuer of the card. In a closed-loop system, the issuer authorizes as well as handles all aspects of the transaction and settles directly with the consumer and the merchant. In 1959, the ability to maintain a revolving balance was available to customers. According to the article “The History of Credit Cards” by Ben Woolsey and Emily Starbuck Gerson,6 the first true general-purpose credit cards were issued in 1966 by Bank of America.

Once the card numbers were available, it was easy to find goods to buy and convert the goods bought to dollars. When this started happening on a massive scale, credit card issuers started demanding that merchants be held more accountable. If there was no proper verification of the cardholder’s identity that was done at purchase time, the merchants should be responsible. Right? For a period of time, these fraudulent purchases were in fact the merchants’ responsibility. As merchants were setting up ways to sell their goods via the Internet, there was significant hesitation on the part of merchants to take on all of the liability.

Download PDF sample

Rated 4.83 of 5 – based on 25 votes