Launching a successful data analytics project requires asking three critical questions, says Maryam Hussain, partner, forensic and integrity services at Ernst & Young in the U.K.
Pharmaceutical companies can leverage data analytics, predictive analytics and artificial intelligence to fight drug diversion fraud, says Charles Washington, senior director, global fraud and asset protection, at Pfizer.
Adam Turteltaub, chief engagement and strategy officer at the Society of Corporate Compliance and Ethics, says compliance teams should create a dashboard of data that will help keep track of actions taken by staff members who are working remotely.
To improve compliance efforts, organizations can turn to a number of technologies, including data analytics. Two experts share their views on making the most of automation and integration tools.
Authorized push payment fraud is expected to continue to surge in 2021. PJ Rohall, co-founder of the website About-Fraud, says behavioral analytics can play an important role in mitigating the risk.
To help prevent fraud, banks must leverage technologies such as behavioral analytics, device biometrics and one-time passcodes, says Nancy Guglielmo, senior vice president at the Bank Policy Institute.
As small businesses apply for loan forgiveness under the Paycheck Protection Program, and banks who made the loans on behalf of the Small Business Association investigate whether any were fraudulently obtained, fraud-detection technologies will play a critical role, says Frank Mckenna of Point Predictive.
According to analysts, adaptive authentication is at the top of the list of authentication investments for banks - and for good reason.
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An identity and access management strategy for a hybrid cloud environment should include single sign-on as well as multifactor authentication, says Andrew Koh, deputy general manager and regional lead-Risk at Habib Bank Ltd. in Singapore.
The financial services industry has unique challenges that often prevent it from achieving its strategic goals. The keys to solving these issues are hidden in machine data - the largest category of big data - which is both untapped and full of potential.
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60% of organizations were exposed to actual or attempted fraud loss last year. As fraud and risk increases year over year, the amount of data being collected increases as well; looking into this data could provide a wealth of knowledge in supporting your payments risk management efforts.
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Card breaches at retailers such as Target and Neiman Marcus will likely be catalysts for improved cyberthreat intelligence and information sharing across the banking and retail sectors, says Mike Braatz of ACI.
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