Stopping fraudsters at the front door is a priority, and layered controls are essential to stopping fraud attacks rapidly, agilely, and efficiently. Identifying fraud early requires enterprise-level vigilance and context around an individual’s behavior. Technology can facilitate bilateral sharing of intelligence, such that what you learn at point of application can inform your post-book control strategies as you manage your member base, detect transactional fraud, or prioritize collections on your bad debt book.
Similarly, what is learned downstream, such as information about compromised identities and charge-off information, can be invaluable in upstream decisions such as application fraud via a feedback loop. However, where in your fraud controls should you be considering post-book controls? And where can you work better with your partners in risk to mitigate losses?
In this clip, I share some insights into ongoing customer monitoring for identity-based fraud.
Want to learn more? Check out the full webinar “Layered Defenses in the Fight Against Application Fraud”.