Just three short weeks ago during FICO World 2018, I had the opportunity to chair a panel of esteemed fraud practitioners to discuss Global Fraud Trends & Risk Control Imperatives. One of the questions I asked was: What’s behind the rise in application fraud we see worldwide?
Check out this short video where panelist Matt Powell, Global Head of Consumer Fraud at Citibank, answers this very question. As a result of the rise in fraud due to EMV adoption in the US, like many lenders, Citi is exploring new authentication protocols and ensuring these new advances are “wrapped around using better analytics or machine learning”.
Want to learn more? Check out my application fraud blog series including this post on Preventing Application Fraud with Machine Learning and AI and our recent webinar on Layered Defense in the Fight Against Application Fraud.