How to Stop the Real-Time Payments "Scam-demic" From Hurting You and Your Customers

Businesses and customers have adopted Real-time Payment (RTP) at a rapid rate, due to its efficiency and simplicity. Unfortunately, RTP has also opened the door for a new wave of sophisticated scams and fraud that threaten to derail more widespread use. Financial institutions must account for the risks imposed by those RTP scams, which include reputational damage and the loss of customers, not to mention the cost of managing fraud cases and reimbursing victims. The good news is that banks, credit unions, and other lenders have an opportunity to take a proactive approach to fraud and scam detection and prevention.

In this on-demand webinar originally hosted by the Association of Certified Financial Crimes Specialists (ACFCS), our FICO and Teradata panelists share some recent research on RTP scams and fraud, as well as techniques to continually adapt and improve your firm’s systems in order to minimize the risks. We’ll also share examples of organizations that have had success with an approach. Our objective is for you to learn how to effectively manage fraud/scam protection without sacrificing the customer experience.

• How a financial institution can help protect customers against scams and fraud
• The components of an effective multi-layered approach to scam/fraud detection and prevention
• The prevalence of scams and why you need to treat them differently from fraud