ROMANIA Increase in Fraud YoY

A Continued Challenge of Increasing Losses

As previously reported, our local partners in Romania (and other central European/Baltic states) were quick to react to their escalating threat and have now reached their strategic vision of true enterprise fraud prevention. This creates a new standard for fraud prevention within these entities and has already begun to force a threat migration within the market to the less robust control frameworks.

However, Romania has reported the fifth largest increase in the report, which clearly indicates that more needs to be done by the remaining banks to follow suit of the leaders. FICO continues to work with our partners in the region to ensure a consistent and effective approach is taken to fraud management, to prevent this ever-increasing trend for all regional banks. Consistency and collaboration are the keys to turning the tide on all aspects of fraud as facilitated by the FICO Falcon Intelligence Network.