Cross channel scams are the most pervasive form of frauds perpetrated against bank customers. This whitepaper takes the help of use cases to highlight the importance of cross-channel systems.
Author: Clari5
Combating Cross channel Fraud
Banks throughout the world are recognizing that fraud has become sophisticated and more and more pervasive. They need to move away from silo based systems to take into account channel-specific fraud management techniques that have the ability to share information with other channels for accurate multi-channel fraud detection.
Starfish Approach to Fraud Management is hurting Banks. #StarfishBanks
Starfish like ideology of the banks handling risks is no longer acceptable. Starfish Banks are no longer thought as the most important and profitable economic factors: they are more seen as potential danger to stability of the organization. As banking regulation is developing and in future it will be in a manner similar to other industries such as the chemicals industry.
Real-time, Cross-channel Transaction Monitoring and Fraud Management for India’s Top 5 Bank
Increased sophistication in the banking system has simultaneously increased sophistication in banking frauds. Banks today face a growing risk of fraud incidents via phishing and identity theft, ATM frauds, payment card fraud, cross channel frauds, malware & Trojan attacks and SIM swap. Clari5 from CustomerXPs has helped one of the largest private sector banks in India overcome these challenges and detect/manage frauds and money laundering on a unified platform, a first in the country.
Foreign Account Tax Compliance Act
Foreign Account Tax Compliance Act (FATCA) introduced by US legislation. It has been debated for and against since 2009. It aims at targeting U.S taxpayers against federal tax avoidance by investing in foreign assets or in foreign bank accounts.
Targeting the Crevices: Effective Financial Crime Prevention
Banks grapple with the increasingly sophisticated means and methods of fraudsters who always seem a step ahead of bank’s fraud prevention apparatus.
Anti-Fraud and Anti-Money Laundering in Banking- The Common Denominators
Bank fraud and money laundering are on the rise all across the world. Some top banking firms have lost over several billion dollars last year, owing to high-profile money laundering cases.
Customer Retention & Revenue Maximization for the Modern Banking Corporation
How technology can be leveraged to drive customer retention programs.
Top 10 Priorities of Anti-Fraud Banking Executives
A succinct summary of key wish-lists/expectations from banking executives’ different anti-fraud programs in 2019.
Fraud: How many categories of fraud is your bank aware of?
With fraud rampant across global economic borders, it is challenging to keep track of the breed of fraud running in the banking ecosystem. Fraud exists in wide spectrums so, is your bank capable of battling it? This whitepaper highlights the myriad of fraud prevalent globally, along with methods that will equip your bank to scale down and completely eradicate each type of fraud.