Analytics are helping governments move to a pre-payment fraud prevention approach, as opposed to the current and ineffective “pay and chase” strategies.
On March 5, 2012, FinCEN issued an ANPRM to solicit public comment on strengthening and clarifying customer due diligence (CDD) requirements. In particular, FinCEN is considering an explicit CDD that requires financial institutions to identify beneficial ownership of their accounts. Read what experts are saying about the benefits and draw backs are to this new requirement.
Every day, fraudsters and cyber criminals become more sophisticated and better organized. How can you protect your organization and your customers from this threat? Patricia Spinner says convergence of fraud and security issues reduces vulnerabilities. She proposes a solution-driven, integrated approach that detect threats while there is still time to react.
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