In fraud prevention, the most consequential moment is when a decision is made. Every flagged transaction, suspicious login or anomalous pattern triggers a choice that must balance speed, accuracy, customer trust and regulatory responsibility. Act too aggressively and legitimate customers feel friction. Act too cautiously and fraud slips through. In
The rise of AI-powered fraud has supercharged criminals’ abilities to exploit systemic weaknesses and fool the most careful among us. Fortunately, as indicated by recent research from SAS and Coleman Parkes, the next few years will see major AI investments by government fraud fighters, giving hope that they will turn
Across government programs worldwide, the stakes for managing fraud, waste and abuse (FWA) have never been higher. Every dollar lost to fraud is a dollar that could have been used to fund public health, education, or infrastructure. In a previous blog, I discussed the movement toward increasing public sector productivity
Hackers have a major milestone to celebrate this year as the phishing attack turns 30 years old. Phishing attacks can be traced back to the 90s, coinciding with the popularity of America Online (AOL). For those too young to remember, AOL was an early internet service provider that revolutionized the
Fraud and financial scams are on the rise. According to the FBI's Internet Crime Complaint Center's annual report, scammers stole a record $16.6 billion in 2024, a 33% increase from 2023. This problem affects everyone. The SAS Faces of Fraud Study revealed that 70% of consumers have fallen victim to
Banks face increasing vulnerabilities, including fraud, cyberattacks, regulatory pressures and rapidly evolving customer behaviors. To remain secure and resilient, financial institutions must do more than simply adopt new technologies – they must build intelligent, adaptive systems. This is where a data and AI platform becomes a critical engine – not
As we peer into 2025 looking for signs of what’s to come, one thing is certain – the global banking industry will continue its evolution. Historically, banks have responded to change more slowly; the industry’s risk-averse culture drives a calculated and measured approach. However, the volatility, uncertainty, and challenges of
In financial services, the onboarding journey takes on heightened significance. It’s not just about welcoming new customers—it’s about safeguarding their information, validating identity, mitigating risk, ensuring regulatory compliance, and making a great first impression. To achieve these goals, modernizing the decisioning process is crucial. In fact, decisioning lies at the
Careers in risk management can be rewarding. The disciplines are key to a broad range of industries. Risk management teases the analytical side of the brain and there is a clear line of contribution between the work and the organization's performance. Careers in risk management are also shrouded in mystery
2023 delivered a raft of notable bank failures, the largest since the 2008 financial crisis. Silicon Valley Bank and others succumbed to collapse, triggering widespread reverberations and heightened market uncertainty. We also saw a tsunami of AI innovation, expanding fraud and financial crimes, workforce transformation and climate risk. And let’s
