The ability to identify the risk of a scam payment in an exceptionally small timeframe is a challenge that has many fraud executives scratching their heads. How can such a challenging and prevalent fraud typology truly be dealt with effectively?
This report, in partnership with Aite-Novarica Group, explores the vulnerabilities that make scams such an attractive method of attack for fraudsters and a significant challenge for fraud executives to tackle. It also shares design principles that fraud executives can apply to effectively approach the problem head-on. And, how a trailblazing partnership between NatWest and Featurespace pioneered a bespoke transaction monitoring framework for authorized and unauthorized payment fraud attacks that improved scam detection rate by 135%.
Download this report to learn:
- The main vulnerabilities that make scams irresistible to fraudsters and why they can be challenging for financial institutions to control
- The optimal design objectives fraud executives can apply to overcome these challenges and achieve game-changing scam detection results on a scalable infrastructure for possible future controls, such as monitoring inbound payments
- How a partnership between NatWest and Featurespace improved scam detection rates by 135% and reduced false positives for scams by 75% – blazing new territory on the fraud and scam detection frontier
- Key findings
- Overcoming the challenges of fraud detection
- Trailblazing new territory on the scams frontier – NatWest embarks on a quest for innovative scam detection
- The partnership between NatWest and Featurespace
- NatWest’s scam and fraud detection results: realizing success
- Conclusion: your potential next steps
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