How to Defeat the Many Faces of Fraud with AI and Data
October 21, 2020 at 2 PM ET
Check fraud and other types of fraud pose an ever-present threat. Check fraud accounts for 47% of deposit account fraud losses according to a recent ABA Banking Journal 2020 article with debit card, online banking, wire originations, check deposits and P2P transactions listed as the top five fraud threats that banks face near-term. Over 60% of the check fraud attempts are focused on Counterfeit and Forged items. Until processes change, fraudsters will continue to thrive. The traditional review process is still very much a manual operation. With the increased volume of fraudulent attempts, best practices suggest that the implementation of technology and data is imperative.
With AI and data, an FI can catch more fraud, review more items and increase workflow productivity – all leading to less exposure. Join us as we discuss the current state of check fraud and explore real use cases / best practices that address the following questions:
- What do the numbers reveal?
- How can AI help you review more items and review more potential points of compromise?
- How can data and technology help you increase workflow efficiency and improve fraud detection results while you do more reviews with less resources?
- Ati Azemoun, Vice President of Business Development, Parascript
- Ben Knieff, Founder and Principal Consultant, Outside Look
- John Ravita, Director of Sales and Marketing , SQN Banking Systems
- John Leekley, Founder & CEO , RemoteDepositCapture.com