Fraud Detection and Prevention in the Banking Industry


Fraud detection and prevention in the banking industry is a complex, but necessary operation. Operations in many jurisdictions with different compliance and due diligence requirements; a variety of products and services including loans, investments, mortgages, credit cards and day-to-day banking operations; and customer and transaction data stored in various IT and core systems are just some of the difficulties faced by financial institutions.


While some institutions have implemented fraud prevention solutions, many fail to deliver on the promise of reducing fraud-related losses due to the large number of false positives, high IT costs, undetected fraud schemes, and the inability to detect various forms fraud in real-time or keep up with evolving schemes.


In this webinar, the team at Alessa will review how to overcome some of the challenges associated with fraud detection and prevention in the banking industry. At the end of the webinar, participants will have learned:


  • The various forms of fraud faced by financial institutions
  • How to use existing business and IT infrastructure for fraud detection
  • The role of  anomaly detection and forensic analysis to identify suspicious activities
  • How to regularly review and tune your fraud prevention program to reduce false positives and adapt to changing fraud schemes


Contact our specialists today to see how our AML compliance software solutions can help you meet compliance needs and detect and prevent against fraud.


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Get tips on how to overcome some of the challenges associated with fraud detection and prevention in the banking industry.

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