Bank Fraud

Bank Fraud : Using Technology to Combat Losses


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Learn how advances in technology can help curb bank fraud Fraud prevention specialists are grappling with ever-mounting quantities of data, but in today's volatile commercial environment, paying attention to that data is more important than ever. Bank Fraud provides a frank discussion of the attitudes, strategies, and most importantly the technology that specialists will need to combat fraud. Fraudulent activity may have increased over the years, but so has the field of data science and the results that can be achieved by applying the right principles, a necessary tool today for financial institutions to protect themselves and their clientele. This resource helps professionals in the financial services industry make the most of data intelligence and uncovers the applicable methods to strengthening defenses against fraudulent behavior. This in-depth treatment of the topic begins with a brief history of fraud detection in banking and definitions of key terms, then discusses the benefits of technology, data sharing, and analysis, along with other in-depth information, including: * The challenges of fraud detection in a financial services environment * The use of statistics, including effective ways to measure losses per account and ROI by product/initiative * The Ten Commandments for tackling fraud and ways to build an effective model for fraud management Bank Fraud offers a compelling narrative that ultimately urges security and fraud prevention professionals to make the most of the data they have so painstakingly gathered. Such professionals shouldn't let their most important intellectual asset data go to waste. This book shows you just how to leverage data and the most up-to-date tools, technologies, and methods to thwart fraud at every turn.

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  • Hardback | 192 pages
  • 162.56 x 231.14 x 25.4mm | 408.23g
  • John Wiley and Sons Ltd
  • John Wiley & Sons Ltd
  • ChichesterUnited Kingdom
  • English
  • black & white illustrations, black & white tables, figures, graphs
  • 0470494395
  • 9780470494394
  • 666,395

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Review quote

you come away from the book feeling enriched, and enthused (Professional Security, July 2014)

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Back cover copy

Using the right technology to battle widespread financial fraud Data intelligence has evolved over the years, resulting in highly sophisticated scoring processes. "Bank Fraud: Using Technology to Combat Losses" teaches loss prevention managers, fraud prevention professionals, and corporate security personnel how to effectively select and use the right technology to combat fraudulent activities in their business. This book covers in detail all of the ingredients necessary to build and maintain a healthy fraud management environment, including: A discussion of the history of fraud detection and prevention practices The challenges of fraud detection in a financial services environment Corporate risk exposure and setting up a solid data environment A discussion of exposure considerations and how to avoid losses Statistical analysis and evaluating trends over time Data-driven risk management goes back decades, but many professionals simply miscalculated their strategies or failed to plan them adequately. "Bank Fraud" examines the current technology to teach professionals how to properly plan, implement, and evaluate their loss prevention systems and find modern solutions for age-old fraudulent activity. It is a new take on finding the right data environment for the business and applying it correctly to ensure the best security results over time.

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Flap copy

BANK FRAUD Using Technology to Combat Losses Great strides in data intelligence have been made over the years as the fraud detection and prevention industry has matured. With that comes a need for technology that can handle all of this data, as well as people who know how to correctly use it. As part of the Wiley and SAS Business Series, "Bank Fraud: Using Technology to Combat Losses" dives deep into fraud detection and prevention strategies from a technological perspective. The book is aimed at helping users define their data and analysis environments correctly from the beginning, so that the best possible results can be achieved by their fraud management systems. "Bank Fraud" is not meant to convert the reader into a data scientist, but rather aims to convert the reader into a power user of data-driven systems while presenting some key aspects of a good fraud solution. It covers the history of fraud detection and prevention along with practical tools for understanding risk exposure, key terms, statistics, and trends. It also discusses the special vulnerability banks have when it comes to fraud and the historical challenges in locating perpetrators. "Bank Fraud" provides guidance for loss prevention professionals to assess which technology is appropriate for battling bank fraud and how to properly implement it. Its advice is timely and relevant, as combating fraud is listed as a top priority for almost every bank in existence today. Readers get a look at fraud prevention from an expert's perspective and learn to use technology as a harness for data intelligence - effectively stopping fraudulent activity in its tracks.

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About Revathi Subramanian

Revathi Subramanian is Senior Vice President, Data Science at CA Technologies, which helps Fortune 1000 companies manage and secure complex IT environments to support agile business services. She is the founding member of a team of high caliber data scientists that are uncovering business value and operational intelligence from the chaos of Big Data in areas like eCommerce, application performance management, infrastructure management, service virtualization, and project management. Before joining CA, Revathi was the co-founder of the SAS Advanced Analytic Solutions Division in 2002. She led the development of a new enterprise real-time fraud decisioning platform utilizing advanced analytics. Revathi has a Master s degree in Statistics from The Ohio State University and a Bachelor s degree in Mathematics from Ethiraj Collge, Chennai, India.

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