Session 1: The Role of Data Science in Fraud Detection
Presentation Type
Invited
Track
Finance/Insurance Application
Abstract
The impact of fraud losses on overall profitability has been growing for many financial institutions in recent years. As technology continues to evolve and digital transactions increase, this new environment creates opportunities for fraudsters to deploy new tactics to commit fraud. The global pandemic certainly accelerated movement to digital transactions, including an increase in consumers interacting with financial institutions in a contactless manner. In this session, we’ll review fraud trends during the pandemic and where they are headed as the economy recovers and consumers begin engaging in the consumer credit market again. These will be valuable insights to understand how to best defend against emerging fraud tactics which will translate to better portfolio growth and profitability.
Start Date
2-8-2022 9:50 AM
End Date
2-8-2022 10:50 AM
Session 1: The Role of Data Science in Fraud Detection
Pasque 255
The impact of fraud losses on overall profitability has been growing for many financial institutions in recent years. As technology continues to evolve and digital transactions increase, this new environment creates opportunities for fraudsters to deploy new tactics to commit fraud. The global pandemic certainly accelerated movement to digital transactions, including an increase in consumers interacting with financial institutions in a contactless manner. In this session, we’ll review fraud trends during the pandemic and where they are headed as the economy recovers and consumers begin engaging in the consumer credit market again. These will be valuable insights to understand how to best defend against emerging fraud tactics which will translate to better portfolio growth and profitability.