Title

Session 1: The Role of Data Science in Fraud Detection

Presenter Information/ Coauthors Information

Michael Lim, TransUnion

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

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Feb 8th, 9:50 AM Feb 8th, 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.