Aug 30 2024 31 mins
This episode of the Fraud Technology Podcast discusses the evolving approach to fraud detection and prevention in the financial sector. Traditionally viewed as a back-office function, fraud management has gained prominence due to rising consumer scams and increasing financial losses. The conversation highlights the shift towards proactive measures, drawing parallels with Anti-Money Laundering (AML) practices. Our guest, Nisan Bangiev shares insights from their experience in implementing fraud monitoring systems, emphasizing the importance of model validation, risk assessments, and leveraging advanced technologies like AI. Additionally, they discuss the persistent issue of check fraud, noting its surprising resurgence despite a decline in check usage.