As the cost of cybercrime escalates across all industries, banks are suffering the most. Banks are paying particular attention to payment fraud through online and mobile channels - wire transfer fraud has more than doubled year over year and 73% of organizations experienced payments fraud in 2015. (AFP 2016 Payment Fraud Study)
This rise in fraud translates into an avalanche of fraud alerts with the potential to inundate and overwhelm banks and their fraud investigators. Instead of focusing on reacting to alerts, banks should place alerts in context and manage them proactively.
Read this white paper to discover:
- Why payment fraud alerts are increasing
- How you can reduce alerts to better protect your institution
- Four steps to reducing alert volume