Finance in Focus: Fighting fraud
Fraud and cyber crime cast a looming shadow over the financial sector as cyber criminals adopt ever more innovative tactics and technologies for exploiting weaknesses in electronic banking and payments systems. To overcome the challenge that faces them, banks and financial institutions must constantly pursue best practices and solutions for safeguarding their clients by safeguarding their own systems and data.
According to a financial fraud survey conducted by the IBM Institute for Business Value (IBV), cybersecurity and fraud predominate in the agendas of 80 percent of institutions. Even so, only 56 percent of 500 financial sector executives surveyed described their own organizations as being in reasonable control of fraud threats.
In this podcast, you’ll learn the background of the IBV survey and review its key findings, uncovering some of the compelling insights available in the complete study.
Susan Visser, a social strategist for the finance services sector, works in IBM performance marketing and analytics.
David Dixon, who brings expertise in the counter fraud and financial crimes areas, has worked in risk management and counter fraud in the financial services sector for more than 19 years. Before joining IBM, David served as the director of the Distribution Risk Group for BMO Financial Group, the director of risk management at BearingPoint and the managing director of global solutions for Norkom Technologies.
Wilson Davis is an associate partner in strategy and analytics for fraud with IBM Global Business Services. He specializes in financial and operational data analytics, counter fraud and anti–money laundering, straight-through processing, IT department transformations and game-changing improvements in business processes and application systems for the financial services industry. Wilson, who holds an MBA from the Tuck School of Business at Dartmouth, has 10 years of experience as a Fortune 500 IT executive and 15 years of experience as a partner-level consultant.
Learn more about how IBM can help you fight fraud by exploring a wide selection of blogs, infographics and videos:
- Infographic: Winning the face-off against fraud
- Five ways fraud detection analytics improve data protection
- Take an analytic approach to fighting fraud
- SlideShare: Facing off against fraud
- Effective fraud protection relies on deep analytics
- Fraud analytics power counter fraud management efforts
- High-tech robbery: The new intersection of cyber crime and financial fraud
- Better the devil you know: How AML technologies are giving banks insight into cybercrime
- Infographic: IBM Counter Financial Crimes Management: Multi-channel banking fraud
The advanced analytics offered by the IBM Counter Fraud Management solution can help organizations spot financial crime patterns early, allowing them to adapt quickly while implementing countermeasures to protect against financial fraud. Learn more about IBM Fraud Management for Banking.