Inside the Fraud Prevention Machine in Big Banks

The human side of fraud

In this episode, Matt Brady interviews Ben Herut to explore the complex world of chargebacks, fraud prevention, and the future of payment security. They discuss the origins of chargebacks, the rise of friendly fraud, and how emerging technologies like AI and real-time data sharing could revolutionise the industry. Key Topics * History and purpose of chargebacks * Rise of friendly fraud and online shopping * Impact of AI and real-time data sharing * Challenges in fraud detection and prevention * Future trends in payment security Chapters 00:00 Understanding Chargebacks: Origins and Purpose 03:02 The Rise of Friendly Fraud 05:53 The Role of Issuers and Merchants in Chargebacks 08:38 The Impact of Technology on Chargebacks 11:29 Navigating the Chargeback Landscape: Challenges and Solutions 14:28 The Future of Chargebacks: Agents and AI 16:55 The Complexity of Modern Transactions 18:11 Data Sharing and Decision Making in Chargebacks 20:58 The Balance of Speed and Security in Payments 22:43 The Evolution of Chargeback Solutions 24:08 Looking Ahead: Opportunities and Risks in Chargebacks Keywords chargebacks, fraud prevention, online payments, friendly fraud, AI, payment security, fintech, fraud detection, banking technology #Fintech #FraudPrevention #OnlinePayments #Chargebacks #CyberSecurity

Fighting fraud in the Agentic Era

Exploring the impact of agentic AI on fraud detection and cybersecurity, with insights from Shimon Modi on evolving threats, trust management, and future strategies. Key Topics • Impact of agentic AI on fraud and cybersecurity • Shift from bot blocking to trust management • Behavioural biometrics and intent assessment • Economic implications of AI-driven fraud • Legal and liability issues in agentic AI Chapters 00:00 Introduction to the Agentic Era and Fraud 02:26 The Shift from Bot Management to Agentic Trust Management 06:35 Reframing the Defence Playbook 09:07 Understanding Intent and Signals in Agentic Behaviour 11:24 The Economics of Agentic Fraud 13:56 Navigating Agent-to-Agent Interactions 16:18 The Future of Fraud in an Agentic World 22:16 Liability and Accountability in the Age of Agents #Cybersecurity #agenticai #ai #frauddetection #cyberdefense

Is Identity Verification now redundant?

Exploring the evolving landscape of identity verification, its challenges, and future directions with expert David Maimon. Understand how digital identity is shifting from snapshot checks to comprehensive, historical signals to combat fraud effectively. * * * * * #Cybersecurity #IdentityTheft #FraudPrevention #DigitalIdentity #AI

Uncovering CX Fraud

In this episode, Alex Shamir discusses the rising issue of CX fraud, how it impacts businesses, and innovative solutions to combat it. Discover how fraud within customer support channels is often overlooked and learn strategies to protect your company from costly abuse. Key Topics • CX fraud within chat and call centres • Impact of fraud on customer experience and costs • Role of AI and automation in detecting and preventing fraud Chapters 00:00 Introduction to CX Fraud 03:10 Understanding the Scope of CX Fraud 05:47 The Cost of CX Fraud to Companies 08:37 The Role of Social Media in Fraud 11:26 Fraud Trends Across Industries 14:21 Solutions for Mitigating CX Fraud 17:11 The Role of AI in Customer Success 19:52 The Future of CX Fraud and Customer Success Keywords CX fraud, customer success, fraud detection, post-purchase fraud, AI in fraud prevention, customer support, returns fraud, digital deception, fraud signals, AI bots #CXFraud #CustomerSuccess #FraudPrevention #AIFraud #ReturnsFraud

Fraud Prevention has to be AI-driven

Explore how AI is transforming fraud prevention in financial institutions, shifting from rule-based systems to real-time, AI-driven solutions. Yinglian Xie, CEO of DataVisor, discusses the evolution, challenges, and future of AI in combating sophisticated fraud tactics. Key Topics • Shift from batch to AI-driven fraud detection • Role of unsupervised machine learning in identifying new fraud patterns • Challenges in adopting AI for financial institutions • Importance of governance and transparency in AI systems • Future trends in AI and fraud prevention Chapters 00:00 Introduction to AI in Fraud Prevention 03:08 The Shift from Batch Processing to Real-Time AI 06:15 Challenges in Adopting AI for Fraud Prevention 09:03 The Role of Governance and Regulation 12:09 Customer-Centric Approaches in Fraud Prevention 15:08 Leveraging AI for Proactive Fraud Detection 18:10 Unsupervised Learning in Fraud Detection 21:00 Building Trust in AI Decision-Making 24:06 The Future of Fraud Prevention Technology #ai #fraudprevention #cybersecurity #aigovernance #financialcrime