With the rise in digital activities, fraudsters around the world are on the lookout for exploiting opportunities to target vulnerable people and institutions. The environment created by the COVID-19 has created a perfect storm for fraud risk.
The “fraud triangle,” a framework commonly used to explain the motivation behind committing fraud, outlines three components that contribute to increasing the risk of fraud: opportunity, incentive and rationalization.
In this uncharted climate, it is difficult to anticipate the exact nature and the extent of impending fraudulent threats and business challenges. But the ability to rapidly identify new threats, implement adaptive fraud prevention controls and take corrective action will be critical, for business operational continuity.
Fortunately, today with the advances in AI, it is possible for organizations to improve the prediction accuracy of identifying frauds. To explore how AI can be used to its full potential to combat financial frauds, Express Computer has partnered with IBM to host a focused webinar on this important topic. At this webinar, you will discover how you can leverage AI to quickly identify emerging payment fraud threats and test your hypothesis of emerging threats by running simulations on live data.
Attend this webinar to:
- Learn how to build prediction fraud models on the fly with little or no technology expertise
- Explore the key use cases where AI can be used for identifying financial crimes quickly and stopping frauds
- Learn how to use machine learning to create new rules that can be used to quickly test and integrate into existing fraud detection models
- Understand how AI can be used to quickly scale your fraud detection approach cost effectively
