Online Fraud is Here to Stay: Detection and Prevention Techniques for Financial Institutions
Online fraudsters have been lurking in the cyberspace for years now victimizing busy, and often unmindful, cyber-citizens of all sorts. The realm of these nefarious attackers has been increasing, particularly in the financial sector, where hackers have found ways to leverage their assault on the growing industry of online banking and mobile payment.
As consumer credit transactions shift more and more from card-based to card-not-present venues, financial institutions have had to deal with new types of fraud and related operational headaches. EMV chip cards have improved security for point-of-sale transactions, but telephone, internet and mail order purchases remain vulnerable and are increasing targets of fraud.
Fraud can arise where customers seek to void charges on their statements, whether due to genuine confusion or doubt about a transaction (“friendly fraud”) or with intent to keep the goods or services at the expense of the merchant (chargeback fraud). Banks and credit unions need effective tools to resolve these disputes in a way that limits fraud while maintaining a high level of customer service.
This webcast – sponsored by Verifi, a payment-protection and management services provider – will give an in-depth analysis of the growing problem of card-not-present fraud as it affects banks and financial institutions. The speakers will offer best practices for developing detection and prevention techniques that better safeguard their brands and customers.
- Growth of Online Fraud
- Chargeback Fraud
- Friendly Fraud
- Marketplace Dynamics Driving Operations Costs
- Detection and Prevention Techniques
- Cardholder Dispute Resolution Network (CDRN)
Brian Waller, Regional Head of Issuer Sales
- Meeting (and exceeding) customer expectations in an “online world” – address how CDRN helps quickly resolve disputes
- Online Fraud is Here to Stay: Detection and Prevention Techniques (their original event synopsis was good) – CDRN’s ability to stop shipment of goods, while obtaining credits. Order Insight is also an opportunity to detect or prevent fraud… Question… was this only going to be CDRN?
- Marketplace dynamics that drive operations costs and how to minimize them – recurring billers, digital goods, etc… CDRN’s ability to fit well into these transactions that are lower dollar but drive a lot of volume.
Who Should Attend:
- Financial Crime Compliance Managers
- Online Banking Managers
- IT Security Professionals
- Cybersecurity Officers
- Chief Information Officers
- Chief Information Security Officers
- Fraud Intelligence Officers
- Fraud Executives
- Risk and Compliance Managers
- Banking & Financial Institution Executives
- Banking & Financial Institutions
- Other Related and Interested Professionals
Brian Waller is Regional Head of North America Issuer Sales & Partnerships. Brian and his team are responsible for expanding adoption of Verifi’s services in North America to help issuers effectively collaborate with merchants to resolve both (credit and debit) fraud and non-fraud disputes quickly.
With more than 17 years of experience in the payment, risk technology and financial services industries, Brian has worked with companies to deploy solutions to optimize business operations while mitigating Fraud and Risk trends for his clients.
Prior to Verifi, Brian was most recently Director of Strategic Accounts for risk management solution provider, Early Warning Services, where he was responsible for strategy, business development and account management for many of the largest banks in the United States.
Print and review course materials
Method of Presentation:
NASBA Field of Study:
Information Technology - Technical
NY Category of CLE Credit:
Unlock All The Knowledge and Credit You Need
Leading Provider of Online Continuing Education
It's As Easy as 1, 2, 3
Get Your 1-Year All Access Pass For Only $199
About Verifi, Inc.
Verifi was founded in 2005 to help merchants effectively manage the payments challenges they face every day. Verifi helps merchants safely process payments, combat fraud, prevent and resolve costly chargebacks, as well as increase billings and keep loyal customers. Verifi’s best-in-breed solutions and white-glove support are trusted by a wide range of industries, from emerging companies to the Fortune 500. Headquartered in Los Angeles, California, Verifi process more than $20 billion transactions annually and currently serve more than 13,000 accounts globally.