Using Math to Fight Fraud

0 comment(s) Fraudsters today are more sophisticated than ever. The schemes have moved from simple fraud targeting one channel to more complex, cross channel schemes. To make matters worse, the schemes are not launched by individuals operating alone, they are being perpetrated by groups of sophisticated professionals intent on inflicting the maximum amount of damages on your institution. The result is that institutions now more than ever need advanced defenses capable of evolving quickly to meet new schemes as well as zeroing in on strange behavior across all access channels and payment mechanisms. Enter complex mathematics. The right algorithms and smart application of a variety of techniques can make a huge difference in preventing fraud or being a victim.