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An Avalanche of Alerts Due to Dramatic Increase in Fraud; Four Steps to Reduce Alert Volume

As the cost of cybercrime escalates across all industries, banks are suffering the most. Banks are paying particular attention to payment fraud through online and mobile channels. Wire transfer fraud has more than doubled year over year and 73% of organizations experienced payments fraud in 2015. This rise in fraud translates into an avalanche of fraud alerts with the potential to inundate and overwhelm banks and their fraud investigators. Instead of focusing on reacting to alerts, banks should place alerts in context and manage them proactively.”]

Source: https://www.bankinfosecurity.com/whitepapers/avalanche-alerts-due-to-dramatic-increase-in-fraud-four-steps-to-w-2825

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