First-party fraud will be responsible for an estimated $28.6 billion in credit losses for financial institutions around the globe this year. Banks can significantly reduce their levels of bad debt and collections expenses by targeting first party fraud. Advanced network analytics with real-time screening is the key to early detection and prevention of risk threats before they result in large losses.Download this white paper to explore: The anatomy of a first-party defraud scheme; The challenges involved in uncovering fraud;Emerging best practices for combating fraud.”]
Source: https://www.bankinfosecurity.com/whitepapers/holistic-approach-to-first-party-fraud-w-2313