Banks must improve fraud detection, says George Tubin, a senior research director for TowerGroup. Tubin says most financial institutions are not investing in security and fraud-prevention tools. The biggest threats are going to continue to be the cyberthreats and those types of techniques that get around current authentication procedures, says Tubin. The future demands cross-channel, neural-net fraud detection and adaptive analytics, he says. In 2011, that will have to change, Tubin adds: “We are moving toward much more electronic and automated payment processes””]
Source: https://www.cuinfosecurity.com/banks-must-improve-fraud-detection-a-3229