A lot has been made concerning the advances in doc automation that has led to efficiencies in lots of areas of fintech. However the fraudsters even have entry to this similar expertise.
It’s automation and the size it makes attainable that units serial fraud aside. It’s outlined as industrial (re)manufacturing and distribution of fraudulent paperwork by way of automation practices.
Criminals can leverage a reliable doc however create big numbers of illegitimate copies with faux identities. These sorts of assaults may be prevented by solely essentially the most subtle fraud detection techniques.
A brand new whitepaper from Fintech Nexus and Resistant.ai sheds mild on this advanced subject. Listed below are a number of the dialogue factors:
- The challenges that serial fraud creates for monetary establishments and actionable steps that these organizations can take to safeguard their techniques
- Doc codecs accepted by monetary establishments through which serial fraud happens world wide
- The 2 essential forms of serial fraud perpetrators in addition to the digital applied sciences and doc sourcing strategies that these criminals usually make use of
- How Resistant AI makes use of doc fraud detection strategies to cease serial fraud
Fraud detection was one of many hottest matters of 2023 and it’s prone to be the identical in 2024. We’re in a brand new age of fraud. What began as undetectable fraud by means of digitization now sees industrial-scale replica and distribution by way of automation in serial fraud. Criminals exploit distant operations underneath faux identities, evading in-person dangers.
Find out how the digital shift of documentation brings alternatives for fast buyer onboarding but additionally unprecedented dangers of onboarding fraud.
You may obtain this whitepaper right here.