Monday, June 25, 2012

Recent Survey Reveals Banks Investing More in Emerging Technologies

2012's Top Anti-Fraud Tech Investments

Banks and credit unions say investments in enhanced fraud detection, monitoring systems and customer and member education top their lists for fighting fraud this year.

That's according to BankInfoSecurity's second annual Faces of Fraud survey. A full report on the survey is now available.

More than half of the more than 200 financial institutions that participated in this year's survey say they have increased funding for new fraud technology and personnel.

Top Anti-Fraud Investments

In addition to enhanced detection, monitoring and education, other top anti-fraud investments for banks and credit unions this year include:
  • Improved out-of-band verification;
  • Enhanced controls over account activities;
  • More internal and external audits;
  • Improved vendor management practices;
  • More anti-money-laundering tools;
  • Enhanced dual authorization through different access devices;
  • Improved tracking of high-risk customers and members.
Refer here to download the report.

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