New Whitepaper: BCG | Quantexa - How Banks Can Get Ahead on Fraud Risk Management

Sheryl_Wharff

How Banks Can Get Ahead on Fraud Risk Management – authored by Boston Consulting Group (BCG)'s Hanjo Seibert , Dr. Lue Wu, Dr. Bernhard Gehra, and Quantexa's Ross Aubrey.

Today fraud challenges are exacerbated by the changing commercial landscape. To combat fraud, banks have invested heavily in tools and resources. However, these efforts have been only partially successful. In fact, fraud losses are rising—in the US, for example, losses from internet scams rose from $2.7 billion in 2018 to $10.3 billion in 20222—while in the UK, financial fraud has been characterized as a threat to national security.

In the face of these dynamics, banks need to take actions now to prevent financial losses and protect their customers. But how should banks best respond? Check out this informative whitepaper to learn more.