Fraud Risk Management

Banks and regulators regard fraud as one of the key threats for financial institutions, potentially impacting the bank’s financial stability and reputation as well as customer trust. As fraud tactics become more sophisticated, banks must adapt their fraud risk frameworks and controls to stay ahead. A comprehensive fraud strategy is critical to safeguard assets, ensure compliance and maintain a strong reputation.

Are you asking yourself:

Has the bank implemented a comprehensive fraud risk framework reflecting its risk appetite across the different fraud threats?
Is our surveillance program against internal fraud as well as external payment fraud effective?
Is the bank leveraging the right technology to detect and respond to evolving fraud tactics?
Does our fraud response strategy include clear roles, responsibilities and escalation paths across the lines of defense?
Are we sufficiently leveraging the vast pool of data available to us across all channels to identify fraud risk patterns and potential areas of fraud at an early stage?

What you will get from us:

Transparency on potential weaknesses within the fraud risk framework and insights on industry best practices
Development and enhancement of the fraud risk framework that aligns with your risk appetite and addresses potential vulnerabilities
Establishment of a rapid response framework, outlining roles, responsibilities and escalation paths to ensure swift and effective actions against fraud incidents
Improved surveillance program and anti-fraud controls – e.g., in the areas of internal fraud and external payment fraud
Enhancement of fraud detection capabilities by leveraging advanced tools such as AI and machine learning

Our Approach

Baselining

We perform an analysis of existing processes and controls and benchmark those against the bank’s risk appetite and industry best practices to identify potential areas of improvement
Customized fraud framework and controls

We develop a tailored fraud risk framework that aligns with your organization’s risk appetite and operational needs. By embedding fraud prevention directly into your risk management framework, we help you to create a defense that adapts to your bank’s needs
Advanced technology integration for proactive detection

Leveraging advanced technologies (e.g., AI-supported pattern detection and machine learning), we enhance your detection capabilities with near-time monitoring and predictive analytics. These advanced technologies improve fraud detection accuracy, reduce false positives and allow your team to focus on genuine threats
Comprehensive incident response and continuous adaptation

We craft a clear, rapid-response plan that defines roles, responsibilities and escalation protocols, equipping your team to handle fraud incidents with speed and confidence