If we have learned anything from digital transformation, it's that fraud now comes in multiple forms across multiple vectors - simultaneously. And for financial services organizations to be able to spot and stop these schemes requires tearing down silos and building new partnerships like never before.

Claire Le Gal, a 26-year Mastercard veteran, shares exclusive insight on:

• Emerging fraud trends - and why they are so challenging to detect
• How we can make it harder for the fraudsters to succeed
• Why fraud fusion centers are only the start of the cross-enterprise collaboration that needs to occur

As banks, merchants and individuals continue to adopt faster payments, fraud is outpacing fraud prevention. How are patterns of fraudulent activity in faster payments different to traditional payment methods? How are the fraud actors collaborating within their fraud community? What are the technologies and controls we need to mitigate this criminality? 

This expert panel will share insights and strategies, including:

• The faster payments fraud landscape;
• The technologies and controls needed to mitigate this criminality;
• How can we improve information sharing and collaboration efforts.

It is not difficult to be fooled. With constant changes to digital apps and a barrage of inbound communication, consumers are being challenged to determine the difference between legitimate business and fraudsters. Behavioral biometrics helps identify when genuine customer transactions are deliberate or accidental as well as legitimate or fraudulent.

In this session, we will share key insights from some of the more sophisticated forms of financial fraud with a focus on social engineering voice scams and money mules:

• Learn about key indicators of fraud for money mule transactions.
• Identify common practices being used to gain the trust of genuine customers.
• Listen to some common scenarios that challenge fraud defenses.

With a little bit of luck and a lot of persistence and sophistication, fraudsters are increasing their likelihood of getting genuine customers to make mistakes or even participate in fraudulent transactions. Incorporating behavioral biometrics can help protect your customers when they are unable to protect themselves.

Deploying a Digital Trust & Safety solution has become more important than ever before, as traditional ways of fighting fraud become obsolete. During this presentation, we will walk you through the Sift Platform and give you a look at how Sift’s fraud protection suite of products can help your company protect itself from fraudsters in 2022 and beyond, without compromising growth.

Mobile phones are an integral part of our digital lives; we've linked banking, emails, and other sensitive data to them, making them a perfect target for fraud and identity theft. What are the latest criminal schemes and what are the financial and telecoms industries doing to spot and stop the scale of the scams? 

This expert panel will share insights and strategies, including:

• How the past two-plus COVID years have changed the face of fraud;
• The evolution of unauthorised mobile porting, SIM swapping and account takeover fraud;
• How the industry can adopt stronger authentication methods such as FIDO. 

As with all things related to cybersecurity and fraud, the race between adversaries and defenders to develop more effective attacks and more robust defenses continues in the realm of bots, automation and user account abuse. Traditional bot detection techniques that introduce or examine session-specific signals such as user agent analysis, traffic volume thresholds and visual CAPTCHAs were effective for a time, but recent increases in both account takeovers via credential stuffing and in synthetic account creation present challenges for defenders. This session describes the current state of bot defense, briefly defines the techniques and risks associated with account takeovers and synthetic accounts, and proposes a longitudinal approach to detecting account abuse and associated fraud.

Modern fraudsters are organized and sophisticated. How so? What does this mean for you today?

We dissect three real fraud rings to show the DNA of their newest attacks: supermodern social engineering, device emulators, residential botnets and more.

Join fellow SRM leaders and master:

• The telltale behavioral patterns of a coordinated attack;
• Fraudsters’ latest tools and the clues that give them away;
• The strategy and tech that modern fraud prevention teams use to win.

Enhance your Summit experience by visiting the Sponsors’ Interactive Booths. Chat with Representatives at each Booth, access valuable resources, schedule a demo and more!

No other technology is more pervasive and hated by security and fraud professionals than the password. Passwords have proven to be the combination of poor security and even worse usability. Even well intentioned users find it hard to comply with various complexity and rotation requirements without reusing or writing down passwords. Apple, Google and Microsoft recently announced a commitment to support FIDO standards to enable passwordless sign-ins. Does this mean the end of passwords altogether? Will ordinary users understand and trust this new paradigm? How will criminals adapt? This panel will discuss the impact of passwordless authentication and highlight hidden pitfalls for users and organizations.

Heightened third-party risk, unrelenting ransomware attacks and a shifting regulatory landscape. These are boom times for cybersecurity and privacy attorneys, but difficult times in the fraud space for non-legal executives trying to make sense of it all. Join this session and hear straight from two leading attorneys about:

• Negotiating the tricky ransomware landscape;
• Emerging regulatory concerns;
• What non-lawyers need to know about cybersecurity, fraud and privacy legal issues.

Organizations with good cybersecurity hygiene are 35 times less likely to become a ransomware victim. When evaluating supply chain risk to prevent future attacks, it is critical to evaluate data, transaction and operational risks. In this exclusive session, Kelly White will take a deep dive into the following key topics:

• What are the best strategies to mitigate supply chain risks?
• Best practices for organizations to sustain good cyber hygiene
• What are the key evaluators CISOs should keep in mind for risk mitigation?

The open banking revolution is quickly gathering momentum. While it has helped increase the operational efficacy of banking and heighten customer experience, the threat of lack of security and privacy looms large. Various  types of fraud, including new account opening fraud, is holding back the adoption of open banking. The session will also discuss:

• The various types of fraud occurring through open banking
• Modus operandi of the attacker
• How to spot these type of fraud

Sixty-five percent of merchants say less than 90% of their CNP transactions are authorized; deposit fraud attacks have sharply risen; and 71% of FIs have seen voluntary attrition increase in the wake of the Great Resignation. These are among the highlights of the latest research by Aite-Novarica Group. In this session, Julie Conroy of Aite-Novarica discusses:

• The latest on CNP fraud;
• How FinCrime operations are responding to the Great Resignation;
• Tends around the spike in deposit fraud.

All content from Day 1 will be available on demand from 9 AM - 5 PM ET on Day 2, Wednesday, June 17th. Don’t miss the chance to log-in and consume any content you may not have had the chance to see at your own convenience.