SAS recently released its Faces of Fraud Study which reveals how consumers are reacting to fraud scams today and what businesses need to do to keep up. The study shows that 70% of consumers have fallen victim to fraud at least once; 9 in 10 expect the organizations they interact with to do more to protect them from fraud. The “ah hah” moment for businesses: Two-thirds said they would switch providers due to a fraud experience or if another provider offered better fraud protections. Theodora Lau joins this edition of Fraud in Five to discuss how financial service firms can rise to meet their customers expectations for better safeguards against fraud.

Interview outline
00:00 – Welcome
01:50 – In your role with financial services firms, what are you hearing from banking leaders about the rampant fraud that persists today?
03:24 – You bring up an interesting topic with the difficulties of integration and we have long seen that those difficulties are resulting in blind spots or gaps as they roll out these digital technologies- gaps in the prevention of fraud. Is that topical for you as well?
04:35 – What is the call to action for banks and other financial firms to close the gap to protect consumers from fraud?
05:55 – What are your thoughts about the role of biometrics technology and personal data in the fight against fraud?
08:30 – What are the implications for financial institutions with innovations like Generative AI?
10:15 – What are some of the things that you have heard from the Financial Institutions, Stu?
13:37 – How do you see financial services industries using technology to help address some of the emerging customer expectations while managing risk?

Learn More about SAS Software and Next Steps
◉ Faces of Fraud Study – https://www.sas.com/en_us/news/press-...
◉ SAS Fraud, AML & Security Intelligence – https://www.sas.com/fraud


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