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How are you protecting your companies' assets from Fraud?

  • 1.  How are you protecting your companies' assets from Fraud?

    Posted Dec 03, 2018 11:43
    Edited by Community Manager Dec 03, 2018 11:42

    How are you protecting your companies' assets from Fraud? As we move toward open digital architecture; open APIs and open source components; are the tools traditionally used to identify, prevent and analyze Fraud sufficient? Are you finding new trends in what's needed to manage fraud?

    Please share us your valuable insights.

    You can share your insights in this discussion post or via the  Fraud Management Survey 2019


    #BusinessAssurance
    #DigitalEcosystems
    #DigitalTransformationMaturity
    #IoTandSmartCity
    #OpenDigitalArchitecture

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    Nancy Lyness
    TM Forum
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  • 2.  RE: How are you protecting your companies' assets from Fraud?

    Posted Dec 04, 2018 07:39
    Dear Nancy , 

    Talking very high level, this depends to a high scale to the business you are trying to find fraud or revenue leakage in some other cases. I can suggest using active testing approach besides passive testing, both complementing each other. 

    Active testing, is a simulation of running business process, that will give a full analysis of the full "digital" transactions within this process, and can actively spot gaps or situations where the results show discrepancy with the expected output. 

    Passive testing, will depend on the data resulting from the business process, and by applying  a Business Intelligence (BI) on top of this big data platform, trends and analysis can show variations and insights on the business process performance, for instance, it can show outliers of data, pointing potential fraud act. 

    Hope this help .. 

    Regards,
    Mohammed


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    Mohammed Al-Kalbani
    Ooredoo Oman
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    Original Message


  • 3.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 05, 2018 08:40
    Hi Mohammed,

    You are right. Active testing is key to enhance fraud prevention and not always taken in consideration by the organizations.

    Thanks,
    Luís Brás


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    Luís Brás
    WeDo Technologies
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    Original Message


  • 4.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 07, 2018 11:03
    Hi,

    I would like to ear from other people about active testing.
    Is there anybody else doing it?
    What are the benefits and findings that you can get?

    And please be sure to share your insights on Fraud Management survey using the Fraud Management Survey 

    Thanks.

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    Luis Bras
    WeDo Technologies
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    Original Message


  • 5.  RE: How are you protecting your companies' assets from Fraud?

    Posted Dec 12, 2018 15:01

    In addition to active testing , Artificial Intelligence and Machine Learning are innovative technologies to be implemented to minimize the risks associated with Fraud; what use cases do you feel are most appropriate for utilization of these solutions?

     

    Please  share your insights on this topic and others by taking the Fraud Management survey using the Fraud Management Survey



    ------------------------------
    Nancy Lyness
    TM Forum
    ------------------------------

    Original Message


  • 6.  RE: How are you protecting your companies' assets from Fraud?

    Posted Dec 12, 2018 16:00

    In addition to active testing , Artificial Intelligence and Machine Learning are innovative technologies to be implemented to minimize the risks associated with Fraud; what use cases do you feel are most appropriate for utilization of these solutions?

     

    Please  share your insights on this topic and others by taking the Fraud Management survey using the Fraud Management Survey



    ------------------------------
    Nancy Lyness
    TM Forum
    ------------------------------

    Original Message


  • 7.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 13, 2018 05:28
    What I think, in digital ecosystem, key role is played by Identity and Access Management system to protect the digital assets of the company as well as the customer. With modern IAM products it is possible to protect digital identity of the customer, providing Role based access to resources, protecting APIs with token based authentication mechanism, analyzing behavioral bio-metrics with help of machine learning & AI. With GDPR coming into picture, it has become very eminent to protect digital identity of the customer. Also it is more important to have fraud prevention mechanism in digital ecosystem rather than fraud detection.

    what we see key trends in digital IAM as - 
    Multi-factor authentication 
    Behavioral bio-metrics
    API protections / security 
    Role based access to resources



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    Vishwajeet Ghorpade
    Infosys Ltd.
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    Original Message


  • 8.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 14, 2018 05:15
    Vishwajeet,
    I do agree that fraud prevention is much more important than fraud detection, evenmore in all the schemes related with identity and subscription fraud.
    Do you believe IAM is the only or the main barrier to fraud happens?
    Thanks.

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    Luis Bras
    WeDo Technologies
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    Original Message


  • 9.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 17, 2018 07:05
    What is sure is that fraud prevention process should reuse fraud detection outcome. There not much sense if we detect a fraudster and still allow to sell product or service to the bad guy.
    Also external data sources may be useful, especially the ones that may invalidate previously confirmed identity.

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    Tomasz Rojek
    T-Mobile Poland SA
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    Original Message


  • 10.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 18, 2018 04:58
    It may not be 'only' but definitely main and the first barrier for fraud in the digital ecosystem.

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    Vishwajeet Ghorpade
    Infosys Ltd.
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    Original Message


  • 11.  RE: How are you protecting your companies' assets from Fraud?

    TM Forum Member
    Posted Dec 19, 2018 10:00
    Thanks Vishwajeet & Tomek for your insigths!

    May I ask you all to contribute to the Fraud Management survey (https://www.surveymonkey.com/r/TMWSKHS) sending the link to all your fraud management contacts and publishing the following Linkedin post (https://www.linkedin.com/feed/update/urn:li:activity:6477945559482134528 ) ?

    Many thanks!

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    Luis Bras
    WeDo Technologies
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    Original Message