2nd Annual e-Crime Fraud Forum 2017
Technology is allowing fraudsters to embrace mass production. The Office for National Statistics reported 3.8 million fraud offences in 2015. For those responsible for fraud detection this means new, automated, maybe AI-based, solutions are needed to supplement human monitoring. For those in forensics and investigations, it creates an almost impossible workload: are the answers to be found in machines or outsourcing? Cyber-fraud detection and remediation are now an enterprise-level risk management problem. Traditional structures and approaches are no longer satisfactory: should fraud and internal investigation teams be compliance bolt-ons or stand-alone and autonomous? Should they report to internal audit or in-house counsel or a CISO or CRO?