The COVID-19 pandemic has brought unprecedented changes and challenges for Financial Services. More than ever now, people are reliant on digital payments and new payment technologies for transactions. And keeping up with the trend, fraudsters are continuously finding creative ways to perpetuate their scams. Financial services must adopt more effective fraud detection and prevention strategies.
OpenGov Asia had the opportunity to speak with Ian Holmes, Global Lead for Enterprise Fraud Solutions, Director, SAS to gain his insights on fraud detection and prevention strategies in financial services.
Having joined SAS in 2011, Ian’s global role is to provide fraud expertise to drive the product enhancement; pre-sales and business implementation of the banking fraud solution globally.
Ian’s fraud expertise is pivotal in retaining SAS’ recognition and reputation in the industry by customers and analysts; supporting marketing initiatives and strategic collaboration with key third party vendors. His career developed from the ‘ground up’ to embrace a customer focussed approach alongside analytics and strategy.
Why is There a Rise in Scams?
As people are staying and working at home, it provides a prime opportunity for fraudsters to infiltrate people’s lives remotely. Free time and the promise of additional income is a great opportunity to gain the attention of the new victim. Scams probably represent one of the most diverse ranges of modus operandi, in some way…
