Abstract

Fraud detection within financial platforms is a challenging area with fraud events cutting across multiple financial products, service channels and geographical locations. Fraudsters are continuously seeking security flaws, and rapidly reengineering fraud methods to gain unauthorized access to accounts and execute illegal transactions. Fraud detection systems employed by financial institutions have to respond to new threats by shortening fraud detection points, increasing the accuracy of customer profiling methods, and rapidly deploying new policies to address loopholes. This talk will identify challenges and opportunities linked to proactively managing financial fraud through real-time evaluation of financial data streams. In particular, the talk will discuss how fraud management frameworks and architectures designed using stream-based platforms and policy based languages can be leveraged to increase the effectiveness of fraud management.