Fraudsters keep innovating, and the reality today is that fraud is a business. The concept of “fraud as a service” is increasingly relevant as companies emerge that cater to malicious actors with services ranging from automated platforms for taking over phones to data mining tools for collecting personal information.

In response, financial institutions must implement robust and adaptive security measures.

That’s the topic of this episode of Bank on Wipfli. Robert Zondag and Mary Beth Marchione, partners at Wipfli, speak to Spencer Crane, principal solutions architect at ID Dataweb, and Mark Dreux, global financial services leader at ID Dataweb, on combatting fraud. They discuss:

• Emerging cyberfraud tactics: Fraudsters are using tools like generative AI to compromise

security measures, necessitating proactive defenses.

• Balancing security and user experience: Implementing robust identity verification can enhance

security while also improving the user experience, aiding in customer retention and acquisition.

Listen in to learn about the evolving and sophisticated nature of cyberfraud tactics and what your financial institution can do to mitigate risk