Fraud Prevention: Q&A with Forrester’s Andras Cser

Forrester's Vice President and Principal Analyst, Andras Cser, discusses the components of an ideal fraud management architecture, including identity verification, web fraud management/risk-based authentication, transactional monitoring, and behavioral biometrics. He highlights challenges faced by financial institutions in combating fraud, such as lack of resources, tool complexity, and data integration issues. Cser recommends operational guidelines, testing new solutions, understanding risk-scoring algorithms, and employing both rule-based and machine learning approaches to combat fraud effectively.