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Live Webinar on Feb 28: Authorized Push Payments (APP) Fraud: Trends, Risks, and Your Defense Playbook

February 2, 2023 - Steve Knopf

4 Fraud Strategy Topics I Can’t Wait to Discuss at DataVisor’s DEFEND Webinar

Our upcoming webinar, DataVisor DEFEND: The Needle in the Fraud Tech Stack on February 15th at 2pm ET, is a can’t-miss event if you’re in the fraud prevention industry.

Of course, you might call me out and say I’m a bit biased as I’ll be speaking at the webinar. While you’re right that I am excited to be part of the conversation, it’s the discussions we’ll be having—and who we’re having them with—that makes this conversation so worthy of your time.

Joining me on this panel of fraud prevention virtuosos are:

  • Krithika Ramadoss, VP Risk Strategy at Bill.com and banking industry veteran who’s seen it all in financial fraud.
  • Jonathan Care, former Gartner Analyst and, in my opinion, the closest thing our industry has to a spokesperson.
  • Maxim Spivakovsky, current Sr. Director of Global Payments Risk Management at Galileo with years of experience fighting fraud at leading financial institutions.

We’ll be framing out discussion around hacks and tools to manage risk in digital payments, and will touch on everything from fraud trends rising in 2023 to what you need to add to your fraud stack to balance an effective fraud detection system with a delightful customer experience.

We’ll no doubt branch off into much more as we answer viewer questions and bounce off each other’s points, but there are four specific topics I really can’t wait to discuss.

How real-time payments are impacting fraud strategists’ work

Real-time payments throw a bit of a wrench into the traditional system of payments, and thus fraud prevention strategies. As opposed to batch-processed payments that take time to settle, real-time payments are instant for users. While these faster payments are customer-approved, they tend to also be fraudster friendly.

Fraud scams targeting real-time payments leave fraud prevention teams in a tough spot. Real-time decisions need to be made based on massive datasets, and the consequences of actions taken on those real-time transactions are irreversible. Striking a balance between catching/preventing fraud while preserving a seamless customer experience is near the top of any fraud prevention team’s list of challenges in 2023—and we’ll be diving into the deep end on how fraud leaders are accomplishing it as well as the tools they’re using.

Hearing my co-panelists’ favorite fraud-fighting tool

Speaking of fraud leaders and their chosen tech stacks, this is a question that I feel I’m not alone in being very excited to hear the panel’s answers to.

Fraud leaders in every branch of finance have their personal favorites when it comes to building a tech stack to detect and stop fraudsters. While some might get more play in a specific niche of banking vs. others being legacy favorites, it’s clear the landscape of fraud tools is rapidly growing and improving. With that growth comes a huge increase in choice for fraud teams—a blessing and a curse as it can cause decision paralysis for some.

One of my personal favorite tools is device intelligence because it enables fraud teams to gather unparalleled device and behavioral information to stop advanced fraud threats. As a technology enthusiast, the fact that DataVisor’s dEdge also has edge computing capabilities is particularly interesting to me. What do the others think? You’ll have to tune in to find out.

A group discussion on recent initiatives/experiments that didn’t perform as expected

Fraud leaders nowadays run very efficient shops. They tend to be analytical minds who love a good A/B test or an experiment. And with good reason—working with technology means always innovating. While we like to focus on the experiments that lead to breakthroughs, the truth is that inevitably a good chunk of these tests fail.

But there’s beauty to this. We can learn so much from what doesn’t go right so we improve our methods for the next iteration. In many cases, we learn more from failing than we do from succeeding, as it’s easier to pick through the bones of a crash and see what caused the wreck than to find potential areas of improvement for a craft that seems to be doing just fine in the air.

Learning the panel’s biggest concern—other than rising fraud detection rates—when choosing new fraud technologies.

Every fraud team is tasked with many different objectives nowadays. It’s not just about stopping more fraud. It’s about how efficiently you’re stopping it. It’s about how your decisions affect the customer experience and maintaining a smooth one. It’s about knowing how fast your solution can adapt to new products and new, more sophisticated fraud methods. It’s about keeping costs within budget and proving ROI.

That’s obviously a lot to consider when choosing the fraud tech you want in your stack. I want to hear from the panel on the concerns they prioritize solving as they build and update their fraud solutions, and I know that information will be crucial for you as a fraud leader building your own stack and shaping your fraud strategy.

Ready to join me in getting the latest need-to-know info from a few of the best in the industry? Register for DataVisor’s DEFEND – The Needle in the Fraud Tech Stack: Hacks and Tools to Manage Risk in Digital Payments and I’ll see you on February 15th!

about Steve Knopf
Steve has over two decades of experience in Product Management and Trust & Safety business leadership and strategy. He previously held leadership roles at eBay, Letgo and OfferUp, helping to protect millions of users from fraud and other negative experiences. Prior to that, he was a Program Manager at Microsoft.
about Steve Knopf
Steve has over two decades of experience in Product Management and Trust & Safety business leadership and strategy. He previously held leadership roles at eBay, Letgo and OfferUp, helping to protect millions of users from fraud and other negative experiences. Prior to that, he was a Program Manager at Microsoft.