BioCatch Connect: Reshaping How Fraud and AML Teams Work Together
Faster payments have contributed to a rapid evolution in the fraud landscape in recent years. Whereas attacks have previously focused on systems and applications, fraudsters have transformed their tactics to targeting users directly. This has created new challenges for fraud teams relying on legacy technologies that are not capable of detecting attacks that occur outside the banking platform.
In addition, regulators, legislators, and payment networks around the world are proposing mandatory reimbursement for authorized payment scams with shared liability to be split between sending and receiving banks. These changes are bringing money laundering into the spotlight as mule accounts now stand to create new financial risk.
These developments have compelled the financial industry to reevaluate fraud management and AML capabilities and bridge the gap across the teams who manage it.
Access the white paper to learn how behavioral biometric intelligence, the innovative technology behind BioCatch Connect solutions, is reshaping the way banks manage fraud and financial crime and the benefits offered to fraud and AML teams through shared technology.