As banks and credit unions grapple with the impact of COVID-19 on their operations, the pandemic disruption is creating new opportunities for fraudsters and additional challenges for financial institutions. Rippleshot it making available its analysis based on its consortium data of thousands of financial institutions across the U.S.
Rippleshot’s CEO Canh Tran and Chief Data Scientist Randal Cox shared their research on the economic impacts of COVID-19 across the U.S., the evolving fraud trends, and mitigation strategies for your financial institution during a webinar on April 29. The presentation from their webinar is now available.
The presentation addresses:
- The fallout during past pandemics and economic shocks and the current economic impact across the U.S.
- The significant risks to your financial institution, including broad expectations of decreases in transaction volumes over the near term.
- How fraud has increased in frequency and volatility during a period where operations have not kept pace with increased risk.
- Our predictions and mitigation strategies to respond this year to the growing fraud trends.