Product Type: Market Research Report
Published by: Javelin Strategy & Research
Published: May 2007
Product Code: R3424-38Description This report aids institutions in their anti-fraud prioritization efforts, providing a set of steps and recommended inputs for FIs to leverage in their respective 2008 budget prioritization models. The lack of a structured prioritization model for allocating risk and fraud budget resources is hindering many financial institutions in their fraud mitigation efforts. Utilizing robust qualitative data gathered from executive interviews and quantitative findings from the nation’s most comprehensive study on identity fraud, Javelin investigates the current prioritization practices, and recommendations to eliminate problems with existing processes.Table of Contents - Overview
- Primary Questions
- Findings and Analysis
- Executive Summary
- Incorporating Fraud Data from the Consumer Perspective into your Model
- Developing a Prioritization Model: Steps
- Defining "Prioritization"
- For Many Fis, Prioritization Is Disorganized, Illogical and Riddled with Obstacles
- How Are Risk and Fraud Executives Setting their Budget Priorities to Fight Fraud?
- Developing a Model: Breaking down the Data
- Aligning Industry-Defined Fraud Categories with Consumer Data: Account Type
- Aligning Industry-Defined Fraud Categories with Consumer Data: Means of Access
- Aligning Industry-Defined Fraud Categories with Consumer Data: Means of Misuse
- Prioritization Model: An Abbreviated Example
- Table of Figures
- Figure 1: Four Step Prioritization Model
- Figure 3: Risk and Fraud Executives Faced with Daunting Challenges
- Figure 4: Prioritization Elements that Drive ROI
- Figure 5: Classifying Fraud: Industry and Consumer Data Categories
- Figure 6: One-Year Fraud Incidence Rates
- Figure 7: How the Criminal Obtained the Victim's Information
- Figure 8: How the Criminal Perpetrated Identity Fraud
- Figure 9: Ranking Your Fraud Priorities
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