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Mar 31, 2022
Bank fraud is a growing epidemic that has spread to financial institutions throughout the world. This report makes a business case for the use of privacy-enhancing technologies that enable banks to share customer account and device information, thus raising the maturity of their fraud detection and prevention capability.
Key takeaways from the research and analysis:
• The anonymity of digital banking has changed the landscape of financial crime.
• Bank data sharing needs to extend beyond government agencies and third-party clearing houses to effectively combat fraud.
• Privacy-enhancing technology is the ideal enabler of decentralized inter-bank information sharing, encrypting shared data while allowing the underlying account and device data to be queried and analyzed. Read now to learn more.