Mental Models to Fight Unlabeled Frauds

With the rise of digital economy, many new fraud types have also evolved. One complexity in many of fraud modus operandi is their unlabeled nature. These are fraud types where there is no deterministic way to categories transactions or users as fraud. This poses many challenges to the measurement,  detection and prevention of these fraud, leaving organizations in a flux on their strategies. The session is focused towards some best practices, mental models and approaches which can be applied to manage such risks.

Learning Objectives:

• Understand why unlabelled fraud types are more challenging to solve, and the damage they can cause to organizations.
• Explore some of the frameworks and approaches which can be applied to unlabelled fraud prevention across the lifecycle of risk management (such as detection, prevention etc.)

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