What changes in technology are affecting anti-fraud efforts? How about globalization?
The most obvious technological approach to fraud prevention lies in target hardening, such as through the use of computer chip cards authenticated through PINs or biometrics. In addition to target hardening, however, are the many systems designed to monitor transactions that enable high-risk or suspect transactions to be drawn to the attention of consumers at the time of purchase. The global anti-money laundering regime has greatly enhanced the prominence and importance of transaction monitoring by regulators. This not only assists in enabling law enforcement to follow the proceeds of crime, but also has many fraud detection and reduction benefits, which are often not considered in attempts to evaluate the effectiveness of AML/CTF laws. Transaction monitoring has also helped to address fraud, which takes place across jurisdictional borders – thus also assisting in dealing with the globalization of fraud. The concern for the future lies in the various ways in which offenders seek to cir
Related Questions
- IP telephony is a dynamic area with frequent changes in technology; if we go to it now, what assurances are there that our investments wont be lost or stranded in a couple of years?
- How did the globalization of media and technology impact marketing, advertising, and other sales efforts in India?
- What were the technology changes that impacted cotton cultivation and cloth production?
