Address- Conduct thorough analysis of transactional data, patterns, and trends to identify potential fraudulent activities, like first-party fraud risk.
- Develop and maintain fraud detection systems and tools to proactively mitigate risks.
- Investigate suspicious activities and transactions, determining root causes and developing strategies and statistical models to prevent future occurrences.
- Implement and manage fraud detection technologies and tools, ensuring optimal functionality and efficiency.
- Generate reports and presentations outlining fraud risks, incidents, and mitigation strategies for management review.
- Collaborate with cross-functional teams, including risk management, operations, and compliance, to enhance fraud prevention measures.
- Monitor industry trends, regulatory changes, and best practices to continually enhance fraud prevention strategies.
- Utilize data analytics tools and methodologies to conduct in-depth assessments and generate reports on first-party fraud trends and potential vulnerabilities.
- Stay updated on industry trends, emerging threats, and best practices related to first-party fraud prevention.
- Work closely with law enforcement and regulatory agencies, when necessary, to address instances of first-party fraud.
