With a rise in incidents of omnichannel financial fraud globally, financial institutions need to enhance their ability to detect fraud - while also reducing technical complexity. Maxim Shifrin of IBM Trusteer discusses new solutions.
"It used to be that a fraudster would attack a single channel, specializing in just [a single fraud vector]," says Shifrin, IBM Trusteer Technical Product Manager for Pinpoint Solutions. "Today we're seeing fraudsters who are adept at using multiple channels for a single attack."
An example: Using a phishing attack to collect account information, then using that data to commit fraud via a bank's call center.
In an interview about omnichannel fraud, Shifrin discusses:
- Global fraud trends and how institutions are challenged to detect fraud incidents;
- The unique challenges presented by omnichannel fraud;
- How IBM Trusteer is helping institutions improve detection while reducing costs and technical complexity.
Shifrin has more than 10 years in the industry in multiple positions from software development to business. In his role, he is part of the Pinpoint products offering team, an industry leading solution for fighting cybercrime and advanced threats. Prior to joining IBM, he held various roles at leading industry companies such as Nice Actimize, which gives him a wide view on the market, customer needs and the fraud landscape.