Managing Fraud within Consumer Credit Portfolios

Delegates will learn:

- The scale of the fraud problem facing financial institutions in the UK.
- The different types of fraud that occur, including first party fraud, identify theft, account takeover, card inception, conversion fraud, skimming/counterfeiting of cards, card not present fraud, shotgunning and others.
- Where fraud comes from, who is most likely to instigate it and the relationship between media and fraud propensity.
- How to distinguish between genuine bad debt from cases of fraud and suspected fraud, thus reducing the resources expended trying to collect fraudulent debt.
- How to differentiate between anti-fraud actions that can be taken in-house and industry-wide fraud prevention initiatives.
- What fraud prevention tools are on the market and where and when they can be used.
- How fraud scoring is applied in conjunction with traditional credit scoring models of default risk and other types of consumer behaviour.
- How CIFAS works in conjunction with contributing organisations.
- The types of legal action that can be taken when fraud is identified, and when it's prudent to pursue such action.
- The role of the fraud team and how it interacts with other areas of the organisation.
- How to monitor the effectiveness of anti-fraud procedures.