via Fintechnews Singapore
Almost three in four banks in Asia Pacific anticipate that fraud in their country will increase in 2019, according to a recent poll by FICO.
Two of the main areas of concern are card-not-present fraud and application fraud. Card-not-present payments are concerns are fueled largely by the fact that over 50% global online retail sales came from Asia Pacific in 2018.
Dan McConaghy, President of FICO in Asia Pacific shared that it is precisely due to such reasons that banks need to use AI and machine learning to combat the increased fraud risk. (more…)