June 2019
Published by CFO Tech Outlook
It’s been nearly three decades since modern, sophisticated fraud detection systems have been widely deployed within banks, credit card processors, brokerages, online merchants and anyone else who sits within the increasingly-complex financial systems ecosystem that keeps commerce moving around the world. And while these systems continue to become increasingly more sophisticated and capable at handling new types of fraud, it is almost guaranteed that fraud techniques will continue to evolve quickly. As a result, there continues to be much evolution in the financial fraud detection space today.
In parallel, as more financial systems have become connected to the outside world via the Internet, a massive global cyber security threat has produced a multi-billion-dollar criminal industry tha thas put cmpanies out of business, threatening individual lives and altered political landscapes throughout the world. According to Aon’s 2019 Aon Global Risk Management Survey, which surveys risk management professionals around the globe, cyber security risk is the #1 concern among North American companies.
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