Fraud In The Digital Age
from Financial Futures Hosted by FIS, Erin Dangler, Eric Kraus
As the ways we spend and move our money go ever-more digital, fraud and identity theft have followed not far behind. The technology revolutionizing financial services has created new opportunities for fraudsters to exploit. But it also brings new tools that we can use to protect ourselves--including identity safeguards that are more high-tech, and definitely more convenient, than the passwords and nostalgic security questions of yore. Eric Kraus, vice president of fraud, risk, and compliance solutions at FIS, believes that the benefits of our new financial technologies ultimately outweigh the risks. But he says consumers and financial institutions still have a long way to go to fully mobilize fraud prevention measures. In the Season One finale of “Financial Futures,” FIS’ Eric Kraus joins us to discuss fraud in the digital age. Topics include: How fraudsters have adapted to new digital payment technologies How the COVID pandemic has fueled fraud trends Why some of the most tech-savvy people among us are at the greatest risk for fraud How financial institutions can up their game to protect customers Tips for good “password hygiene” and other ways to avoid falling victim
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What this episode covers
As the ways we spend and move our money go ever-more digital, fraud and identity theft have followed not far behind. The technology revolutionizing financial services has created new opportunities for fraudsters to exploit. But it also brings new tools that we can use to protect ourselves--including identity safeguards that are more high-tech, and definitely more convenient, than the passwords and nostalgic security questions of yore. Eric Kraus, vice president of fraud, risk, and compliance solutions at FIS, believes that the benefits of our new financial technologies ultimately outweigh the risks. But he says consumers and financial institutions still have a long way to go to fully mobilize fraud prevention measures.
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