Securing Multi-Rail Real-Time Payments: Future of the Fraud Stack

Securing Multi-Rail Real-Time Payments: Future of the Fraud Stack

This IDC Perspective outlines the challenges that organizations face and provides a discussion around the approach that can be taken to meet those challenges.Financial institutions and other organizations face new fraud challenges and vulnerabilities as they adopt real-time payments with connectivity to multiple rails. "Preparing a real-time payments fraud strategy will ultimately require financial institutions not only to continuously improve upon transaction monitoring but also to expand the view of risk," says IDC Financial Insights' research directors and coauthors Rivka Gewirtz Little and Steven D'Alfonso.

Please Note: Extended description available upon request.

Executive Snapshot
Situation Overview
Fraud in Real-Time Payments
New Real-Time Payments Mean New Fraud Challenges
Diversified Fraud Attack Types
Mule Accounts
Synthetic Identity Fraud
Payment Modernization: Opening the Door to Fraud Attacks
Approach to the Problem
Align Organizational Goals
Upgrade Fraud Analytic Tools
The Ideal Real-Time Payments Fraud Stack: Assessing Risk in Transactions, Entities, and Beyond
Beyond the Transaction: Understanding Risk at the Entity Level
A Wider View of Risk: Consortium Data and Analytics
A Network View of Risk: Require More from Your Payments Provider
Advice for the Technology Buyer
Align the Fraud and Payment Teams Around New Initiatives
Select the Right Technology Partner
Learn More
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