Risk Mitigation Essentials: Reducing Fraud Through Enterprise Technology & Credit Union Intelligence – White Paper

Why has the industry seen so little change in risk events despite increasing resources being allocated to prevent risk? The financial industry has spent a lot of money and effort responding to the problem of risk by treating its symptom – fraud. However, we must first begin to mitigate risk in order to affect the reduction of fraud. The single most significant influence affecting risk mitigation at any credit union is implementing a multi-layered, multi-tiered approach to minimizing risk across the entire enterprise that addresses incoming transactions as quickly as possible.