Bank Fraud: Using Technology to Combat Losses

Preface

I was introduced to the fascinating world of data-driven risk management back in the mid-1990s. Since then, I have come across repeated situations where the lack of planning of simple things resulted in a significant drop in the quality of the achievable, desired results. I felt that a book that detailed the steps of designing and implementing a data-driven risk management system—and how interconnected everything is—would really help practitioners of risk management achieve their goals. This book is aimed at helping business and IT users define their data and analysis environments correctly from the beginning so that the best possible results can be achieved by their risk (specifically fraud) management systems.

This book is not meant as a primer to convert the reader into a data scientist (that requires significant academic and practical training). Rather, it was written to help the reader become a power user of data-driven systems by covering in detail the ingredients necessary to build and maintain a healthy fraud management environment. Without the right data environment (and attitude of all the personnel involved), even the best, most advanced data-driven solutions cannot yield optimal results. Bank Fraud: Using Technology to Combat Losses aims to help define such an environment.