The value and volume of fraud is increasing despite the significant investment by banks to prevent and detect fraud. Fraudsters are continuously looking for new ways to infiltrate bank systems, effectively moving the goal posts with evolving fraud attacks.
The cost to banks of fraud attacks is monitored and reported, however there is often a lack of clarity on how efficient and effective the fraud function is compared to local and global peers and better practice, and what should be done to improve.
Typical operational issues
The KPMG Fraud Navigator
KPMG has developed a tool to assess the maturity of bank operating models holistically across governance, people, processes and technology. The KPMG Fraud Navigator provides a comprehensive target operating model for your fraud function, enables a maturity assessment, peer comparison and optimization opportunities in terms of both loss mitigation and resource optimization.
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