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Clari5 Resource Center

Browse through our repository of best practices to learn how Clari5 can help your bank stay ahead of the fight against financial crime.

Blogs

Blogs

Fraud Risk Management 101: Top 5 Fraud Prevention Best Practices in Banking

As per ACFE’s last Report to the Nations, fraud is a staggering $ 4 trillion global problem – a size and scale astronomical enough for every bank to seriously rethink their entire fraud risk management approach. Let’s take a look at the top 5 implementable best practices that make for the foundation of a robust banking enterprise anti-fraud framework.

From BI to AI: Moving from ‘What happened?’ to ‘What’ll happen next?’

Business intelligence (BI) solutions are not new to banking. With a blend of tools, techniques, and technology, BI processes information with accuracy, which otherwise would have been performed by humans. BI solutions have been enabling banks with capabilities to generate more revenue, reduce costs, mitigate risks, and more.

Is Open Banking More Open to Fraud?

Open banking (under the European Union’s Revised Payment Services Directive or PSD2), means third parties can link up to customers’ accounts, provided the customer consents. With data-sharing as the central feature, open banking is designed to encourage higher product and service innovation, make it easier for non-banks to participate and streamline user experience.

Fraud Risk Management 101: 5 Steps to Bettering Anomaly Detection

The business value of anomaly detection use cases in banks is obvious. From credit card fraud to check fraud to money laundering to cybersecurity, precise and quick anomaly detection is necessary to conduct business, protect customers and protect the bank from potential losses.

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