Define and build a strong fraud risk strategy

Defining a risk strategy is a key element to a strategic approach to fraud risk management. This includes defining, designing, assessing and evaluating your approach to preventing and managing fraud through four key areas:

1. Governance

   Establishing well-defined structures, with clear ownership, control and accountability, reduces the overall exposure to fraud and ensures you are ready to address today’s threats and tomorrow’s opportunities. Experian’s global best practice fraud consultancy supports organisations in creating an overarching governance and management structure to define, document, communicate and manage the vision and strategy for controlling fraud risk across the organisation.

2. Data analytics and management information

   Our data analytics capabilities can unlock the value of your existing data to improve fraud detection and prevention. We can help you combat fraud by leveraging internal and external data to develop fraud models and scorecards so you can identify and track fraud trends and move beyond manual “yes or no” decisioning processes. Using advanced analytics, you can identify and classify historic fraud cases, build fraud predictor information, stay ahead of fraud trends and ultimately detect fraud faster.

3. Methodologies and processes

   Our proven approach balances risk, revenue and customer experience. By defining and applying investigation methodology and operational processes, external data requirements, intervention processes, customer application strategies and automation across all channels, you can ensure consistency, improved productivity and detection rates, as well as an enhanced customer experience.

4. Systems

   Our automated systems and patented technologies can enhance organisations’ fraud risk control without damaging customer experience. We can help you evaluate and deploy the most appropriate solutions that fully reflect your fraud risk strategy to improve your ability to detect, investigate and ultimately, prevent fraud.

Let Experian help you develop a strategic response to fraud.

Looking to learn more? Click here to read more about Experian’s strategic approach to fraud risk management.