Fraud Management & Cybercrime , Fraud Risk Management , Social Engineering

Best Practices for Fighting Authorized Push Payment Fraud

3 Experts Describe Lessons Learned
(From left) Alasdair MacFarlane, Karen Boyer and Dave Excell

How can financial institutions deal with the problem of authorized push payment fraud? Three experts - Karen Boyer of People’s United Bank, Alasdair MacFarlane of NatWest Bank and Dave Excell of Featurespace - offer their insights on best practices.

See Also: Secure Business Communications: Trends, Truths and Threats

In a video interview with Information Security Media Group, the panelists discuss:

  • How authorized push payment fraud, which involves manipulating victims into making real-time payments to fraudsters, has evolved;
  • Technologies banks are using to fight this fraud;
  • Lessons to learn from U.K. banks.

Boyer is vice president, financial crimes and fraud intelligence, at People’s United Bank, a regional bank in the Northeast U.S. with nearly 400 locations. She has more than 20 years of diverse banking experience, specializing in fighting fraud.

MacFarlane is head of fraud prevention and response at NatWest Bank in the U.K. He heads the bank’s fraud prevention and detection technology strategy and applications.

Excell is founder and president of Featurespace, a fraud and financial crime prevention firm. An experienced technology innovator with more than 20 years of engineering experience, he received the ITC Enterprise Award for Young Entrepreneur.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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