3 ways to partner with customers to fight holiday fraud
How to keep scammers from robbing the holiday mood and more.
The holiday season brings us many joys: delightful presents, special meals, family traditions and friendly reunions. But the season is also becoming known for a not-so-pleasant surprise—an uptick in the already troublesome issue of cyber and financial fraud.
Financial institutions pay the price for such fraud, in more ways than one. Not only do they foot the bill for installing fraud detection tools, they eat the dollars lost to fraud and sometimes even lose customers who blame them for breaches or hacks related to their products or services.
As Business Insider reports, “fraud is top of mind for consumers going into the holiday season.” So, in addition to using artificial intelligence, biometrics and behavioral analytics to combat fraud this time of year, don’t forget about the greatest non-technical tool in your defensive arsenal: customer communications.
In fact, it’s time for some frank conversations with your customers.
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