Acquirer Fraud Vulnerability Assessment

Identifying where your firm is vulnerable to fraud requires a simultaneous focus on your rear view mirror, both side view mirrors, and on the road ahead. At the FMI we focus our vulnerability assessments to identify weaknesses in these three areas:

Established fraud methods (“yesterday”). Vulnerability to known fraud methods that are already part of established practice. Examples include factoring, fraudulent sales drafts, and fraudulent/misleading products.

Evolving fraud methods (“today”). Vulnerability to new fraud methods that are just now being developed. Current examples include credit schemes, self dealing, and data compromise.

Future fraud methods (“tomorrow”). Vulnerability to fraud methods that have not yet been attempted on a large scale. These methods often apply to brand new banking or retail channels that are still in development. Examples include, RFID terminal compromise and PIN at point-of-sale terminal compromise.

At the Fraud Management Institute, we apply our Fraud Management Lifecycle framework to points of vulnerability in all phases of fraud management, including prevention, detection, mitigation, and investigation. Each phase in the life cycle can exhibit its own unique vulnerabilities. We identify the weaknesses that are particular to your own organization, and provide you with actionable recommendations to remedy those weaknesses.

What we will do for you:

  • Identify vulnerabilities in each of the three important dimensions (current losses, evolving patterns, and new products/channels).
  • Identify vulnerabilities in each phase of the Fraud Management Life Cycle (prevention, detection, mitigation, investigation, etc.).
  • Provide actionable recommendations to remediate the vulnerabilities identified.

You’ll be interested in this service if:

  • You have recently experienced an unexpected increase in fraud losses.
  • You are expanding into new merchant markets and delivery channels, and want to make sure you are protected against future vulnerabilities.
  • You want to establish an infrastructure and foundation for continuous improvement of your fraud management capabilities.

The key benefits you’ll gain from this service are:

  • A reduction in current and future fraud losses.
  • A detailed understanding of your current weaknesses and efficient plans to remedy those weaknesses
  • An increase in the cost-effectiveness of your current fraud management resources.
  • An understanding of where to focus your efforts going forward.