Decoding Deception: Rabobank’s Battle Against Dating Fraud — Insights into Challenges, Strategies, and the Tech-Driven Future
Unmasking the shadows of financial deceit: Rabobank shares its playbook on combating dating fraud. Ready to peek behind the curtain and discover the keys to a fortified financial world?
- On: January 11, 2024
Irene van der Laan
Director FEC Fraud
What are some of the most significant challenges that your team encounters when investigating and mitigating cases of FEC fraud?
There are several challenges we encounter, which I will speak about at the summit.
To address one specifically here: a tough challenge to tackle is the ‘education’ of our customers and informing them about threats related to fraud. Fraudsters are getting more and more sophisticated, and real and fake are becoming increasingly difficult to distinguish, especially when customers are susceptible to deception due to, for example, the loneliness they encounter in everyday life.
What we see in practice is that my analysts often have to use all their skills to convince our clients they have been victims of dating fraud and help them understand that the person they are transferring money to does not exist. This can be really challenging and heart-breaking even.
To address one specifically here: a tough challenge to tackle is the ‘education’ of our customers and informing them about threats related to fraud. Fraudsters are getting more and more sophisticated, and real and fake are becoming increasingly difficult to distinguish, especially when customers are susceptible to deception due to, for example, the loneliness they encounter in everyday life.
What we see in practice is that my analysts often have to use all their skills to convince our clients they have been victims of dating fraud and help them understand that the person they are transferring money to does not exist. This can be really challenging and heart-breaking even.
In the domain of operational risk management, how can fraud prevention strategies optimally harmonise with the bank’s goals, encompassing ethical, compliance and policy matters?
Fraud prevention strategies do not need to be harmonised, these are in themselves an extension of the bank’s goals, ethics, etcetera.
Rabobank is a cooperative bank with a mission of ‘Growing a better world together’. Working for Rabobank is a way to make the world just a little better. In big and small ways, we want to help more people become more financially self-reliant and ensure sustainable growth for entrepreneurs.
What technology-powered techniques and tools can aid in securing and expediting fraud detection? How can they be advantageous?
More and more behavioural science is being incorporated and of course AI technologies are important techniques to follow and adapt to.
Eager to find out more about the topic? This is just a tiny hint on what is waiting for you at the
18th Annual Operational Risk Management Summit!
Explore and brainstorm the enlightening case study: “External Fraud: Redefinition of Deception” by Irene van der Laan, already on 7 – 8 of February 2024, at InterContinental Hotel Vienna!
18th Annual Operational Risk Management Summit!
Explore and brainstorm the enlightening case study: “External Fraud: Redefinition of Deception” by Irene van der Laan, already on 7 – 8 of February 2024, at InterContinental Hotel Vienna!
Short Speaker BIO:
Irene has a Master of Science degree and a career in the in the Financial sector for 23 years now, of which the last 4 years related to KYC/FEC.
You might also like
