The perception of fraud professionals within their organizations as “the people who say no” is as persistent as it is unfair. While many fraud pros still feel undervalued by their employers, others have begun to take a more active role in communicating that value to corporate leadership and, as a result, being more involved—and involved sooner, when they can make more of a difference—in corporate planning and strategy.
We continue our look back at the 2022 CNP Virtual Summit with the session titled Unlocking the Fraud Team’s Value: How to Make Executives Sit Up and Take Notice.
Moderated by Peter Taylor (known in his native Britain as “The Fraud Guy”), the session also featured Sarika Oak, the director of trust and safety at online learning company Udemy, and Gil Rosenthal, a fraud consultant with experience at PayPal and other online fintechs. The discussion covered the challenges inherent in demonstrating fraud teams’ ROI (i.e., it can be difficult to quantify with data the dollar value of fraud your team has prevented), and ways Oak and Rosenthal have overcome those challenges.
“Yes, we’re the fraud team,” Oak says, “but in reality, we’re just trying to keep the bad actors away. At the same time we’re trying to help good users, or confused users, or angry users—who are distinct from fraudsters. The most important thing for any organization is to invest in data, technology and monitoring so you have reporting of things that might be going wrong in real time or near real time.”
While the event was streamed live, the individual sessions are available now on demand to anyone. Those who already registered and attended the CNP Virtual Summit live can visit the session directory, click on the session you want to view and log in using the login information you already received. If you haven’t registered yet, you can still access the on-demand content the same way, just register first and CNP will send your log-in credential.
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