Fraud Detection and Prevention

  1. Fraud Prevention Strategies
    1. Authentication and Identity Verification
      1. Authentication Factors
        1. Knowledge Factors
          1. Passwords
            1. PINs
              1. Security Questions
              2. Possession Factors
                1. Hardware Tokens
                  1. Mobile Devices
                    1. Smart Cards
                    2. Inherence Factors
                      1. Fingerprints
                        1. Facial Recognition
                          1. Voice Recognition
                            1. Iris Scanning
                          2. Multi-Factor Authentication
                            1. Two-Factor Authentication
                              1. Three-Factor Authentication
                                1. Implementation Considerations
                                  1. User Experience Balance
                                  2. Risk-Based Authentication
                                    1. Risk Scoring
                                      1. Contextual Analysis
                                        1. Adaptive Authentication
                                          1. Step-Up Authentication
                                          2. Digital Identity Verification
                                            1. Document Verification
                                              1. ID Document Analysis
                                                1. Optical Character Recognition
                                                  1. Security Feature Detection
                                                  2. Biometric Verification
                                                    1. Liveness Detection
                                                      1. Template Matching
                                                        1. Anti-Spoofing Measures
                                                        2. Knowledge-Based Authentication
                                                          1. Static KBA
                                                            1. Dynamic KBA
                                                              1. Data Sources
                                                          2. System Security and Controls
                                                            1. Access Controls
                                                              1. Role-Based Access Control
                                                                1. Attribute-Based Access Control
                                                                  1. Principle of Least Privilege
                                                                    1. Privileged Access Management
                                                                    2. Data Protection
                                                                      1. Encryption at Rest
                                                                        1. Database Encryption
                                                                          1. File System Encryption
                                                                            1. Key Management
                                                                            2. Encryption in Transit
                                                                              1. SSL/TLS Protocols
                                                                                1. VPN Connections
                                                                                  1. Secure Communication Channels
                                                                                  2. Data Loss Prevention
                                                                                    1. Content Inspection
                                                                                      1. Policy Enforcement
                                                                                        1. Monitoring and Alerting
                                                                                      2. Application Security
                                                                                        1. Secure Coding Practices
                                                                                          1. Input Validation
                                                                                            1. Output Encoding
                                                                                              1. Error Handling
                                                                                              2. Security Testing
                                                                                                1. Static Analysis
                                                                                                  1. Dynamic Analysis
                                                                                                    1. Penetration Testing
                                                                                                    2. Vulnerability Management
                                                                                                      1. Vulnerability Scanning
                                                                                                        1. Patch Management
                                                                                                          1. Risk Assessment
                                                                                                        2. Network Security
                                                                                                          1. Firewalls
                                                                                                            1. Network Firewalls
                                                                                                              1. Application Firewalls
                                                                                                                1. Next-Generation Firewalls
                                                                                                                2. Intrusion Detection Systems
                                                                                                                  1. Network-Based IDS
                                                                                                                    1. Host-Based IDS
                                                                                                                      1. Signature-Based Detection
                                                                                                                        1. Anomaly-Based Detection
                                                                                                                        2. Network Segmentation
                                                                                                                          1. DMZ Implementation
                                                                                                                            1. VLAN Segmentation
                                                                                                                              1. Micro-Segmentation
                                                                                                                          2. Operational Controls
                                                                                                                            1. Transaction Controls
                                                                                                                              1. Velocity Limits
                                                                                                                                1. Transaction Frequency Limits
                                                                                                                                  1. Amount Velocity Limits
                                                                                                                                    1. Geographic Velocity Limits
                                                                                                                                    2. Transaction Limits
                                                                                                                                      1. Daily Limits
                                                                                                                                        1. Monthly Limits
                                                                                                                                          1. Per-Transaction Limits
                                                                                                                                          2. Approval Workflows
                                                                                                                                            1. Dual Authorization
                                                                                                                                              1. Escalation Procedures
                                                                                                                                                1. Override Controls
                                                                                                                                              2. Monitoring and Alerting
                                                                                                                                                1. Real-Time Monitoring
                                                                                                                                                  1. Transaction Monitoring
                                                                                                                                                    1. Behavioral Monitoring
                                                                                                                                                      1. System Monitoring
                                                                                                                                                      2. Alert Management
                                                                                                                                                        1. Alert Prioritization
                                                                                                                                                          1. Alert Routing
                                                                                                                                                            1. Alert Escalation
                                                                                                                                                            2. Incident Response
                                                                                                                                                              1. Response Procedures
                                                                                                                                                                1. Communication Plans
                                                                                                                                                                  1. Recovery Processes
                                                                                                                                                                2. Segregation of Duties
                                                                                                                                                                  1. Role Separation
                                                                                                                                                                    1. Authorization Levels
                                                                                                                                                                      1. Review and Approval Processes
                                                                                                                                                                        1. Conflict of Interest Management
                                                                                                                                                                      2. Customer Education and Awareness
                                                                                                                                                                        1. Security Awareness Training
                                                                                                                                                                          1. Phishing Awareness
                                                                                                                                                                            1. Social Engineering Prevention
                                                                                                                                                                              1. Password Security
                                                                                                                                                                                1. Safe Online Practices
                                                                                                                                                                                2. Communication Strategies
                                                                                                                                                                                  1. Security Notifications
                                                                                                                                                                                    1. Educational Content
                                                                                                                                                                                      1. Warning Systems
                                                                                                                                                                                        1. Feedback Mechanisms
                                                                                                                                                                                        2. Customer Support
                                                                                                                                                                                          1. Fraud Reporting Channels
                                                                                                                                                                                            1. Incident Response Support
                                                                                                                                                                                              1. Recovery Assistance
                                                                                                                                                                                                1. Prevention Guidance

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                                                                                                                                                                                            6. Operationalizing Fraud Systems