Security News > 2021 > May > The Anti-Fraud Lifecycle

This would result in the services improving their fraud prevention capabilities, leading to an arms race between the fraudsters and the fraud teams.

Eventually, fraudsters will determine who to target within the industry based on each service's fraud prevention policies and maturity, rather than generally targeting the industry.

We can break down this anti-fraud lifecycle to three main maturity stages and we can identify the stage of an industry based on the question the services within the industry ask themselves in regards to fraud.

More of the work involves tracking fraud trends and adjusting fraud rules accordingly to detect these patterns.

As organizations can be in different stages compared to the rest of their industries' general maturity, organizations that are more advanced than their counterparts in the lifecycle will enjoy a relatively low amount of fraud.

In 2019, Idan received a "Legends of Fraud" award for his role in creating one of the world's first fraud intelligence services, which monitored the Dark Web on behalf of financial institutions worldwide, as part of his work as Head of Cyber Intelligence at RSA, The Security Division of EMC..

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