Keeping financial institutions safe in 2018

by Dr. Michael Skiba

There are several trends that financial institutions should keep an eye on in 2018 to help keep them safe. First, data; research indicates that there will be more data in circulation in the next 6 months than ever before. Companies need to learn how to leverage this properly. Second, companies need to create ecosystems where systems are "talking" to one-another and avoiding isolated silo structures. Third, big scale cases are being detected, however, the small scale vulnerabilities are really adding up and creating significant pain points for companies. Finally, carriers need to focus on the onboarding and point of sale as this is a critical area for risk management. If financial institutions focus on these four areas, they will experience a safer 2018!

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About the author

  • Dr. Michael Skiba

    Dr. Skiba (also known as “Dr. Fraud”) has worked in the insurance fraud industry for 22 years in various claims, Special Investigations, and leadership roles. He is currently Vice President of Counter Fraud Strategies at INFORM. He has also been a professor for 12 years and is currently Lead Faculty of Fraud Management at Colorado State University Global Campus. He is an international speaker and regular publisher on the topic of insurance fraud. He holds an MBA and a PhD with a concentration on economic crime and insurance fraud. He is also the President of the NY Chapter of the International Association of Special Investigative Units.

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