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Virginia Garcia, Research Director of the Strategies & IT Investments practice at Tower-Group.This article is based on TowerGroup research by Virginia Garcia, Research Director of the Strategies & IT Investments practice at TowerGroup, a leading advisory research and consulting firm focused on the global financial services industry.Those interested in learning more about TowerGroup or subscribing to its research services may call +1.781.292.5396 or e-mail service-info@towergroup.com.

The emergence of enterprise fraud management in financial services

For most financial services institutions, a persistent dichotomy in fraud management leaves firms vulnerable to fraud’s shifting sands. While financial institutions may combat fraud effectively in certain areas of their business, they may do so poorly, if at all, across their full spectrum of products and services. As fraud evolves and moves to the area of least resistance, new and more sophisticated types of fraud are surging as savvy perpetrators respond to new business models.