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Scam Prevention:
Maturity Assessment

Are you positioned to retain customers through effective scam prevention? Find out where you stand. Complete the assessment for your personalized, immediate insights into your organization's scam defense strengths and weaknesses.

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Risk Excellence

Risk Excellence focuses on minimizing financial impacts, protecting brand reputation, and aligning with regulatory compliance. It involves evaluating an FI’s capabilities in compliance, analytics, data, model governance, and overall governance. The key levers for change under Risk Excellence include reducing fraud losses by value and volume.

How confident are you in your organization's ability to prevent and detect unauthorized fraud (ATO, malware, etc.) today?

/25

How confident are you in your organization's ability to prevent and detect losses of authorized fraud (impersonation, misrepresentation, romance scams, etc.) today?

/25

Does your organization plan to improve its authorized payments fraud (scams) prevention and detection controls?

/25

Comprehensive controls are already in place
Improvements are currently underway
We have completed a review, and the project is due to start in the next 3-6 months
We are planning a project to identify requirements for improving authorized fraud (scams) prevention
We do not have plans to improve our authorized fraud (scams) controls
I don’t know

What data points do you currently use to identify potential scam attacks? Select all that apply. *

/25

Payment information excluding beneficiary details: This includes information such as the amount of the payment, the payee's name, and the payment method.
Payment information, including beneficiary details: This includes all of the information in the previous option, plus the beneficiary's name and address.
Customer activity: This includes information such as login activity, new beneficiary creation, and changes to payment settings.
Payment and activity collated across multiple channels: This includes information from all of the different channels that customers use to interact with your organization, such as your website, mobile app, and call center.
I don't know

Do you record where your customers say the scam originated?

Seamless Customer Experience

Seamless Customer Experience focuses on minimizing customer friction and enhancing customer engagement and insights, thereby ensuring that fraud prevention strategies do not negatively impact the customer experience. The key levers for change are to reduce overall alert volumes and enhance customer interactions.

How well-developed is your scam customer awareness and education program?

/25

We currently do not have a scams customer awareness program.
There are some general messages about scams on our website or in other channels. These messages are not specific or tailored to individual customers.
We have general messages about scams on our website or in other channels AND we alert customers when they perform certain actions, such as setting up a new beneficiary.
We send out tailored alerts to customers that are specific to their individual circumstances.
I don't know

How are internal fraud team members kept aware of the latest scam trends?

/25

We do not have an awareness program.
Team members receive a single training session and are not regularly updated.
Team members receive regular briefings on identifying potential authorized fraud.
Team members are trained periodically to identify scams and follow up with potential victims.
I don't know

Do your customers understand the difference between authorized (scams) and unauthorized fraud?

/25

Yes
No
Sometimes
I don't know

Do customers expect to be reimbursed for scams?

How do customers typically react after a scam loss?

Scalable and Agile

Scalable and Agile assesses your organization’s capability to adapt quickly and innovate in response to evolving fraud risks. It considers how agility, innovation, and speed are integrated into the FI’s fraud management strategy, crucial for responding to new challenges and opportunities in the dynamic financial landscape.

What percentage of transactions are real-time (i.e., completed in <10 seconds)?

Are you planning to offer any new instant payment services in the next 12 months?

/25

Yes, and we have a comprehensive fraud prevention and detection plan in place.
Yes, but we will rely on a third-party or network provider to detect authorized fraud.
Yes, but we have not yet considered additional fraud controls.
No new instant payment services are currently planned.
I don't know

How well prepared is your organization to detect and adapt to emerging authorized fraud (scam) typologies and attacks?

/25

We are not well prepared and are unable to adapt quickly enough. This has led to lost business opportunities.
We are not well prepared, but we accept the risk as a cost of doing business.
We can adapt, but sometimes only by delaying new business initiatives.
We can adapt fast enough to avoid significant business impact.
We are fully confident in our ability to adapt rapidly to any new scam threat.
I don't know

How often are your organization's AI models retrained and adjusted? (If the exact timing isn't listed, choose the closest one).

What are your plans for cloud adoption?

/25

No plans; we will remain on-premise.
We do not use cloud solutions today but plan to in the next 1-2 years.
We plan to move to a cloud-based fraud prevention solution in the next 6 months.
We currently use a cloud-based solution.
I don't know

Cost Excellence

Cost excellence focuses on achieving an optimal cost base related to fraud management. We’ll evaluate how efficiently an FI manages its resources, systems, and personnel in the context of fraud detection and prevention. The key lever for change under Cost Excellence is lowering alert handling time.

What percentage of channels are covered by a single, multichannel solution?

Do you use your fraud management tool to report on operational efficiency?

/25

No
Yes, but only for basic investigator performance, e.g. the number of cases worked.
Yes, to report on enhanced efficiency metrics, such as the number of cases worked by type, the time to close cases by type, and the cost of investigating cases by type.
Yes, to report on advanced efficiency metrics, such as investigator utilization, time to close cases, and customer satisfaction.
I don't know

How do you measure fraud risk?

/25

Which of the following best describes the priority that your organization places on improving scam prevention and detection?

/25

High priority: We are committed to investing significant resources in improving scam prevention and detection.
Medium priority: We are taking steps to improve scam prevention and detection, but we are not making it a top priority.
Low priority: We are not currently taking any steps to improve scam prevention and detection.
I don't know

How have your fraud technology costs changed in the past 1-2 years?

/25

Inclusive & Fair

Inclusive and Fair focuses on minimizing bias in fraud detection systems and ensuring explainability in decision-making processes. This aspect is crucial for maintaining fairness and transparency in customer interactions, aligning with regulatory standards, and sustaining customer trust.

At what level do you analyze customer behavior?

/25

We don't differentiate customer behavior today
We segment customers by 1-2 demographic traits.
We segment customers by multiple traits, including demographic, behavioral, and transactional data.
We analyze every customer based on their individual behavior.
I don't know

What types of reporting are in place in your institution to measure the impact of payment fraud on customers?

/25

No formalized reporting is in place.
Customer reports and complaints of unauthorized fraud only.
Customer reports and complaints of unauthorized and authorized fraud.
Regular and comprehensive reporting of all customer impact events (e.g. resolution time, NPS impact) to senior management.
I don't know

What percentage of channels have risk scoring model governance?

What percentage of alerts include a clear reason why an AI model has flagged a particular transaction as fraud?

How does your bank measure AI fairness?

/25

We do not measure for bias or fairness in AI and do not have plans to implement measures.
We do not measure for AI bias or fairness, but we will start to in the next 1-2 years.
We are implementing AI bias and fairness measurements in the next 6 months.
We already measure AI bias and fairness in our AI models.
We don't use AI.
I don't know

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Scam Prevention: Maturity Assessment

Are you positioned to retain customers through effective scam prevention? Find out where you stand. Complete the assessment for your personalized, immediate insights into your organization's scam defense strengths and weaknesses.

Scam Prevention:
Maturity Assessment