Episode 14: Evolution of Fraud Detection and Prevention Strategies Across Industries

The podcast explores the transformation of fraud detection and prevention practices, tracing the shift from delayed to real-time measures in response to the accelerated pace of transactions facilitated by digitalization. Reflecting on historical banking norms and the contemporary landscape, it underscores the persistent challenge of evolving fraud tactics. Through the speaker's varied industry experience, examples ranging from cheque fraud in manufacturing to identity fraud in pharmaceuticals are discussed, highlighting the importance of understanding specific business models in addressing fraud risks. Additionally, the podcast emphasizes the need for proactive measures, including the incorporation of fraud awareness into boardroom agendas, to effectively mitigate fraud across diverse industries.