Episode 4: Balancing Data Flood: A Prudent Approach to Fraud Prevention

In this episode, we explore the delicate balance between collecting more data to catch fraudsters and being responsible stewards of that data. We ask crucial questions: How valuable is this data, both in the short and long term? Do we truly understand its source and potential benefits? And importantly, what's the cost, and who bears it? Our discussion delves into the decision-making process of whether to acquire external data sets or develop in-house solutions. While external data sets can be beneficial when used judiciously, we also ponder whether the future of fraud prevention lies more in collaborative data sharing among financial institutions. Join us as we navigate the complex terrain of data in the fight against fraud.