Collaborative Defense: The Role of ‘Intelligent Friction’ and AI in Fraud Prevention
In this article
- Bullock introduced the concept of “intelligent friction,” which emphasizes applying security measures based on the level of risk associated with a transaction rather than a one-size-fits-all approach.
- This approach ensures that security measures are dynamic and context-specific, reducing unnecessary interruptions for legitimate transactions while effectively targeting potentially fraudulent activities.
- Intelligent friction, therefore, represents a nuanced and sophisticated approach to fraud prevention, ensuring that security measures are as seamless as possible while effectively mitigating risks.
- By using advanced technologies and fostering cross-industry collaboration, financial institutions can protect their customers and maintain trust.
- (Article contains 41 minute video of the related panel discussion
