The white paper discusses the evolving challenges of payments fraud and the need for a holistic, tech-enabled approach to fraud detection and prevention. Traditional fraud detection systems were siloed and struggled to keep up with fast, real-time payment systems. To combat fraud effectively, financial institutions need integrated data, advanced analytics (e.g., AI and machine learning), and enhanced collaboration across departments and with external partners. These tools help institutions respond faster, detect fraud more accurately, and improve customer experience without disrupting legitimate transactions. The future of fraud prevention lies in adaptive, self-learning technology that continuously evolves with emerging fraud patterns.

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