Ted Datta from Moody’s explains how to strengthen fraud defences with innovation and collaboration

In an era where fraud schemes are increasingly sophisticated and prevalent, the need for businesses, banks, and government teams to shore up defences has never been greater. In the UK, Public-Private Partnerships (PPPs) are essential in bringing together stakeholders, including big tech companies, banks, fintech firms, credit lenders, and government departments to collaborate on addressing fraud and financial crime more widely.

Why the emphasis on collaboration? The financial impacts of fraud are significant to both government and commercial revenues and individual victims. Fraud losses are estimated at more than $1 trillion globally each year, so PPPs have a crucial role to play in tackling scams and reducing losses.

https://www.openaccessgovernment.org/strengthening-fraud-defences-with-innovation/189847/