The recent Stratus and Edgar Dunn white paper on fraud and risk management includes a discussion around the business challenges that are leading companies to consider more proactive measures to combat fraud. The authors theorize that as risk management technology advances and the payments space becomes more sophisticated, so do the well-funded, professionally organized crime organizations that are perpetrating the fraud.

Most organizations have various payment systems and channels that are still ‘silos’ – each with its own technology platform. They find it difficult to integrate these channels in order to do proper enterprise risk management. Staying one step ahead of the fraudsters means taking a holistic view of payment infrastructure to fully integrate payments and fraud detection systems across products and geographies. Are institutions ready and willing to take the necessary and (likely) painful steps to do this?