FRAUD AND THE UNDERBANKED: TRENDS, STATISTICS AND MITIGATION STRATEGIES – VOTERS CHOICE FOR BUILD TRUST

Fraud is a constant factor that affects both the underbanked consumer as well as the financial services provider. This roundtable will explore a statistical year over year review of 2011, and highlight fraud drivers for the underbanked check cashing portfolio. This topic relates closely to the Build Trust principle as inconsistent fraud management strategies and the resulting approval/decline decisions affect the underbanked consumer and their access to financial services. More intelligent fraud management strategies lead to more consistent decisions, resulting in a satisfied consumer who can trust that they will have access to their financial service whenever they need it.