{"id":469590,"date":"2021-04-01T08:03:47","date_gmt":"2021-04-01T12:03:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469590"},"modified":"2021-04-01T08:03:47","modified_gmt":"2021-04-01T12:03:47","slug":"fico-research-highlights-challenges-for-fraud-and-financial-crime-teams-amidst-pandemic","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-research-highlights-challenges-for-fraud-and-financial-crime-teams-amidst-pandemic\/","title":{"rendered":"FICO Research Highlights Challenges for Fraud and Financial Crime Teams Amidst Pandemic"},"content":{"rendered":"
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Financial crimes operations impacted by increase in fraud attacks and remote workforce during COVID-19<\/h2>\n

Highlights<\/h2>\n

– FICO today released new research outlining the challenges that the COVID-19 pandemic put on fraud and financial crime prevention at North American financial institutions.<\/h2>\n

– 68 percent of respondents cited that remote working had a major impact on maintaining effective fraud and financial crime prevention functions within their organizations.<\/h2>\n

– 70 percent said increased fraud attacks impacted operations.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n SAN JOSE, Calif.<\/span>, April 1, 2021<\/span> \/PRNewswire\/ — Global analytics software provider, FICO, today released new research that highlights the key challenges North American fraud and financial crime teams faced amidst the COVID-19 pandemic. The majority of senior executives (68 percent) said that remote working had a major impact on maintaining effective fraud and financial crime prevention functions within their organizations, during the past 12 months. <\/p>\n

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\n \"FICO
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The survey, conducted by independent research firm OMDIA, found that over a third of respondents (38 percent) said COVID-19 lockdowns were a main operational challenge.\u00a0 For instance, managing collaboration between anti-financial crime functions and enabling productivity of staff working completely from home during the pandemic. Especially, as fraud and financial crime departments experienced increased levels of fraud attacks \u2013 with almost three-quarters (70 percent) saying the increased fraud attacks had a major impact on their operations. <\/p>\n

Additional operational challenges impacting fraud protection functions included:\u00a0<\/p>\n