The Open up Banking Implementation Entity (OBIE) has introduced a new on the net tool to support corporations prevent and combat open banking fraud.
The Counter-Fraud Maturity Self-Evaluation instrument has been collaboratively developed by the OBIE Security & Fraud Functioning Team, Accenture, Cifas, the University of Portsmouth Center for Counter Fraud Reports and the Cupboard Office Fraud, Error and Debt Group.
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The software, freely available to all corporations enrolled in the OBIE Listing, enables open up banking corporations to evaluate the maturity of their fraud defenses and seeks to additional improve the resilience of the open banking ecosystem.
Essential rewards of the tool outlined by the OBIE incorporate:
- A stage-in-time visual snapshot of a firms’ fraud regulate maturity
- The identification of areas of possible risk that may possibly not have earlier been thought of
- Customers can monitor the evolving maturity of their counter-fraud defenses
Bronwyn Boyle, head of security and counter-fraud at the OBIE, said: “Security is at the coronary heart of open banking, which allows far more than 2.5 million energetic buyers each month to safely and securely use their monetary data to entry better promotions. As open banking adoption proceeds to improve and the technology results in being portion of our daily life, it is additional essential than at any time that companies take measures to keep the integrity of their fraud controls.”
The OBIE Counter-Fraud Maturity Self-Evaluation software supports corporations in just the OBIE ecosystem in using proactive, preventative measures to defend their corporations and their consumers, she extra.
“By gaining a superior recognition of their personal risk profiles, companies can experience assured that they have strong counter-fraud controls in position.”
Some parts of this article are sourced from:
www.infosecurity-magazine.com