Fighting Fraud: The Role of Fraud Fusion Centers

The CU Lab with NAFCU Services

Speaker: Adam Barrett - DefenseStorm Senior Product Manager

BIO: Adam is the DefenseStorm Fraud Geek with an extreme passion for protecting financial institutions and the people who trust them to provide a safe banking experience. He is currently the Senior Product Manager for the DefenseStorm fraud product, Fraud Detection. With 25 years of experience in banking operations, fraud and risk, you would think he's seen it all, however, the constantly evolving schemes keep him motivated to stay in the fight. When not at work, he enjoys traveling, paddle boarding, gardening, and cooking.

1. Can you explain the concept of Fraud Fusion Centers and what their main objective is in the world of fraud prevention?
2. What is the current state of cyber fraud, and why have Fraud Fusion Centers become more prevalent?
3. How are Fraud Fusion Centers being utilized across various industries, and what are some specific examples of how they are being used in the financial sector?
4. What are some of the benefits of utilizing Fraud Fusion Centers in fraud prevention, and how do they improve the overall process?
5. Can you provide some guidance on how companies or individuals can participate in or implement Fraud Fusion Centers in their own fraud prevention strategies?
6. How does DefenseStorm utilize Fraud Fusion Centers in their efforts to combat cyber fraud, and can you provide some specific examples of their success in this area?