Three Ways to Manage Risk and Digital Transformation During a Pandemic
summary
Visa shows digital volume +40% while physical payments drop ~20% early in the pandemic and later digital stays ~30% growth as physical returns to breakeven; overall fraud volume falls ~4% year‑over‑year even as alerts shift to digital (about 85% from e‑commerce skimming). Recommended defenses are tokenization, contactless, AI/ML models, enriched data and a centralized ROC; Visa’s ROC reports stopping $3.5 billion in fraudulent PV and notes enumeration spikes ~20% but reduced monetization.
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chapters (25)
- 0:00Introduction
- 1:13Digital transformation as a business imperative
- 3:20Risk management becoming increasingly complex
- 4:28The ideal environment for fraudsters to thrive
- 5:14New organized and innovative fraud schemes
- 5:40Ecommerce skimming
- 6:43Social engineering
- 8:29Ransomware
- 9:10Enumeration Attacks
- 10:32Threat Actors
- 11:11Fraud Volume
- 14:13Risk Management Priorities
- 15:42Holistic Risk Management
- 16:21Strategy
- 18:48Alignment
- 19:56Infrastructure
- 21:28Analysis Velocity
- 22:41Automated Processes
- 24:02Governance
- 26:29Holistic Approach
- 27:49Checklist
- 29:57Analytics and Data
- 31:21Reinforce Strategy
- 32:31Strategic Frameworks
- 33:40Conclusion
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