Security personnel are usually brought in when a potential fraud incident has happened -- identified either via...
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
transaction analytics or some other means -- to figure out if it's a technology problem. Yes, this is a rather reactive process, and ideally there would be lockstep coordination between the risk group and the security group, but major change doesn't happen overnight.
In terms of how organizations should assess fraud risk, the assessment should include technology, business process and customer handling, and there really isn't a difference between the three types. Conducting an independent risk analysis for all of them doesn't make sense because, in many cases, a fault in one domain will lead to a breach in another.
Managing fraud and risk needs to be a holistic, enterprise-wide initiative and right now (in most organizations) it's not. So there's still a lot of work to do.
Dig Deeper on Enterprise Risk Management: Metrics and Assessments
Related Q&A from Mike Rothman
In the world of security certifications, what is the GISP and how alike is it to the CISSP? In this security management expert response, learn about ...continue reading
Depending on your enterprise, it may or may not be necessary to utilize a QSA. In this security management expert response, learn how to determine ...continue reading
When developing software securely, what role does gap analysis play? In this security management expert response, learn how to implement gap analysis...continue reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.