Business Continuity Management / Disaster Recovery , COVID-19 , Fraud Management & Cybercrime

The COVID Payment Fraud Acceleration

Krista Tedder of Javelin and Stu Bradley of SAS Discuss Recent Research Findings
Stu Bradley, VP, Fraud and Security Intelligence, SAS, Krista Tedder, Director, Payments, Javelin

The pandemic has been an accelerant for digital payments and digital payment fraud globally. Krista Tedder of Javelin and Stu Bradley of SAS discuss recent findings in a new report.

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Bradley sees the rapid shift to digital transactions for many merchants as an opportunity ripe for fraud.

”What we're alluding to is a monumental shift in digital transactions - organizations that we're working with are five to 10 years ahead of schedule, with the number of digital transactions that they're having to process,” states Bradley. “This is in part in response to the way consumers are transacting, and in part, it's driven from their technology response that has not been fully reviewed from an overall fraud standpoint, creating a significant opportunity for the fraudsters to take advantage.”

In a video interview with Information Security Media Group, Tedder and Bradley discuss:

  • Macro trends in payments fraud across 20 countries in 2020;
  • Regional variances in fraud schemes;
  • How digital payments have been accelerated due to the pandemic.

As vice president of fraud and security intelligence at SAS, Bradley leads a diverse team of nearly 400 technology and domain experts in more than two dozen countries in the Americas, Europe, the Middle East, and Asia-Pacific. He and his team help commercial and public organizations leverage the most advanced analytic technologies in the arenas of AML/CFT compliance, banking fraud and financial crimes, healthcare cost containment, insurance fraud, procurement integrity, tax compliance, social benefits fraud, public security and cybersecurity

Tedder is an experienced thought leader in the payments industry working with issuing and acquiring financial institutions, merchants, and payment service providers. She advises clients on how to move from foundational to transformational payment practices to simultaneously improve consumer satisfaction and profitability. Krista provides strategic consulting on technology providers and methodologies, and product marketing functions for payments including market assessments, go to market strategies, and content marketing strategies.

About the Author

Nick Holland

Nick Holland

Former Director, Banking and Payments

Holland focused on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times.

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